Tempo Wealth LLC acquired a new position in shares of Northrop Grumman Corporation (NYSE:NOC – Free Report) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,252 shares of the aerospace company’s stock, valued at approximately $714,000.
Other institutional investors also recently bought and sold shares of the company. Torren Management LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at $26,000. Karpus Management Inc. purchased a new position in shares of Northrop Grumman in the fourth quarter valued at $26,000. Financial Life Planners acquired a new position in shares of Northrop Grumman during the 3rd quarter worth $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Northrop Grumman during the 4th quarter worth $29,000. Finally, Motiv8 Investments LLC purchased a new stake in shares of Northrop Grumman in the 4th quarter worth about $30,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.
Northrop Grumman Price Performance
Shares of NYSE NOC opened at $521.85 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.15 and a quick ratio of 1.04. Northrop Grumman Corporation has a 1-year low of $481.28 and a 1-year high of $774.00. The business has a 50-day moving average of $577.31 and a 200-day moving average of $630.06. The company has a market capitalization of $74.12 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 3.75 and a beta of -0.12.
Northrop Grumman Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st were paid a dividend of $2.47 per share. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.31. The ex-dividend date was Monday, June 1st. This represents a $9.88 dividend on an annualized basis and a yield of 1.9%. Northrop Grumman’s payout ratio is 30.92%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Jefferies Financial Group lowered their price target on shares of Northrop Grumman from $660.00 to $620.00 and set a “buy” rating on the stock in a research report on Tuesday, May 26th. BTIG Research restated a “buy” rating and issued a $815.00 price target on shares of Northrop Grumman in a report on Wednesday, April 22nd. Wells Fargo & Company began coverage on shares of Northrop Grumman in a research note on Wednesday, April 1st. They set an “overweight” rating and a $800.00 price target on the stock. Wall Street Zen lowered shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a report on Saturday, April 25th. Finally, UBS Group lowered their price objective on shares of Northrop Grumman from $806.00 to $745.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $702.63.
About Northrop Grumman
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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