SmartHarvest Portfolios LLC acquired a new stake in Northrop Grumman Corporation (NYSE:NOC – Free Report) during the 4th quarter, Holdings Channel reports. The firm acquired 1,102 shares of the aerospace company’s stock, valued at approximately $628,000.
Other hedge funds have also recently made changes to their positions in the company. Torren Management LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth about $26,000. Financial Life Planners purchased a new position in Northrop Grumman in the 3rd quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new position in Northrop Grumman in the 4th quarter worth approximately $29,000. KERR FINANCIAL PLANNING Corp bought a new position in Northrop Grumman in the 3rd quarter worth approximately $32,000. Finally, Wexford Capital LP purchased a new stake in Northrop Grumman during the 3rd quarter valued at approximately $33,000. Institutional investors own 83.40% of the company’s stock.
Northrop Grumman Stock Up 1.8%
NYSE NOC opened at $552.05 on Friday. The stock has a 50 day moving average price of $592.82 and a 200-day moving average price of $630.95. Northrop Grumman Corporation has a one year low of $481.28 and a one year high of $774.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.04 and a current ratio of 1.15. The company has a market capitalization of $78.41 billion, a P/E ratio of 17.28, a P/E/G ratio of 3.70 and a beta of -0.12.
Northrop Grumman Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be given a dividend of $2.47 per share. The ex-dividend date is Monday, June 1st. This represents a $9.88 annualized dividend and a dividend yield of 1.8%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $2.31. Northrop Grumman’s dividend payout ratio is currently 30.92%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings cut shares of Northrop Grumman from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Citigroup reduced their price target on shares of Northrop Grumman from $742.00 to $628.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Wells Fargo & Company initiated coverage on shares of Northrop Grumman in a report on Wednesday, April 1st. They set an “overweight” rating and a $800.00 price objective for the company. Finally, Morgan Stanley cut their price objective on Northrop Grumman from $765.00 to $745.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Northrop Grumman has an average rating of “Moderate Buy” and a consensus target price of $702.63.
Get Our Latest Research Report on NOC
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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