Founders Capital Management Has $2.69 Million Stock Position in Northrop Grumman Co. (NYSE:NOC)

Founders Capital Management lifted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.7% in the third quarter, Holdings Channel reports. The institutional investor owned 5,089 shares of the aerospace company’s stock after acquiring an additional 86 shares during the period. Northrop Grumman makes up about 1.6% of Founders Capital Management’s portfolio, making the stock its 20th largest position. Founders Capital Management’s holdings in Northrop Grumman were worth $2,688,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOC. Optimum Investment Advisors lifted its holdings 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 buying an additional 41 shares in the last quarter. Bank & Trust Co acquired a new position in Northrop Grumman in the second quarter valued at about $28,000. Meeder Asset Management Inc. raised its stake in Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. Rise Advisors LLC acquired a new position in Northrop Grumman in the first quarter valued at about $38,000. Finally, Riverview Trust Co acquired a new position in Northrop Grumman in the first quarter valued at about $47,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NOC shares. Wells Fargo & Company boosted their price target on Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. BTIG Research began coverage on Northrop Grumman in a research note on Wednesday, June 26th. They set a “buy” rating and a $565.00 target price for the company. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and boosted their target price for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Finally, UBS Group boosted their target price on Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $523.20.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the transaction, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 of the company’s stock, valued at $3,225,917.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,846 shares of company stock valued at $1,393,028. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Trading Down 0.5 %

NOC stock traded down $2.77 during trading on Monday, hitting $533.97. The company had a trading volume of 435,019 shares, compared to its average volume of 888,828. The business has a 50-day moving average of $513.44 and a 200-day moving average of $474.85. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The stock has a market cap of $79.02 billion, a PE ratio of 37.39, a PEG ratio of 2.44 and a beta of 0.34. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating 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 business had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. During the same period in the prior year, the business posted $5.34 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Research analysts predict that Northrop Grumman Co. will post 25.14 earnings per share for the current fiscal 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 issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is presently 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.