Sargent Investment Group LLC bought a new position in Northrop Grumman Corporation (NYSE:NOC – Free Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 3,018 shares of the aerospace company’s stock, valued at approximately $1,721,000.
Several other hedge funds have also added to or reduced their stakes in NOC. Vanguard Group Inc. boosted its position in Northrop Grumman by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 13,740,721 shares of the aerospace company’s stock valued at $7,835,097,000 after buying an additional 209,135 shares during the period. Capital World Investors increased its holdings in shares of 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 buying an additional 970,029 shares during the period. Geode Capital Management LLC lifted its stake in shares of Northrop Grumman by 0.6% in 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 acquiring an additional 17,948 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Northrop Grumman by 4.3% in 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 acquiring an additional 128,855 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Northrop Grumman by 0.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,624,658 shares of the aerospace company’s stock valued at $990,046,000 after acquiring an additional 4,844 shares during the period. 83.40% of the stock is owned by institutional investors.
Northrop Grumman Trading Down 0.2%
NOC opened at $549.42 on Monday. Northrop Grumman Corporation has a one year low of $481.28 and a one year high of $774.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.15 and a quick ratio of 1.04. The business has a 50 day simple moving average of $589.86 and a two-hundred day simple moving average of $630.84. The firm has a market capitalization of $78.03 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.75 and a beta of -0.12.
Northrop Grumman Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st will be given 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 of this dividend is Monday, June 1st. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.31. Northrop Grumman’s payout ratio is presently 30.92%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on NOC shares. BTIG Research restated a “buy” rating and set a $815.00 price target on shares of Northrop Grumman in a research report on Wednesday, April 22nd. Jefferies Financial Group dropped their price objective on Northrop Grumman from $660.00 to $620.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Wall Street Zen cut shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a report on Saturday, April 25th. UBS Group decreased their target price on shares of Northrop Grumman from $806.00 to $745.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, Morgan Stanley lowered their price target on shares of Northrop Grumman from $765.00 to $745.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $702.63.
Get Our Latest Research Report on Northrop Grumman
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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