QRG Capital Management Inc. Has $1.62 Million Holdings in Northrop Grumman Corporation (NYSE:NOC)

QRG Capital Management Inc. decreased its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 60.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,164 shares of the aerospace company's stock after selling 4,753 shares during the period. QRG Capital Management Inc.'s holdings in Northrop Grumman were worth $1,620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOC. Whipplewood Advisors LLC acquired a new stake in shares of Northrop Grumman in the fourth quarter worth $31,000. Wood Tarver Financial Group LLC acquired a new position in Northrop Grumman during the fourth quarter valued at $32,000. Bellwether Advisors LLC purchased a new stake in Northrop Grumman in the 4th quarter worth about $33,000. Rakuten Securities Inc. boosted its position in Northrop Grumman by 291.7% during the 4th quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock worth $44,000 after acquiring an additional 70 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new stake in Northrop Grumman during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 83.40% of the company's stock.

Insider Activity at Northrop Grumman

In other news, VP Roshan S. Roeder sold 991 shares of the company'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 transaction of $485,590.00. Following the completion of the transaction, the vice president now directly owns 319 shares in the company, valued at $156,310. The trade was a 75.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kathy J. Warden sold 7,500 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 value of $3,793,275.00. Following the completion of the sale, the chief executive officer now directly owns 201,602 shares of the company's stock, valued at $101,964,243.54. This represents a 3.59% 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 $8,322,279 in the last 90 days. 0.23% of the stock is owned by company insiders.

Northrop Grumman Stock Down 1.9%

Shares of Northrop Grumman stock opened at $494.16 on Friday. Northrop Grumman Corporation has a 12-month low of $422.69 and a 12-month high of $555.57. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average price of $490.07 and a two-hundred day moving average price of $482.87. The stock has a market capitalization of $71.12 billion, a P/E ratio of 19.50, a PEG ratio of 5.40 and a beta of 0.14.

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 (EPS) 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 firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. Equities analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share 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 1.87%. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NOC shares. Royal Bank Of Canada reduced their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group raised shares of Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their target price for the company from $424.00 to $521.00 in a research note on Friday, April 11th. Wells Fargo & Company set a $525.00 price target on shares of Northrop Grumman and gave the company an "overweight" rating in a report on Thursday, April 24th. Wall Street Zen lowered Northrop Grumman from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Finally, 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. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Northrop Grumman has a consensus rating of "Moderate Buy" and a consensus price target of $548.33.

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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