SkyOak Wealth LLC increased its position in Northrop Grumman Corporation (NYSE:NOC – Free Report) by 412.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,615 shares of the aerospace company’s stock after purchasing an additional 1,300 shares during the period. SkyOak Wealth LLC’s holdings in Northrop Grumman were worth $823,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Symphony Financial Ltd. Co. boosted its holdings in shares of Northrop Grumman by 47.9% during the 2nd quarter. Symphony Financial Ltd. Co. now owns 559 shares of the aerospace company’s stock valued at $279,000 after buying an additional 181 shares in the last quarter. Secure Asset Management LLC increased its stake in shares of Northrop Grumman by 61.7% in the 2nd quarter. Secure Asset Management LLC now owns 587 shares of the aerospace company’s stock worth $299,000 after acquiring an additional 224 shares in the last quarter. Midwest Professional Planners LTD. increased its stake in shares of Northrop Grumman by 9.8% in the 2nd quarter. Midwest Professional Planners LTD. now owns 5,502 shares of the aerospace company’s stock worth $2,802,000 after acquiring an additional 490 shares in the last quarter. Investors Research Corp lifted its position in Northrop Grumman by 3,460.0% during the 2nd quarter. Investors Research Corp now owns 890 shares of the aerospace company’s stock valued at $453,000 after acquiring an additional 865 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Northrop Grumman during the 2nd quarter valued at about $411,000. Institutional investors own 83.40% of the company’s stock.
Northrop Grumman Trading Down 1.4%
NYSE:NOC opened at $532.40 on Wednesday. The company’s 50 day moving average price is $543.37 and its 200-day moving average price is $602.06. Northrop Grumman Corporation has a 52 week low of $479.02 and a 52 week high of $774.00. The company has a quick ratio of 1.06, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The stock has a market cap of $75.62 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 3.49 and a beta of -0.11.
Northrop Grumman Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Monday, August 31st will be paid a $2.47 dividend. The ex-dividend date is Monday, August 31st. This represents a $9.88 annualized dividend and a dividend yield of 1.9%. Northrop Grumman’s payout ratio is currently 31.39%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on NOC. Robert W. Baird set a $500.00 price objective on shares of Northrop Grumman in a report on Wednesday, July 22nd. Citigroup lifted their target price on shares of Northrop Grumman from $617.00 to $667.00 and gave the company a “buy” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. dropped their price target on Northrop Grumman from $635.00 to $600.00 and set a “neutral” rating on the stock in a research report on Thursday, July 23rd. Susquehanna cut their price target on Northrop Grumman from $785.00 to $655.00 and set a “positive” rating on the stock in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group reduced their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus price target of $661.30.
View Our Latest Stock Report on NOC
Insider Buying and Selling at Northrop Grumman
In related news, Director Mark A. Welsh III sold 95 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $547.53, for a total transaction of $52,015.35. Following the sale, the director directly owned 4,393 shares of the company’s stock, valued at $2,405,299.29. This trade represents a 2.12% decrease in their ownership of the stock. The transaction 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 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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