Wedge Capital Management L L P NC Has $56.39 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Wedge Capital Management L L P NC reduced its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 21.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 110,141 shares of the aerospace company's stock after selling 30,861 shares during the quarter. Northrop Grumman makes up 1.1% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 10th largest holding. Wedge Capital Management L L P NC owned approximately 0.08% of Northrop Grumman worth $56,393,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Northrop Grumman by 55,522.3% during the first quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock worth $778,336,000 after purchasing an additional 1,517,425 shares in the last quarter. Capital International Investors lifted its stake in Northrop Grumman by 5.9% in the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company's stock valued at $3,866,133,000 after acquiring an additional 461,307 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Northrop Grumman by 28.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company's stock valued at $952,962,000 after purchasing an additional 450,858 shares in the last quarter. First Trust Advisors LP boosted its position in Northrop Grumman by 337.1% during the fourth quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company's stock valued at $226,250,000 after purchasing an additional 371,814 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Northrop Grumman during the fourth quarter worth $171,580,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Down 0.1%

Shares of NYSE:NOC traded down $0.40 during trading on Wednesday, hitting $488.40. 894,954 shares of the company were exchanged, compared to its average volume of 888,975. The firm's 50 day moving average price is $490.11 and its 200-day moving average price is $482.30. The stock has a market capitalization of $70.29 billion, a P/E ratio of 17.23, a PEG ratio of 3.73 and a beta of 0.14. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

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

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be paid a dividend of $2.31 per share. The ex-dividend date is Monday, June 2nd. This represents a $9.24 annualized dividend and a yield of 1.89%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio is presently 36.46%.

Insiders Place Their Bets

In related news, VP Roshan S. Roeder sold 991 shares of the company's stock in a transaction 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 completion of the transaction, the vice president now directly owns 319 shares in the company, valued at $156,310. This represents a 75.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 1,090 shares of company stock valued at $533,853. Company insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on NOC. 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. Wells Fargo & Company set a $525.00 target price on Northrop Grumman and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of Northrop Grumman from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Truist Financial reduced their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, UBS Group cut their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Northrop Grumman presently has a consensus rating of "Moderate Buy" and an average target price of $545.31.

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.