Arbejdsmarkedets Tillaegspension lowered its stake in Northrop Grumman Corporation (NYSE:NOC – Free Report) by 12.1% during the first quarter, HoldingsChannel reports. The firm owned 37,142 shares of the aerospace company’s stock after selling 5,099 shares during the period. Arbejdsmarkedets Tillaegspension’s holdings in Northrop Grumman were worth $25,340,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in NOC. Brighton Jones LLC grew its position in Northrop Grumman by 176.3% during the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company’s stock worth $1,394,000 after purchasing an additional 1,895 shares in the last quarter. Bison Wealth LLC lifted its holdings in shares of Northrop Grumman by 5.3% in the fourth quarter. Bison Wealth LLC now owns 641 shares of the aerospace company’s stock valued at $301,000 after purchasing an additional 32 shares in the last quarter. Woodline Partners LP boosted its position in shares of Northrop Grumman by 367.7% in the first quarter. Woodline Partners LP now owns 2,516 shares of the aerospace company’s stock worth $1,288,000 after buying an additional 1,978 shares during the period. AXA S.A. boosted its position in shares of Northrop Grumman by 1,487.8% in the second quarter. AXA S.A. now owns 16,338 shares of the aerospace company’s stock worth $8,169,000 after buying an additional 15,309 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in shares of Northrop Grumman by 6.7% during the second quarter. NewEdge Advisors LLC now owns 8,865 shares of the aerospace company’s stock valued at $4,432,000 after buying an additional 553 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.
Northrop Grumman Price Performance
NOC opened at $539.49 on Monday. The stock has a fifty day moving average price of $541.29 and a 200 day moving average price of $625.98. The company has a current ratio of 1.15, a quick ratio of 1.04 and a debt-to-equity ratio of 0.84. Northrop Grumman Corporation has a 1 year low of $493.84 and a 1 year high of $774.00. The stock has a market cap of $76.62 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 3.65 and a beta of -0.10.
Northrop Grumman Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were issued a $2.47 dividend. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.31. This represents a $9.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, June 1st. Northrop Grumman’s dividend payout ratio is currently 30.92%.
Analysts Set New Price Targets
NOC has been the topic of several recent analyst reports. Citigroup dropped their price target on Northrop Grumman from $628.00 to $587.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Wells Fargo & Company restated an “overweight” rating and set a $620.00 price objective on shares of Northrop Grumman in a research report on Wednesday. Raymond James Financial reaffirmed an “outperform” rating on shares of Northrop Grumman in a research note on Monday, June 15th. Morgan Stanley dropped their target price on Northrop Grumman from $765.00 to $745.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Finally, Wall Street Zen cut shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $688.89.
Read Our Latest Stock Report on Northrop Grumman
More Northrop Grumman News
Here are the key news stories impacting Northrop Grumman this week:
- Positive Sentiment: NATO’s plan to acquire up to five Northrop Grumman MQ-4C Triton drones reinforces demand for the company’s surveillance and maritime security platforms, a potential tailwind for future revenue. Northrop Grumman (NOC) Wins NATO Backing For Up To Five Triton Drones
- Positive Sentiment: Analysts continue to view Northrop Grumman as reasonably attractive, with a consensus rating of “Moderate Buy,” which can help support investor confidence ahead of the next earnings report. Northrop Grumman Corporation (NYSE:NOC) Receives Consensus Rating of “Moderate Buy” from Analysts
- Positive Sentiment: Several articles argue Northrop is positioned to beat earnings estimates again, citing its history of topping expectations and favorable setup for the upcoming quarterly report. Why Northrop Grumman (NOC) is Poised to Beat Earnings Estimates Again
- Neutral Sentiment: Market commentary and valuation-focused pieces suggest the stock may be fairly priced after a strong multi-year run, which could limit upside unless earnings or contract growth surprise to the upside. Northrop Grumman (NOC) Stock Looks Fairly Priced Following A 62% Run
- Negative Sentiment: Some recent commentary highlights cost and capital spending concerns, which could weigh on margins if defense program execution becomes more expensive. Northrop Grumman (NOC) After Talpins Interest And Cost Concerns, Bargain Or Fairly Valued?
Northrop Grumman Profile
Northrop Grumman Corporation (NYSE: NOC) is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company’s portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.
The company’s work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.
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