Northrop Grumman Corporation (NYSE:NOC) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC raised its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 18.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,261 shares of the aerospace company's stock after acquiring an additional 42,733 shares during the period. Northrop Grumman makes up approximately 2.5% of Penserra Capital Management LLC's holdings, making the stock its 2nd biggest holding. Penserra Capital Management LLC owned approximately 0.19% of Northrop Grumman worth $138,886,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NOC. Brighton Jones LLC raised its holdings in Northrop Grumman by 176.3% during the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock valued at $1,394,000 after buying an additional 1,895 shares during the period. Bank Pictet & Cie Europe AG raised its holdings 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 buying an additional 22 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Northrop Grumman by 81.8% in the fourth quarter. Victory Capital Management Inc. now owns 89,439 shares of the aerospace company's stock worth $41,973,000 after buying an additional 40,247 shares during the period. Assetmark Inc. increased its stake in Northrop Grumman by 7.2% in the fourth quarter. Assetmark Inc. now owns 17,849 shares of the aerospace company's stock worth $8,376,000 after purchasing an additional 1,202 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Northrop Grumman in the fourth quarter worth $201,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NOC has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and increased their target price for the stock from $424.00 to $521.00 in a research note on Friday, April 11th. Susquehanna reduced their price target on shares of Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 target price on shares of Northrop Grumman and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Wall Street Zen lowered shares of Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, UBS Group reduced their price objective on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $552.54.

Northrop Grumman Stock Up 0.9%

NOC stock traded up $4.50 during trading on Friday, reaching $503.40. 381,831 shares of the company traded hands, compared to its average volume of 881,784. Northrop Grumman Corporation has a 12 month low of $422.69 and a 12 month high of $555.57. The business has a 50 day simple moving average of $486.97 and a 200 day simple moving average of $484.24. The company has a market capitalization of $72.45 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 5.51 and a beta of 0.15. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current 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 return on equity of 25.46% and a net margin of 9.19%. The firm had revenue of $9.47 billion during the quarter, compared to analysts' expectations of $10.07 billion. On average, equities research analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal 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 issued a $2.31 dividend. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a yield of 1.84%. The ex-dividend date was Monday, June 2nd. Northrop Grumman's payout ratio is currently 36.46%.

Insider Activity

In other news, VP Robert J. Fleming sold 3,500 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $1,770,195.00. Following the completion of the sale, the vice president owned 1,827 shares of the company's stock, valued at $924,041.79. This trade represents a 65.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Roshan S. Roeder sold 991 shares of the firm's stock in a transaction 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 completion of the sale, the vice president directly owned 319 shares of the company's stock, valued at $156,310. The trade was a 75.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,569 shares of company stock valued at $8,322,279 over the last three months. Company insiders own 0.23% of the company's stock.

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.