Sowell Financial Services LLC Invests $429,000 in Northrop Grumman Corporation (NYSE:NOC)

Sowell Financial Services LLC acquired a new position in Northrop Grumman Corporation (NYSE:NOC - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 838 shares of the aerospace company's stock, valued at approximately $429,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Redhawk Wealth Advisors Inc. grew its position in Northrop Grumman by 3.0% in the first quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company's stock worth $330,000 after acquiring an additional 19 shares during the period. Salvus Wealth Management LLC grew its position in Northrop Grumman by 1.5% in the first quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company's stock worth $691,000 after acquiring an additional 20 shares during the period. IAG Wealth Partners LLC grew its position in Northrop Grumman by 8.4% in the first quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company's stock worth $139,000 after acquiring an additional 21 shares during the period. Bank Pictet & Cie Europe AG grew its position in 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. Finally, Jacobi Capital Management LLC boosted its position in shares of Northrop Grumman by 1.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company's stock worth $933,000 after buying an additional 23 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Up 0.7%

Shares of NYSE NOC traded up $3.27 during mid-day trading on Friday, hitting $497.92. The company had a trading volume of 915,895 shares, compared to its average volume of 880,780. The company has a market capitalization of $71.67 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 5.43 and a beta of 0.14. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.84. Northrop Grumman Corporation has a 1-year low of $422.69 and a 1-year high of $555.57. The business's 50-day simple moving average is $489.35 and its 200 day simple moving average is $482.93.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced 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 net margin of 9.19% and a return on equity of 25.46%. The company had revenue of $9.47 billion during the quarter, compared to analyst estimates of $10.07 billion. On average, analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were paid a $2.31 dividend. The ex-dividend date was Monday, June 2nd. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a yield of 1.86%. Northrop Grumman's dividend payout ratio (DPR) is currently 36.46%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 729 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 $368,706.33. Following the sale, the vice president now directly owns 7,552 shares in the company, valued at $3,819,575.04. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Roshan S. Roeder sold 991 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were 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 owns 319 shares in the company, valued at approximately $156,310. This represents a 75.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,569 shares of company stock worth $8,322,279 over the last ninety days. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen lowered Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and raised their price target for the stock from $424.00 to $521.00 in a research report on Friday, April 11th. Morgan Stanley raised their price target on Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. UBS Group lowered their price target on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial lowered their price target 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 research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $548.33.

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.