Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 965 shares of the aerospace company’s stock after purchasing an additional 23 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Northrop Grumman were worth $462,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at approximately $25,000. SRS Capital Advisors Inc. increased its position in Northrop Grumman by 960.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 48 shares during the period. Frazier Financial Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at approximately $29,000. McIlrath & Eck LLC increased its position in Northrop Grumman by 247.6% in the 4th quarter. McIlrath & Eck LLC now owns 73 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. Finally, Rise Advisors LLC acquired a new stake in Northrop Grumman in the 1st quarter valued at approximately $38,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Trading Down 0.1 %

NOC opened at $437.09 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The firm has a market capitalization of $64.68 billion, a PE ratio of 30.57, a P/E/G ratio of 2.04 and a beta of 0.33. The company’s 50-day moving average is $452.83 and its 200 day moving average is $458.44.

Northrop Grumman (NYSE:NOC) last issued 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 net margin of 5.38% and a return on equity of 24.09%. The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the prior year, the firm posted $5.50 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were paid a $2.06 dividend. 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%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NOC shares. BTIG Research started coverage on Northrop Grumman in a research report on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target on the stock. Jefferies Financial Group lowered their price target on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research report on Tuesday, June 18th. Royal Bank of Canada lifted their price target on Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Sanford C. Bernstein cut Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target on the stock. in a research report on Friday, June 21st. Finally, Wells Fargo & Company lifted their price target on Northrop Grumman from $483.00 to $518.00 in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $510.36.

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.