Northrop Grumman Corporation (NYSE:NOC) Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Northrop Grumman by 19.1%, acquiring an additional 44,685 shares to own a total of 278,567 shares valued at approximately $142.63 million.
• Northrop Grumman announced a quarterly dividend increase from $2.06 to $2.31 per share, reflecting a 1.6% yield and a payout ratio of 34.06%.
• Analysts have increased their price targets for Northrop Grumman, with a consensus target of $586.79 and ratings from ten analysts averaging a rating of "Moderate Buy."

Russell Investments Group Ltd. raised its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 19.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 278,567 shares of the aerospace company's stock after purchasing an additional 44,685 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of Northrop Grumman worth $142,630,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NOC. Brighton Jones LLC grew its stake in shares of Northrop Grumman by 176.3% in the fourth 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 period. Bank Pictet & Cie Europe AG grew 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 acquiring an additional 22 shares during the period. Townsquare Capital LLC grew its stake in shares of Northrop Grumman by 2.6% in the fourth quarter. Townsquare Capital LLC now owns 5,530 shares of the aerospace company's stock worth $2,595,000 after acquiring an additional 140 shares during the period. Sagespring Wealth Partners LLC bought a new stake in shares of Northrop Grumman in the fourth quarter worth approximately $985,000. Finally, SageView Advisory Group LLC grew its stake in shares of Northrop Grumman by 4.1% in the fourth quarter. SageView Advisory Group LLC now owns 3,397 shares of the aerospace company's stock worth $1,594,000 after acquiring an additional 133 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Price Performance

NYSE NOC traded up $2.28 on Thursday, hitting $584.37. The company had a trading volume of 543,299 shares, compared to its average volume of 1,001,673. The company has a market capitalization of $83.67 billion, a PE ratio of 21.54, a PEG ratio of 5.50 and a beta of 0.15. The company's fifty day moving average price is $528.25 and its 200-day moving average price is $499.57. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. Northrop Grumman Corporation has a 12-month low of $426.24 and a 12-month high of $594.68.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the previous year, the firm earned $6.36 EPS. The firm's revenue was up 1.3% compared to the same quarter last year. As a group, analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders 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 1.6%. 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. Northrop Grumman's dividend payout ratio is presently 34.06%.

Insider Activity

In other Northrop Grumman news, VP Robert J. Fleming sold 3,500 shares of the company's stock in a transaction dated 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 transaction, the vice president owned 1,827 shares of the company's stock, valued at $924,041.79. This represents a 65.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Roshan S. Roeder sold 991 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were 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 directly owned 319 shares in the company, valued at $156,310. The trade was a 75.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,536 shares of company stock worth $8,306,857. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NOC shares. Susquehanna boosted their target price on shares of Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Bank of America boosted their target price on shares of Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley boosted their target price on shares of Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. Finally, Truist Financial restated a "buy" rating and set a $625.00 target price (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $586.79.

About Northrop Grumman

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.