Kiley Juergens Wealth Management LLC acquired a new stake in shares of Northrop Grumman Corporation (NYSE:NOC – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,135 shares of the aerospace company’s stock, valued at approximately $774,000.
A number of other large investors have also added to or reduced their stakes in NOC. Vanguard Group Inc. boosted its stake in shares of Northrop Grumman by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,740,721 shares of the aerospace company’s stock worth $7,835,097,000 after buying an additional 209,135 shares during the last quarter. Capital World Investors boosted its position in Northrop Grumman by 39.4% in the fourth quarter. Capital World Investors now owns 3,434,041 shares of the aerospace company’s stock worth $1,958,151,000 after purchasing an additional 970,029 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Northrop Grumman by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,149,478 shares of the aerospace company’s stock valued at $1,793,478,000 after purchasing an additional 17,948 shares during the period. Franklin Resources Inc. increased its position in shares of Northrop Grumman by 4.3% during the 4th quarter. Franklin Resources Inc. now owns 3,125,139 shares of the aerospace company’s stock valued at $1,781,986,000 after purchasing an additional 128,855 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Northrop Grumman by 3.9% in the 4th quarter. Invesco Ltd. now owns 1,666,517 shares of the aerospace company’s stock worth $950,265,000 after purchasing an additional 62,817 shares during the period. Institutional investors own 83.40% of the company’s stock.
Northrop Grumman Trading Down 0.0%
NOC stock traded down $0.11 during mid-day trading on Tuesday, reaching $547.64. 146,722 shares of the stock traded hands, compared to its average volume of 948,696. Northrop Grumman Corporation has a one year low of $493.84 and a one year high of $774.00. The stock has a market capitalization of $77.78 billion, a PE ratio of 17.14, a PEG ratio of 3.74 and a beta of -0.10. 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 business has a 50-day moving average price of $544.85 and a two-hundred day moving average price of $626.92.
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 given a $2.47 dividend. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.31. The ex-dividend date of this dividend was Monday, June 1st. This represents a $9.88 annualized dividend and a yield of 1.8%. Northrop Grumman’s dividend payout ratio is currently 30.92%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on NOC shares. Citigroup dropped their price target on shares of Northrop Grumman from $628.00 to $587.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Morgan Stanley lowered their target price on Northrop Grumman from $765.00 to $745.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. BTIG Research reissued a “buy” rating and set a $815.00 price target on shares of Northrop Grumman in a report on Wednesday, April 22nd. Jefferies Financial Group reduced their price target on Northrop Grumman from $620.00 to $580.00 and set a “hold” rating for the company in a research report on Friday, June 26th. Finally, Weiss Ratings downgraded Northrop Grumman from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and an average target price of $698.37.
Get Our Latest Stock Analysis on Northrop Grumman
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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