Spirepoint Private Client LLC Purchases 562 Shares of Northrop Grumman Corporation (NYSE:NOC)

Spirepoint Private Client LLC lifted its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,289 shares of the aerospace company's stock after buying an additional 562 shares during the quarter. Spirepoint Private Client LLC's holdings in Northrop Grumman were worth $7,828,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in NOC. Redhawk Wealth Advisors Inc. raised its position in shares of Northrop Grumman by 3.0% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company's stock valued at $330,000 after acquiring an additional 19 shares in the last quarter. Salvus Wealth Management LLC grew its holdings in Northrop Grumman by 1.5% in the 1st quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company's stock worth $691,000 after buying an additional 20 shares in the last quarter. IAG Wealth Partners LLC lifted its holdings 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 purchasing an additional 21 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings 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 purchasing an additional 22 shares during the period. Finally, Jacobi Capital Management LLC grew its position in Northrop Grumman by 1.2% in the 4th quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company's stock valued at $933,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Price Performance

NYSE:NOC traded down $15.77 on Tuesday, reaching $483.90. The stock had a trading volume of 928,502 shares, compared to its average volume of 1,065,922. 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 company has a market capitalization of $69.65 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 5.43 and a beta of 0.14. Northrop Grumman Corporation has a 1-year low of $422.69 and a 1-year high of $555.57. The stock has a fifty day moving average price of $488.63 and a 200-day moving average price of $483.14.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. Research analysts forecast that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were issued a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.91%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date of this dividend was Monday, June 2nd. Northrop Grumman's payout ratio is currently 36.46%.

Insider Buying and Selling

In other news, CEO Kathy J. Warden sold 3,750 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $495.00, for a total value of $1,856,250.00. Following the transaction, the chief executive officer now owns 209,102 shares of the company's stock, valued at approximately $103,505,490. This trade represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Roshan S. Roeder sold 991 shares of the business'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 sale, the vice president now directly owns 319 shares of the company's stock, valued at approximately $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 have sold a total of 16,569 shares of company stock worth $8,322,279 in the last 90 days. Corporate insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NOC. The Goldman Sachs Group raised Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $424.00 to $521.00 in a research note on Friday, April 11th. Argus raised Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Susquehanna reduced their price objective on shares of Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Truist Financial lowered their target price on shares of Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $525.00 price target on Northrop Grumman and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $553.43.

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.