Pallas Capital Advisors LLC Takes Position in Northrop Grumman Co. (NYSE:NOC)

Pallas Capital Advisors LLC bought a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 997 shares of the aerospace company’s stock, valued at approximately $522,000.

Several other large investors have also recently made changes to their positions in NOC. Optimum Investment Advisors increased its position in shares of Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of Northrop Grumman during the 2nd quarter valued at $28,000. Meeder Asset Management Inc. increased its holdings in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Northrop Grumman in the 2nd quarter worth about $47,000. Finally, Larson Financial Group LLC increased its holdings in Northrop Grumman by 281.5% in the 1st quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 76 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOC has been the subject of several recent research reports. Royal Bank of Canada lifted their price objective on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. UBS Group lifted their price objective on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Susquehanna lifted their price objective on Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Barclays lifted their price objective on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Morgan Stanley raised their target price on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $550.56.

Northrop Grumman Stock Performance

Shares of NOC opened at $505.45 on Thursday. The company has a market cap of $73.64 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 2.31 and a beta of 0.34. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average price of $523.58 and a 200-day moving average price of $482.27. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $6.18 EPS. As a group, equities analysts forecast that Northrop Grumman Co. will post 25.87 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.63%. Northrop Grumman’s dividend payout ratio is 51.05%.

Insider Activity at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 1,490 shares of company stock valued at $747,372. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.