Bessemer Group Inc. Buys 125,693 Shares of Northrop Grumman Corporation (NYSE:NOC)

Bessemer Group Inc. raised its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 795,839 shares of the aerospace company's stock after purchasing an additional 125,693 shares during the period. Bessemer Group Inc. owned 0.55% of Northrop Grumman worth $407,477,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Northrop Grumman by 176.3% during the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock worth $1,394,000 after acquiring an additional 1,895 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Northrop Grumman by 2.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock worth $472,000 after purchasing an additional 22 shares during the period. Howard Capital Management Inc. lifted its position in shares of Northrop Grumman by 4.9% during the 4th quarter. Howard Capital Management Inc. now owns 958 shares of the aerospace company's stock worth $450,000 after purchasing an additional 45 shares during the last quarter. MONECO Advisors LLC lifted its position in shares of Northrop Grumman by 5.9% during the 4th quarter. MONECO Advisors LLC now owns 484 shares of the aerospace company's stock worth $227,000 after purchasing an additional 27 shares during the last quarter. Finally, World Equity Group Inc. bought a new stake in Northrop Grumman during the 4th quarter valued at approximately $253,000. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Price Performance

NOC traded up $3.45 during midday trading on Wednesday, reaching $487.45. 724,559 shares of the company's stock were exchanged, compared to its average volume of 879,963. The business has a 50-day simple moving average of $487.72 and a two-hundred day simple moving average of $483.14. Northrop Grumman Corporation has a one year low of $422.69 and a one year high of $555.57. The firm has a market capitalization of $70.16 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 5.46 and a beta of 0.14. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

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

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were given a $2.31 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a yield of 1.90%. Northrop Grumman's payout ratio is 36.46%.

Insiders Place Their Bets

In related news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $495.00, for a total value of $1,856,250.00. Following the completion of the sale, the chief executive officer now directly owns 209,102 shares in the company, valued at $103,505,490. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 729 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $368,706.33. Following the completion of the transaction, the vice president now owns 7,552 shares in the company, valued at $3,819,575.04. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,569 shares of company stock valued at $8,322,279. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NOC has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Royal Bank Of Canada cut their target price on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Truist Financial reduced their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. UBS Group dropped their price objective on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $525.00 price objective on shares of Northrop Grumman and gave the company an "overweight" rating in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $553.43.

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.