Parcion Private Wealth LLC Acquires New Position in Northrop Grumman Corporation (NYSE:NOC)

Parcion Private Wealth LLC acquired a new stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 681 shares of the aerospace company's stock, valued at approximately $349,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brookstone Capital Management increased its holdings in Northrop Grumman by 121.0% in the first quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company's stock valued at $3,400,000 after buying an additional 3,635 shares during the last quarter. GAM Holding AG grew its holdings in shares of Northrop Grumman by 51.9% during the first quarter. GAM Holding AG now owns 2,338 shares of the aerospace company's stock valued at $1,197,000 after purchasing an additional 799 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Northrop Grumman by 12.8% during the fourth quarter. Schroder Investment Management Group now owns 8,857 shares of the aerospace company's stock valued at $4,132,000 after purchasing an additional 1,008 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Northrop Grumman by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company's stock valued at $1,417,850,000 after purchasing an additional 21,903 shares during the last quarter. Finally, RFG Bristol Wealth Advisors LLC bought a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $284,000. 83.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOC has been the subject of several recent research reports. The Goldman Sachs Group raised Northrop Grumman from a "sell" rating to a "neutral" rating and upped their target price for the company from $424.00 to $521.00 in a report on Friday, April 11th. Truist Financial reduced their price objective on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. UBS Group dropped their price objective 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 decreased their target price on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $542.00 target price (down previously from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $550.00.

Northrop Grumman Stock Up 0.6%

NOC opened at $519.87 on Thursday. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $555.57. The business has a 50-day moving average of $491.12 and a 200-day moving average of $486.55. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.84. The company has a market capitalization of $74.82 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 6.14 and a beta of 0.15.

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

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date was Monday, June 2nd. Northrop Grumman's dividend payout ratio (DPR) is presently 36.46%.

Insider Buying and Selling

In related news, VP Roshan S. Roeder sold 991 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the transaction, the vice president directly owned 319 shares of the company's stock, valued at approximately $156,310. This trade represents a 75.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert J. Fleming sold 3,500 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the vice president directly owned 1,827 shares in the company, valued at $924,041.79. The trade was 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 valued at $8,323,150 over the last 90 days. 0.23% of the stock is currently owned by insiders.

Northrop Grumman Company 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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