SteelPeak Wealth LLC Has $2.22 Million Stock Position in Northrop Grumman Co. (NYSE:NOC)

SteelPeak Wealth LLC increased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 49.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,631 shares of the aerospace company’s stock after purchasing an additional 1,538 shares during the period. SteelPeak Wealth LLC’s holdings in Northrop Grumman were worth $2,216,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its stake in Northrop Grumman by 960.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 48 shares during the period. Headlands Technologies LLC bought a new position in Northrop Grumman in the fourth quarter worth approximately $25,000. Frazier Financial Advisors LLC bought a new position in Northrop Grumman in the fourth quarter worth approximately $29,000. McIlrath & Eck LLC boosted its holdings in Northrop Grumman by 247.6% in the fourth quarter. McIlrath & Eck LLC now owns 73 shares of the aerospace company’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. Finally, Rise Advisors LLC bought a new position in Northrop Grumman in the first quarter worth approximately $38,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOC. Jefferies Financial Group cut their price target on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a report on Tuesday, June 18th. Sanford C. Bernstein lowered Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a report on Friday, June 21st. Robert W. Baird raised their target price on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, April 26th. StockNews.com lowered Northrop Grumman from a “buy” rating to a “hold” rating in a report on Monday, June 24th. Finally, BTIG Research started coverage on Northrop Grumman in a report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $510.36.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $435.95 on Monday. The stock has a market cap of $64.52 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.03 and a beta of 0.33. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. The stock has a fifty day moving average of $456.07 and a 200-day moving average of $459.11.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the prior year, the business earned $5.50 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Northrop Grumman Co. will post 24.7 earnings per share for the current year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Friday, May 24th. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. This represents a $8.24 annualized dividend and a yield of 1.89%. Northrop Grumman’s dividend payout ratio is currently 57.62%.

Northrop Grumman Company 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.