Rhumbline Advisers Boosts Stock Position in Northrop Grumman Co. (NYSE:NOC)

Rhumbline Advisers grew its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 255,665 shares of the aerospace company's stock after purchasing an additional 8,009 shares during the period. Rhumbline Advisers owned about 0.18% of Northrop Grumman worth $130,903,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC boosted its position in Northrop Grumman by 31.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,738 shares of the aerospace company's stock valued at $890,000 after buying an additional 414 shares during the last quarter. Marion Wealth Management increased its stake in shares of Northrop Grumman by 8.7% in the 1st quarter. Marion Wealth Management now owns 2,956 shares of the aerospace company's stock worth $1,514,000 after acquiring an additional 236 shares during the last quarter. New Hampshire Trust grew its holdings in shares of Northrop Grumman by 2.7% during the 1st quarter. New Hampshire Trust now owns 5,464 shares of the aerospace company's stock worth $2,798,000 after purchasing an additional 142 shares during the period. LVM Capital Management Ltd. MI grew its holdings in shares of Northrop Grumman by 2.0% during the 1st quarter. LVM Capital Management Ltd. MI now owns 33,248 shares of the aerospace company's stock worth $17,023,000 after purchasing an additional 646 shares during the period. Finally, S.E.E.D. Planning Group LLC boosted its holdings in Northrop Grumman by 5.3% during the 1st quarter. S.E.E.D. Planning Group LLC now owns 1,442 shares of the aerospace company's stock valued at $738,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock traded down $3.53 on Thursday, hitting $487.76. The stock had a trading volume of 634,285 shares, compared to its average volume of 892,464. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The business's 50 day moving average is $491.51 and its two-hundred day moving average is $482.46. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The stock has a market cap of $70.20 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 3.73 and a beta of 0.15.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $10.07 billion. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be given a $2.31 dividend. The ex-dividend date is Monday, June 2nd. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a dividend yield of 1.89%. Northrop Grumman's dividend payout ratio (DPR) is 36.46%.

Insider Transactions at Northrop Grumman

In other news, VP Roshan S. Roeder sold 991 shares of the firm's stock in a transaction dated 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 now directly owns 319 shares in the company, valued at $156,310. This trade represents a 75.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders sold 1,057 shares of company stock valued at $517,733. Corporate insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NOC shares. 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 note on Wednesday, April 23rd. Citigroup lifted their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Wells Fargo & Company set a $525.00 target price on Northrop Grumman and gave the stock an "overweight" rating in a research report on Thursday, April 24th. UBS Group reduced their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Susquehanna reduced their price objective on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Nine research 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $545.31.

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.