Summit X LLC boosted its stake in Northrop Grumman Co. (NYSE:NOC) by 17.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,446 shares of the aerospace company’s stock after purchasing an additional 215 shares during the period. Summit X LLC’s holdings in Northrop Grumman were worth $498,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NOC. Icon Wealth Partners LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter valued at about $100,000. Truewealth LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter valued at about $110,000. Centaurus Financial Inc. acquired a new stake in shares of Northrop Grumman during the first quarter valued at about $147,000. Optimum Investment Advisors acquired a new stake in shares of Northrop Grumman during the first quarter valued at about $154,000. Finally, We Are One Seven LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter valued at about $166,000. Hedge funds and other institutional investors own 81.25% of the company’s stock.
Shares of NYSE NOC opened at $312.78 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 2.45 and a debt-to-equity ratio of 1.87. Northrop Grumman Co. has a 52-week low of $252.82 and a 52-week high of $360.88. The stock has a market capitalization of $56.22 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Monday, June 4th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, June 1st. This represents a $4.80 dividend on an annualized basis and a yield of 1.53%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.10. Northrop Grumman’s dividend payout ratio (DPR) is currently 36.14%.
In other Northrop Grumman news, VP Janis G. Pamiljans sold 955 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $338.85, for a total value of $323,601.75. Following the transaction, the vice president now owns 10,466 shares of the company’s stock, valued at $3,546,404.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.62% of the company’s stock.
NOC has been the subject of several recent analyst reports. ValuEngine downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Goldman Sachs Group downgraded Northrop Grumman from a “conviction-buy” rating to a “buy” rating and set a $395.00 target price for the company. in a research note on Tuesday, February 20th. Citigroup reaffirmed a “buy” rating and set a $405.00 price target on shares of Northrop Grumman in a research report on Monday, March 12th. Morgan Stanley increased their price target on shares of Northrop Grumman from $365.00 to $378.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 12th. Finally, Royal Bank of Canada increased their price target on shares of Northrop Grumman to $431.00 and gave the stock an “outperform” rating in a research report on Friday, May 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Northrop Grumman currently has a consensus rating of “Buy” and an average target price of $363.88.
About Northrop Grumman
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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