RB Capital Management LLC purchased a new position in Northrop Grumman Corporation (NYSE:NOC – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,962 shares of the aerospace company’s stock, valued at approximately $2,018,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC increased its holdings in Northrop Grumman by 176.3% in the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company’s stock worth $1,394,000 after buying an additional 1,895 shares in the last quarter. Bison Wealth LLC lifted its stake in Northrop Grumman by 5.3% during the 4th quarter. Bison Wealth LLC now owns 641 shares of the aerospace company’s stock valued at $301,000 after acquiring an additional 32 shares during the period. Woodline Partners LP lifted its stake in Northrop Grumman by 367.7% during the 1st quarter. Woodline Partners LP now owns 2,516 shares of the aerospace company’s stock valued at $1,288,000 after acquiring an additional 1,978 shares during the period. AXA S.A. boosted its holdings in shares of Northrop Grumman by 1,487.8% during the 2nd quarter. AXA S.A. now owns 16,338 shares of the aerospace company’s stock valued at $8,169,000 after acquiring an additional 15,309 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Northrop Grumman by 6.7% during the 2nd quarter. NewEdge Advisors LLC now owns 8,865 shares of the aerospace company’s stock valued at $4,432,000 after acquiring an additional 553 shares during the last quarter. 83.40% of the stock is owned by institutional investors.
Northrop Grumman Stock Up 0.1%
NOC stock opened at $545.83 on Friday. Northrop Grumman Corporation has a twelve month low of $479.02 and a twelve month 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 $77.52 billion, a P/E ratio of 17.34, a PEG ratio of 3.53 and a beta of -0.11. The business’s 50-day moving average price is $542.33 and its 200-day moving average price is $604.78.
Northrop Grumman Dividend Announcement
The company also recently disclosed 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 of this dividend is Monday, August 31st. This represents a $9.88 dividend on an annualized basis and a dividend yield of 1.8%. Northrop Grumman’s dividend payout ratio is 31.39%.
Analyst Ratings Changes
Several research firms have recently weighed in on NOC. The Goldman Sachs Group decreased their price objective on shares of Northrop Grumman from $603.00 to $533.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Susquehanna dropped their target price on shares of Northrop Grumman from $785.00 to $655.00 and set a “positive” rating on the stock 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 stock a “buy” rating in a research report on Thursday, August 13th. TD Cowen increased their price target on Northrop Grumman from $550.00 to $590.00 and gave the company a “hold” rating in a report on Wednesday, August 19th. Finally, Jefferies Financial Group dropped their price target on Northrop Grumman from $620.00 to $580.00 and set a “hold” rating on the stock in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Northrop Grumman has an average rating of “Moderate Buy” and a consensus price target of $661.30.
Get Our Latest Analysis on NOC
Insider Activity at Northrop Grumman
In other news, Director Mark A. Welsh III sold 95 shares of the firm’s 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 sale, the director directly owned 4,393 shares in the company, valued at $2,405,299.29. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by 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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