Assenagon Asset Management S.A. Makes New Investment in Northrop Grumman Co. (NYSE:NOC)

Assenagon Asset Management S.A. bought a new stake in Northrop Grumman Co. (NYSE:NOC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,301 shares of the aerospace company's stock, valued at approximately $2,059,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NOC. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Northrop Grumman by 5.0% during the first quarter. Cornell Pochily Investment Advisors Inc. now owns 2,256 shares of the aerospace company's stock worth $1,080,000 after purchasing an additional 108 shares in the last quarter. Moody Lynn & Lieberson LLC lifted its holdings in Northrop Grumman by 16.4% in the 1st quarter. Moody Lynn & Lieberson LLC now owns 12,965 shares of the aerospace company's stock worth $6,206,000 after buying an additional 1,823 shares in the last quarter. Canvas Wealth Advisors LLC purchased a new position in Northrop Grumman in the 1st quarter valued at about $263,000. Rational Advisors LLC acquired a new stake in shares of Northrop Grumman during the first quarter valued at about $63,000. Finally, Asset Planning Services Inc. LA ADV increased its position in shares of Northrop Grumman by 0.4% during the first quarter. Asset Planning Services Inc. LA ADV now owns 11,800 shares of the aerospace company's stock worth $5,648,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Stock Performance

NYSE:NOC traded down $1.28 during midday trading on Monday, reaching $468.94. 673,704 shares of the company traded hands, compared to its average volume of 982,357. Northrop Grumman Co. has a twelve month low of $414.56 and a twelve month high of $496.89. The firm has a market capitalization of $69.40 billion, a price-to-earnings ratio of 32.79, a price-to-earnings-growth ratio of 1.93 and a beta of 0.34. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02. The company has a fifty day moving average price of $467.86 and a 200 day moving average price of $465.05.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same quarter in the previous year, the firm posted $5.50 EPS. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts expect that Northrop Grumman Co. will post 24.7 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $2.06 per share. The ex-dividend date is Friday, May 24th. This represents a $8.24 annualized dividend and a yield of 1.76%. This is an increase from Northrop Grumman's previous quarterly dividend of $1.87. Northrop Grumman's payout ratio is presently 52.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NOC shares. Alembic Global Advisors upgraded Northrop Grumman from a "neutral" rating to an "overweight" rating and set a $532.00 price objective for the company in a research note on Monday, April 22nd. StockNews.com raised shares of Northrop Grumman from a "hold" rating to a "buy" rating in a report on Friday, April 26th. Susquehanna raised their price objective 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. Robert W. Baird upped their target price on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a "neutral" rating in a research note on Friday, April 26th. Finally, TheStreet cut shares of Northrop Grumman from a "b+" rating to a "c+" rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $514.33.

Insider Buying and Selling at Northrop Grumman

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

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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