NewEdge Advisors LLC Purchases 2,066 Shares of Northrop Grumman Co. (NYSE:NOC)

NewEdge Advisors LLC raised its position in Northrop Grumman Co. (NYSE:NOC) by 23.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,832 shares of the aerospace company’s stock after buying an additional 2,066 shares during the quarter. NewEdge Advisors LLC’s holdings in Northrop Grumman were worth $4,722,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ascent Group LLC grew its holdings in shares of Northrop Grumman by 0.5% during the 2nd quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock valued at $1,891,000 after purchasing an additional 20 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its holdings in shares of Northrop Grumman by 4.6% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 500 shares of the aerospace company’s stock valued at $218,000 after purchasing an additional 22 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Northrop Grumman by 1.5% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 1,467 shares of the aerospace company’s stock valued at $640,000 after purchasing an additional 22 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Northrop Grumman by 2.4% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 965 shares of the aerospace company’s stock valued at $462,000 after purchasing an additional 23 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in shares of Northrop Grumman by 1.1% during the 2nd quarter. Capital Investment Advisors LLC now owns 2,068 shares of the aerospace company’s stock valued at $902,000 after purchasing an additional 23 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of Northrop Grumman from $440.00 to $515.00 and gave the company a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their target price on shares of Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Finally, Barclays boosted their target price on shares of Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Hold” and a consensus target price of $523.20.

Northrop Grumman Stock Down 0.9 %

Shares of NYSE NOC opened at $538.85 on Thursday. The company has a market capitalization of $79.74 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a 52-week low of $414.56 and a 52-week high of $555.57. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The company’s 50 day moving average price is $510.97 and its 200-day moving average price is $473.82.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. The firm had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.34 EPS. Equities analysts forecast that Northrop Grumman Co. will post 25.14 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.53%. Northrop Grumman’s payout ratio is presently 57.62%.

Insider Activity at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. Insiders have sold 2,846 shares of company stock worth $1,393,028 in the last quarter. Company insiders own 0.22% of the company’s stock.

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.