Kingsview Wealth Management LLC bought a new stake in Northrop Grumman Corporation (NYSE:NOC – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,885 shares of the aerospace company’s stock, valued at approximately $3,507,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Life Planners bought a new position in shares of Northrop Grumman in the 1st quarter worth $30,000. Torren Management LLC bought a new stake in shares of Northrop Grumman during the 4th quarter worth $26,000. Karpus Management Inc. purchased a new position in Northrop Grumman in the fourth quarter worth $26,000. Whipplewood Advisors LLC grew its position in Northrop Grumman by 380.0% in the first quarter. Whipplewood Advisors LLC now owns 48 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 38 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new position in Northrop Grumman in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.
Northrop Grumman Stock Up 0.1%
Shares of NYSE:NOC opened at $545.83 on Friday. The stock has a market capitalization of $77.52 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 3.53 and a beta of -0.11. The stock’s 50-day moving average price is $542.33 and its 200-day moving average price is $604.78. The company has a current ratio of 1.17, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. Northrop Grumman Corporation has a 12-month low of $479.02 and a 12-month high of $774.00.
Northrop Grumman Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Monday, August 31st will be issued a dividend of $2.47 per share. This represents a $9.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, August 31st. Northrop Grumman’s dividend payout ratio is currently 31.39%.
Analysts Set New Price Targets
NOC has been the topic of a number of research reports. Sanford C. Bernstein restated a “market perform” rating and set a $653.00 price target on shares of Northrop Grumman in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft set a $615.00 price objective on Northrop Grumman in a research report on Wednesday, July 22nd. Morgan Stanley set a $745.00 price objective on Northrop Grumman in a report on Wednesday, July 15th. TD Cowen boosted their target price on Northrop Grumman from $550.00 to $590.00 and gave the stock a “hold” rating in a research report on Wednesday, August 19th. Finally, Weiss Ratings raised Northrop Grumman from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $661.30.
Insider Buying and Selling
In other Northrop Grumman news, Director Mark A. Welsh III sold 95 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $547.53, for a total transaction of $52,015.35. Following the completion of the sale, the director owned 4,393 shares of the company’s stock, valued at $2,405,299.29. This represents a 2.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by corporate insiders.
Northrop Grumman Company 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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