World Investment Advisors Raises Stock Position in Northrop Grumman Corporation (NYSE:NOC)

World Investment Advisors raised its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 24.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,976 shares of the aerospace company's stock after buying an additional 580 shares during the period. World Investment Advisors' holdings in Northrop Grumman were worth $1,524,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NOC. VELA Investment Management LLC grew its position in shares of Northrop Grumman by 23.6% in the first quarter. VELA Investment Management LLC now owns 7,915 shares of the aerospace company's stock valued at $4,053,000 after purchasing an additional 1,512 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Northrop Grumman in the first quarter valued at approximately $47,000. Olde Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the first quarter valued at approximately $73,000. Capital Investment Advisory Services LLC grew its position in shares of Northrop Grumman by 90.1% in the first quarter. Capital Investment Advisory Services LLC now owns 2,464 shares of the aerospace company's stock valued at $1,262,000 after purchasing an additional 1,168 shares during the last quarter. Finally, Strategic Blueprint LLC grew its position in shares of Northrop Grumman by 6.1% in the first quarter. Strategic Blueprint LLC now owns 796 shares of the aerospace company's stock valued at $408,000 after purchasing an additional 46 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northrop Grumman

In related news, CEO Kathy J. Warden sold 7,500 shares of the firm's 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 $3,793,275.00. Following the transaction, the chief executive officer owned 201,602 shares in the company, valued at $101,964,243.54. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Fleming sold 3,500 shares of the firm's 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 $1,770,195.00. Following the transaction, the vice president owned 1,827 shares in the company, valued at $924,041.79. This represents a 65.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,536 shares of company stock worth $8,306,430 over the last ninety days. Insiders own 0.23% of the company's stock.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $507.96 on Tuesday. The firm's 50 day moving average is $487.45 and its two-hundred day moving average is $484.63. Northrop Grumman Corporation has a 52 week low of $422.69 and a 52 week high of $555.57. The firm has a market capitalization of $73.11 billion, a P/E ratio of 20.05, a PEG ratio of 5.51 and a beta of 0.15. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95.

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). Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. The firm had revenue of $9.47 billion during the quarter, compared to analyst estimates of $10.07 billion. Analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Monday, June 2nd. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio (DPR) is currently 36.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NOC. Royal Bank Of Canada lowered their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Susquehanna cut their price target 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. UBS Group cut their price target on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group raised shares of Northrop Grumman from a "sell" rating to a "neutral" rating and raised their target price for the company from $424.00 to $521.00 in a research note on Friday, April 11th. Finally, Truist Financial dropped their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman has an average rating of "Moderate Buy" and an average price target of $552.54.

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.

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