First Trust Direct Indexing L.P. Has $1.43 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

First Trust Direct Indexing L.P. cut its stake in shares of Northrop Grumman Co. (NYSE:NOCFree Report) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,712 shares of the aerospace company’s stock after selling 315 shares during the period. First Trust Direct Indexing L.P.’s holdings in Northrop Grumman were worth $1,432,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Optimum Investment Advisors grew its stake in shares of Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 41 shares during the period. Bank & Trust Co acquired a new stake in shares of Northrop Grumman during the second quarter worth $28,000. Meeder Asset Management Inc. grew its stake in shares of Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares during the period. Larson Financial Group LLC grew its stake in Northrop Grumman by 281.5% in the first quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 76 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Northrop Grumman in the second quarter worth about $52,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Trading Up 0.7 %

Shares of Northrop Grumman stock opened at $509.02 on Friday. The firm has a 50-day moving average of $523.57 and a 200-day moving average of $482.45. The stock has a market cap of $74.16 billion, a PE ratio of 31.54, a PEG ratio of 2.31 and a beta of 0.34. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOCGet Free Report) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Northrop Grumman’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.18 earnings per share. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 25.87 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed 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 of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.62%. Northrop Grumman’s dividend payout ratio is 51.05%.

Wall Street Analyst Weigh In

NOC has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research note on Tuesday, August 27th. Citigroup lifted their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $550.56.

View Our Latest Stock Report on NOC

About Northrop Grumman

(Free Report)

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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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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