Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Quarry LP

Quarry LP lifted its position in Northrop Grumman Co. (NYSE:NOC) by 1,546.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 214 shares of the aerospace company’s stock after acquiring an additional 201 shares during the period. Quarry LP’s holdings in Northrop Grumman were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ascent Group LLC increased its holdings in shares of Northrop Grumman by 0.5% in the second 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 period. Turtle Creek Wealth Advisors LLC raised its position in Northrop Grumman by 4.6% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 500 shares of the aerospace company’s stock worth $218,000 after buying an additional 22 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in 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 acquiring an additional 22 shares during the period. Legacy Wealth Asset Management LLC boosted its holdings in shares of Northrop Grumman by 2.4% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 965 shares of the aerospace company’s stock valued at $462,000 after acquiring an additional 23 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of Northrop Grumman by 1.1% in the second quarter. Capital Investment Advisors LLC now owns 2,068 shares of the aerospace company’s stock worth $902,000 after acquiring an additional 23 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NOC shares. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Sanford C. Bernstein cut Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target for the company. in a research report on Friday, June 21st. UBS Group upped their price objective on Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. TD Cowen raised their price objective on shares of Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, BTIG Research initiated coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $523.20.

Northrop Grumman Stock Down 0.9 %

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

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

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is currently 57.62%.

Insider Buying and Selling

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The sale 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 dated 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 directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,846 shares of company stock worth $1,393,028. 0.22% of the stock is owned by 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.