Victrix Investment Advisors Has $1.26 Million Stock Position in Northrop Grumman Corporation (NYSE:NOC)

Victrix Investment Advisors boosted its holdings in Northrop Grumman Corporation (NYSE:NOC) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,462 shares of the aerospace company’s stock after acquiring an additional 197 shares during the quarter. Victrix Investment Advisors’ holdings in Northrop Grumman were worth $1,261,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NOC. Redhawk Wealth Advisors Inc. grew its stake in shares of Northrop Grumman by 3.0% during the first quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company’s stock worth $330,000 after buying an additional 19 shares during the last quarter. Salvus Wealth Management LLC boosted its holdings in shares of Northrop Grumman by 1.5% during the 1st quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company’s stock valued at $691,000 after acquiring an additional 20 shares in the last quarter. IAG Wealth Partners LLC grew its position in Northrop Grumman by 8.4% during the 1st quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company’s stock worth $139,000 after acquiring an additional 21 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Northrop Grumman by 2.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock worth $472,000 after purchasing an additional 22 shares in the last quarter. Finally, Jacobi Capital Management LLC raised its position in Northrop Grumman by 1.2% in the fourth quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company’s stock valued at $933,000 after purchasing an additional 23 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NOC. Truist Financial reduced their price target on Northrop Grumman from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Royal Bank Of Canada reduced their target price on shares of Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group upgraded shares of Northrop Grumman from a “sell” rating to a “neutral” rating and upped their price target for the company from $424.00 to $521.00 in a research report on Friday, April 11th. Wells Fargo & Company set a $525.00 price target on shares of Northrop Grumman and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Morgan Stanley increased their price objective on Northrop Grumman from $580.00 to $625.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus target price of $552.54.

Northrop Grumman Price Performance

NOC stock opened at $493.74 on Friday. 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 company’s fifty day simple moving average is $485.77 and its 200 day simple moving average is $483.27. Northrop Grumman Corporation has a 12-month low of $422.69 and a 12-month high of $555.57. The firm has a market cap of $71.06 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 5.32 and a beta of 0.14.

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

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a dividend of $2.31 per share. The ex-dividend date was Monday, June 2nd. This is a positive change from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a yield of 1.87%. Northrop Grumman’s dividend payout ratio is currently 36.46%.

Insiders Place Their Bets

In other news, VP Thomas H. Jones sold 729 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the transaction, the vice president now directly owns 7,552 shares of the company’s stock, valued at $3,819,575.04. This represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kathy J. Warden sold 7,500 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the sale, the chief executive officer now owns 201,602 shares of the company’s stock, valued at $101,964,243.54. This trade represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,569 shares of company stock worth $8,322,279. 0.23% of the stock is currently owned by company insiders.

About Northrop Grumman

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.