Meridian Wealth Management LLC Buys Shares of 6,474 Northrop Grumman Co. (NYSE:NOC)

Meridian Wealth Management LLC bought a new position in Northrop Grumman Co. (NYSE:NOC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,474 shares of the aerospace company's stock, valued at approximately $3,031,000.

A number of other large investors have also recently added to or reduced their stakes in NOC. Fiera Capital Corp bought a new stake in Northrop Grumman during the 4th quarter worth about $496,000. Jag Capital Management LLC boosted its position in Northrop Grumman by 10.5% during the fourth quarter. Jag Capital Management LLC now owns 884 shares of the aerospace company's stock valued at $414,000 after purchasing an additional 84 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Northrop Grumman by 5.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,616 shares of the aerospace company's stock valued at $757,000 after purchasing an additional 87 shares in the last quarter. Apexium Financial LP bought a new stake in shares of Northrop Grumman during the 4th quarter worth approximately $232,000. Finally, Wade G W & Inc. boosted its holdings in shares of Northrop Grumman by 17.9% in the 4th quarter. Wade G W & Inc. now owns 1,515 shares of the aerospace company's stock valued at $709,000 after buying an additional 230 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Performance

Shares of NOC stock traded down $0.47 during trading on Friday, reaching $470.22. 966,743 shares of the company's stock traded hands, compared to its average volume of 976,624. The company has a market capitalization of $69.59 billion, a P/E ratio of 32.88, a PEG ratio of 1.93 and a beta of 0.34. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $496.89. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 1.04. The firm's 50-day moving average is $467.67 and its 200 day moving average is $465.16.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, beating the consensus estimate of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The firm had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period last year, the firm earned $5.50 EPS. The business's quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts expect that Northrop Grumman Co. will post 24.7 EPS for the current year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.75%. This is a boost from Northrop Grumman's previous quarterly dividend of $1.87. The ex-dividend date is Friday, May 24th. Northrop Grumman's dividend payout ratio is 57.62%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Susquehanna boosted their target price on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a "positive" rating in a report on Friday, April 26th. Alembic Global Advisors raised Northrop Grumman from a "neutral" rating to an "overweight" rating and set a $532.00 price target on the stock in a research report on Monday, April 22nd. TheStreet downgraded Northrop Grumman from a "b+" rating to a "c+" rating in a research note on Thursday, January 25th. Royal Bank of Canada increased their price target on Northrop Grumman from $450.00 to $475.00 and gave the company a "sector perform" rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company upped their price target on shares of Northrop Grumman from $483.00 to $518.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $514.33.

Insider Buying and Selling at Northrop Grumman

In related news, VP Kathryn G. Simpson sold 711 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total transaction of $322,239.42. Following the transaction, the vice president now directly owns 2,024 shares of the company's stock, valued at approximately $917,317.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Northrop Grumman news, VP Kathryn G. Simpson sold 711 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the sale, the vice president now directly owns 2,024 shares in the company, valued at $917,317.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the transaction, the chief accounting officer now owns 3,127 shares in the company, valued at approximately $1,421,784.36. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.

About Northrop Grumman

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.