Vestcor Inc boosted its holdings in Northrop Grumman Corporation (NYSE:NOC – Free Report) by 65.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,214 shares of the aerospace company’s stock after acquiring an additional 2,452 shares during the period. Vestcor Inc’s holdings in Northrop Grumman were worth $3,543,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Torren Management LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $26,000. Financial Life Planners bought a new stake in Northrop Grumman in the 3rd quarter valued at $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $29,000. Hopwood Financial Services Inc. bought a new position in Northrop Grumman in the 3rd quarter valued at about $30,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in Northrop Grumman in the 3rd quarter valued at about $32,000. Institutional investors own 83.40% of the company’s stock.
Northrop Grumman Stock Performance
Shares of NYSE:NOC opened at $544.73 on Friday. The company’s 50 day simple moving average is $603.63 and its 200 day simple moving average is $631.07. The stock has a market capitalization of $77.37 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 3.71 and a beta of -0.12. 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 $472.02 and a 1 year high of $774.00.
Northrop Grumman Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Monday, June 1st will be paid a $2.47 dividend. This represents a $9.88 dividend on an annualized basis and a yield of 1.8%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $2.31. The ex-dividend date of this dividend is Monday, June 1st. Northrop Grumman’s payout ratio is 30.92%.
Analyst Upgrades and Downgrades
NOC has been the topic of several research analyst reports. 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 report on Tuesday, May 26th. BTIG Research reissued a “buy” rating and issued a $815.00 price target on shares of Northrop Grumman in a report on Wednesday, April 22nd. Wall Street Zen cut Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research report on Saturday, April 25th. Morgan Stanley lowered their price objective 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. Finally, Wells Fargo & Company began coverage on Northrop Grumman in a research report on Wednesday, April 1st. They set an “overweight” rating and a $800.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $702.63.
Get Our Latest Stock Analysis on Northrop Grumman
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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