Founders Financial Securities LLC Grows Holdings in Northrop Grumman Co. (NYSE:NOC)

Founders Financial Securities LLC raised its position in shares of Northrop Grumman Co. (NYSE:NOC) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,381 shares of the aerospace company’s stock after purchasing an additional 100 shares during the quarter. Founders Financial Securities LLC’s holdings in Northrop Grumman were worth $1,038,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NOC. Optimum Investment Advisors boosted its stake in shares of Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 41 shares during the period. Frazier Financial Advisors LLC purchased a new position in Northrop Grumman in the 4th quarter worth approximately $29,000. Bank & Trust Co bought a new position in Northrop Grumman in the 2nd quarter worth approximately $28,000. Rise Advisors LLC bought a new position in Northrop Grumman in the 1st quarter worth approximately $38,000. Finally, Riverview Trust Co purchased a new stake in Northrop Grumman during the 1st quarter valued at approximately $47,000. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Performance

NYSE NOC opened at $523.49 on Thursday. The business’s 50 day moving average price is $475.08 and its 200-day moving average price is $464.53. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $528.76. The company has a market cap of $77.47 billion, a P/E ratio of 36.61, a P/E/G ratio of 2.40 and a beta of 0.32. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter in the previous year, the business posted $5.34 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. Sell-side analysts predict that Northrop Grumman Co. will post 25.15 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is currently 57.62%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. BTIG Research began coverage on shares of Northrop Grumman in a report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price on the stock. Jefferies Financial Group decreased their price target on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research note on Tuesday, June 18th. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Wells Fargo & Company boosted their target price on Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, Sanford C. Bernstein cut Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target for the company. in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $523.20.

Insiders Place Their Bets

In other news, VP Thomas H. Jones sold 1,389 shares of the 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 sale, the vice president now directly owns 6,755 shares in the company, valued at $3,225,917.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The disclosure for this sale can be found here. Insiders sold a total of 2,813 shares of company stock valued at $1,375,877 over the last 90 days. Insiders own 0.22% of the company’s stock.

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.