Woodline Partners LP Purchases New Holdings in Northrop Grumman Co. (NYSE:NOC)

Woodline Partners LP acquired a new stake in Northrop Grumman Co. (NYSE:NOC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 538 shares of the aerospace company's stock, valued at approximately $252,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victrix Investment Advisors bought a new position in shares of Northrop Grumman in the 4th quarter worth approximately $1,063,000. Vident Advisory LLC increased its holdings in Northrop Grumman by 7.4% during the fourth quarter. Vident Advisory LLC now owns 52,895 shares of the aerospace company's stock valued at $24,823,000 after buying an additional 3,642 shares during the last quarter. Vivaldi Capital Management LP bought a new position in Northrop Grumman in the fourth quarter worth approximately $214,000. WBI Investments LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth $572,000. Finally, Two Sigma Advisers LP grew its position in shares of Northrop Grumman by 20.8% during the 4th quarter. Two Sigma Advisers LP now owns 888,700 shares of the aerospace company's stock valued at $417,058,000 after acquiring an additional 153,100 shares during the period. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Price Performance

NOC stock traded up $4.97 during mid-day trading on Friday, hitting $484.36. The company had a trading volume of 1,304,434 shares, compared to its average volume of 895,507. The company has a market capitalization of $69.71 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 3.73 and a beta of 0.15. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $493.38 and a 200 day moving average price of $482.43.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 EPS 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 analysts' expectations of $10.07 billion. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, research analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be given a dividend of $2.31 per share. This represents a $9.24 annualized dividend 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 is Monday, June 2nd. Northrop Grumman's dividend payout ratio is currently 36.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NOC shares. Wall Street Zen downgraded Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Argus raised shares of Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Susquehanna lowered their target price on shares of Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Wolfe Research upgraded shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company set a $525.00 target price on shares of Northrop Grumman and gave the company an "overweight" rating in a research note on Thursday, April 24th. Nine 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 presently has an average rating of "Moderate Buy" and a consensus target price of $545.31.

Insider Activity

In other news, CEO Kathy J. Warden sold 3,750 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the sale, the chief executive officer now directly owns 212,852 shares in the company, valued at approximately $101,243,053.80. This represents a 1.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 3,849 shares of company stock worth $1,831,461. 0.23% of the stock is currently owned by corporate insiders.

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.