Sowell Financial Services LLC Takes Position in Northrop Grumman Corporation (NYSE:NOC)

Sowell Financial Services LLC purchased a new stake in Northrop Grumman Corporation (NYSE:NOC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 838 shares of the aerospace company’s stock, valued at approximately $429,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NOC. GAMMA Investing LLC raised its position in shares of Northrop Grumman by 55,522.3% in the first quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company’s stock valued at $778,336,000 after purchasing an additional 1,517,425 shares during the period. Capital International Investors increased its holdings in Northrop Grumman by 5.9% during the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company’s stock worth $3,866,133,000 after acquiring an additional 461,307 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Northrop Grumman by 28.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company’s stock worth $952,962,000 after acquiring an additional 450,858 shares during the period. First Trust Advisors LP increased its holdings in Northrop Grumman by 337.1% during the 4th quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company’s stock worth $226,250,000 after acquiring an additional 371,814 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Northrop Grumman during the 4th quarter worth approximately $171,580,000. Institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kathy J. Warden sold 3,750 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $495.00, for a total value of $1,856,250.00. Following the completion of the sale, the chief executive officer now directly owns 209,102 shares of the company’s stock, valued at $103,505,490. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Fleming sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the completion of the sale, the vice president now owns 1,827 shares in the company, valued at $924,041.79. This represents a 65.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,569 shares of company stock worth $8,322,279. Insiders own 0.23% of the company’s stock.

Northrop Grumman Trading Up 0.7%

NYSE:NOC opened at $497.92 on Friday. The company has a fifty day moving average of $489.35 and a 200 day moving average of $482.96. Northrop Grumman Corporation has a 52 week low of $422.69 and a 52 week high of $555.57. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $71.66 billion, a P/E ratio of 19.65, a P/E/G ratio of 5.40 and a beta of 0.14.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. On average, research analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were issued a dividend of $2.31 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $9.24 annualized dividend and a yield of 1.86%. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. Northrop Grumman’s payout ratio is currently 36.46%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NOC. Susquehanna decreased their target price on shares of Northrop Grumman from $557.00 to $540.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group raised shares of Northrop Grumman from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $424.00 to $521.00 in a research note on Friday, April 11th. UBS Group cut their price target on shares of Northrop Grumman from $583.00 to $571.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 price target on shares of Northrop Grumman and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, Truist Financial cut their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $548.33.

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.