WealthPlan Investment Management LLC Purchases Shares of 1,531 Northrop Grumman Corporation (NYSE:NOC)

Key Points

• WealthPlan Investment Management LLC has purchased 1,531 shares of Northrop Grumman Corporation, amounting to nearly $784,000 in value, as reported in their recent 13F filing.
• Northrop Grumman recently declared an increased quarterly dividend of $2.31 per share, up from $2.06, representing a 1.6% dividend yield.
• The company's stock has a market cap of approximately $84.11 billion and has seen a 1.3% year-over-year revenue growth with earnings per share of $7.11 for the last quarter, exceeding expectations.

WealthPlan Investment Management LLC purchased a new position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,531 shares of the aerospace company's stock, valued at approximately $784,000.

A number of other large investors have also modified their holdings of NOC. IMA Advisory Services Inc. acquired a new position in Northrop Grumman in the 1st quarter worth approximately $27,000. Banque Cantonale Vaudoise purchased a new stake in shares of Northrop Grumman in the 1st quarter valued at $30,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Northrop Grumman in the fourth quarter worth $32,000. Bellwether Advisors LLC acquired a new stake in shares of Northrop Grumman in the fourth quarter worth $33,000. Finally, Hollencrest Capital Management raised its holdings in shares of Northrop Grumman by 790.0% during the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Down 0.3%

Shares of NYSE:NOC opened at $587.43 on Friday. Northrop Grumman Corporation has a 52-week low of $426.24 and a 52-week high of $594.68. The stock has a market cap of $84.11 billion, a P/E ratio of 21.65, a PEG ratio of 5.58 and a beta of 0.15. The business has a fifty day moving average of $520.72 and a two-hundred day moving average of $497.35. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.84 by $0.27. The firm had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. Northrop Grumman's revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $6.36 earnings per share. On average, research analysts expect 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. Stockholders of record on Monday, June 2nd were paid a $2.31 dividend. 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. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. Northrop Grumman's dividend payout ratio is currently 34.06%.

Insiders Place Their Bets

In other news, CEO Kathy J. Warden sold 7,500 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the sale, the chief executive officer owned 201,602 shares of the company's stock, valued at approximately $101,964,243.54. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 729 shares of Northrop Grumman stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $368,706.33. Following the completion of the transaction, the vice president owned 7,552 shares of the company's stock, valued at $3,819,575.04. This trade represents a 8.80% 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. Company insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NOC. Royal Bank Of Canada lifted their price objective on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $424.00 to $521.00 in a research report on Friday, April 11th. Robert W. Baird raised their price objective on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $586.79.

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.

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