State of Tennessee Treasury Department Purchases 18,387 Shares of Northrop Grumman Co. (NYSE:NOC)

State of Tennessee Treasury Department raised its stake in Northrop Grumman Co. (NYSE:NOCFree Report) by 40.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,458 shares of the aerospace company’s stock after purchasing an additional 18,387 shares during the quarter. State of Tennessee Treasury Department’s holdings in Northrop Grumman were worth $29,707,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Northrop Grumman by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,488,412 shares of the aerospace company’s stock worth $1,975,754,000 after acquiring an additional 410,736 shares during the period. Morgan Stanley boosted its stake in shares of Northrop Grumman by 3.5% during the 3rd quarter. Morgan Stanley now owns 4,194,298 shares of the aerospace company’s stock worth $1,846,289,000 after acquiring an additional 142,036 shares during the period. Sanders Capital LLC boosted its stake in shares of Northrop Grumman by 3.7% during the 4th quarter. Sanders Capital LLC now owns 2,271,466 shares of the aerospace company’s stock worth $1,063,364,000 after acquiring an additional 80,887 shares during the period. Northern Trust Corp boosted its stake in shares of Northrop Grumman by 1.3% during the 4th quarter. Northern Trust Corp now owns 1,260,599 shares of the aerospace company’s stock worth $590,137,000 after acquiring an additional 16,275 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Northrop Grumman by 74.7% during the 3rd quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock worth $517,028,000 after acquiring an additional 502,060 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Susquehanna lifted their target price on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research note on Friday, April 26th. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target for the company in a report on Monday, April 22nd. Wells Fargo & Company lifted their price target on Northrop Grumman from $483.00 to $518.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Finally, Robert W. Baird lifted their price target on Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $514.33.

Read Our Latest Report on NOC

Northrop Grumman Price Performance

Shares of NOC stock opened at $435.76 on Tuesday. Northrop Grumman Co. has a twelve month low of $414.56 and a twelve month high of $496.89. The business has a fifty day simple moving average of $463.55 and a 200 day simple moving average of $463.70. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04. The company has a market cap of $64.49 billion, a P/E ratio of 30.47, a P/E/G ratio of 2.05 and a beta of 0.35.

Northrop Grumman (NYSE:NOCGet Free Report) last issued its earnings results 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 business had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the prior year, the firm earned $5.50 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that Northrop Grumman Co. will post 24.7 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, May 24th. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s dividend payout ratio is presently 57.62%.

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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