Dearborn Partners LLC bought a new position in Northrop Grumman Co. (NYSE:NOC – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 644 shares of the aerospace company’s stock, valued at approximately $288,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOC. Duncker Streett & Co. Inc. increased its stake in Northrop Grumman by 88.6% in the fourth quarter. Duncker Streett & Co. Inc. now owns 66 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter valued at about $26,000. Rather & Kittrell Inc. bought a new stake in Northrop Grumman during the fourth quarter valued at about $26,000. Delos Wealth Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter valued at about $31,000. Finally, Burleson & Company LLC bought a new stake in Northrop Grumman during the first quarter valued at about $34,000. 84.52% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
NOC has been the subject of several recent analyst reports. Morgan Stanley raised their price target on Northrop Grumman from $521.00 to $530.00 and gave the stock an “overweight” rating in a report on Tuesday, July 12th. Argus lifted their target price on Northrop Grumman from $420.00 to $495.00 in a report on Thursday, May 12th. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a report on Tuesday, May 17th. UBS Group lifted their target price on Northrop Grumman from $410.00 to $450.00 in a report on Friday, April 29th. Finally, Cowen set a $510.00 target price on Northrop Grumman in a report on Tuesday, July 19th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $452.80.
Northrop Grumman Stock Up 0.3 %
Northrop Grumman (NYSE:NOC – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The aerospace company reported $6.10 EPS for the quarter, topping the consensus estimate of $5.95 by $0.15. Northrop Grumman had a return on equity of 32.82% and a net margin of 16.33%. The firm had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same period in the previous year, the business earned $6.57 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts forecast that Northrop Grumman Co. will post 24.8 earnings per share for the current fiscal year.
Northrop Grumman Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were paid a dividend of $1.73 per share. The ex-dividend date was Friday, May 27th. This represents a $6.92 dividend on an annualized basis and a yield of 1.55%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.57. Northrop Grumman’s payout ratio is 19.07%.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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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