Smithbridge Asset Management Inc. DE Makes New Investment in Northrop Grumman Co. (NYSE:NOC)

Smithbridge Asset Management Inc. DE purchased a new stake in Northrop Grumman Co. (NYSE:NOC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,741 shares of the aerospace company's stock, valued at approximately $891,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Paragon Capital Management Ltd bought a new stake in shares of Northrop Grumman in the 1st quarter worth approximately $439,000. NorthCrest Asset Manangement LLC grew its position in shares of Northrop Grumman by 12.2% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 4,873 shares of the aerospace company's stock worth $2,495,000 after buying an additional 529 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its position in shares of Northrop Grumman by 5.3% in the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 476 shares of the aerospace company's stock worth $244,000 after buying an additional 24 shares during the last quarter. Neumann Capital Management LLC purchased a new position in shares of Northrop Grumman in the 1st quarter valued at approximately $308,000. Finally, First United Bank & Trust purchased a new position in shares of Northrop Grumman in the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors own 83.40% of the company's stock.

Wall Street Analyst Weigh In

NOC has been the subject of a number of research analyst reports. Royal Bank of Canada lowered 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. The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $424.00 to $521.00 in a research note on Friday, April 11th. Truist Financial lowered 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. Wells Fargo & Company set a $525.00 price objective on Northrop Grumman and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley boosted their price target on Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $545.31.

Insider Activity at Northrop Grumman

In other news, 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 transaction, the chief executive officer now directly owns 201,602 shares in the company, valued at $101,964,243.54. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Roshan S. Roeder sold 991 shares of the stock in a transaction that occurred on 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 now owns 319 shares of the company's stock, valued at $156,310. This trade represents a 75.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,340 shares of company stock valued at $6,183,378 in the last quarter. Insiders own 0.23% of the company's stock.

Northrop Grumman Stock Up 4.0%

Shares of NYSE:NOC traded up $20.09 during midday trading on Friday, hitting $517.22. 1,842,813 shares of the company's stock traded hands, compared to its average volume of 886,029. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The company has a market cap of $74.44 billion, a PE ratio of 18.25, a P/E/G ratio of 3.73 and a beta of 0.14. The firm's fifty day moving average price is $490.46 and its two-hundred day moving average price is $482.42. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.27). The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $10.07 billion. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, equities research analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be given a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Monday, June 2nd. This is an increase from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio is currently 36.46%.

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.