Northrop Grumman Corporation (NYSE:NOC) Holdings Lifted by Allworth Financial LP

Allworth Financial LP increased its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 15.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,985 shares of the aerospace company's stock after buying an additional 668 shares during the quarter. Allworth Financial LP's holdings in Northrop Grumman were worth $2,552,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new position in shares of Northrop Grumman during the fourth quarter valued at $32,000. Bellwether Advisors LLC purchased a new position in Northrop Grumman in the fourth quarter valued at about $33,000. HWG Holdings LP purchased a new position in Northrop Grumman in the first quarter valued at about $46,000. VSM Wealth Advisory LLC purchased a new position in Northrop Grumman in the fourth quarter valued at about $47,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in Northrop Grumman in the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insiders Place Their Bets

In related news, CEO Kathy J. Warden sold 7,500 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the completion of the transaction, the chief executive officer owned 201,602 shares of the company's stock, valued at approximately $101,964,243.54. The trade was a 3.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert J. Fleming sold 3,500 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $1,770,195.00. Following the transaction, the vice president owned 1,827 shares in the company, valued at $924,041.79. This represents a 65.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,569 shares of company stock worth $8,323,150 over the last quarter. 0.23% of the stock is currently owned by company insiders.

Northrop Grumman Price Performance

NYSE NOC opened at $514.65 on Friday. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $555.57. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.95. The stock has a market capitalization of $74.07 billion, a PE ratio of 20.31, a P/E/G ratio of 6.10 and a beta of 0.15. The stock has a 50-day simple moving average of $489.32 and a 200 day simple moving average of $485.56.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $10.07 billion. Research analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Monday, June 2nd. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's payout ratio is currently 36.46%.

Analysts Set New Price Targets

A number of brokerages have commented on NOC. Truist Financial lowered their target price on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley boosted their target price on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. UBS Group lowered their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada lowered their target price on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen cut Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $550.00.

Northrop Grumman Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.

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