Rafferty Asset Management LLC Has $12.16 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Rafferty Asset Management LLC lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 17.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,920 shares of the aerospace company's stock after buying an additional 3,826 shares during the quarter. Rafferty Asset Management LLC's holdings in Northrop Grumman were worth $12,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its holdings in Northrop Grumman by 11.1% in the fourth quarter. ProShare Advisors LLC now owns 23,384 shares of the aerospace company's stock worth $10,974,000 after purchasing an additional 2,333 shares during the period. Quantinno Capital Management LP boosted its holdings in Northrop Grumman by 20.9% in the fourth quarter. Quantinno Capital Management LP now owns 40,640 shares of the aerospace company's stock worth $19,072,000 after purchasing an additional 7,026 shares during the period. Mufg Securities Americas Inc. acquired a new position in Northrop Grumman in the fourth quarter worth $949,000. Malaga Cove Capital LLC boosted its holdings in Northrop Grumman by 5.6% in the fourth quarter. Malaga Cove Capital LLC now owns 487 shares of the aerospace company's stock worth $229,000 after purchasing an additional 26 shares during the period. Finally, Man Group plc boosted its holdings in Northrop Grumman by 39.3% in the fourth quarter. Man Group plc now owns 266,465 shares of the aerospace company's stock worth $125,049,000 after purchasing an additional 75,141 shares during the period. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Price Performance

Northrop Grumman stock traded up $5.14 during midday trading on Tuesday, hitting $476.26. The company's stock had a trading volume of 1,001,296 shares, compared to its average volume of 901,330. 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 stock's 50-day moving average price is $496.43 and its 200-day moving average price is $485.22. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a market capitalization of $68.55 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 3.73 and a beta of 0.15.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing analysts' consensus estimates 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%. Analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be paid a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a yield of 1.94%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio (DPR) is currently 32.52%.

Insider Buying and Selling

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the transaction, the chief executive officer now owns 212,852 shares of the company's stock, valued at $101,243,053.80. The trade was a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the transaction, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,505 shares of company stock valued at $2,127,632. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NOC. Susquehanna cut their target price on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group upgraded 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. Morgan Stanley lifted their price objective on shares of Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Royal Bank of Canada cut their price objective on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup lifted their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $545.31.

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.