Northrop Grumman Corporation $NOC Shares Bought by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lifted its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 29.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,235 shares of the aerospace company’s stock after buying an additional 1,878 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Northrop Grumman were worth $5,531,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Torren Management LLC acquired a new stake in Northrop Grumman during the fourth quarter worth approximately $26,000. Karpus Management Inc. acquired a new position in Northrop Grumman in the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Northrop Grumman in the 4th quarter valued at $29,000. Financial Life Planners purchased a new position in shares of Northrop Grumman during the 1st quarter worth $30,000. Finally, Motiv8 Investments LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth $30,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Trading Up 0.6%

NOC stock opened at $524.95 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.15 and a debt-to-equity ratio of 0.84. The company has a market cap of $74.56 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 3.53 and a beta of -0.10. The business has a fifty day simple moving average of $537.61 and a 200-day simple moving average of $623.79. Northrop Grumman Corporation has a 52 week low of $493.84 and a 52 week high of $774.00.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Tuesday, April 21st. The aerospace company reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $6.06 by $0.08. Northrop Grumman had a return on equity of 24.72% and a net margin of 10.80%.The firm had revenue of $9.88 billion for the quarter, compared to analysts’ expectations of $9.75 billion. During the same quarter last year, the firm earned $6.06 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that Northrop Grumman Corporation will post 27.95 EPS for the current year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were issued a $2.47 dividend. This is a positive change from Northrop Grumman’s previous quarterly dividend of $2.31. The ex-dividend date was Monday, June 1st. This represents a $9.88 dividend on an annualized basis and a dividend yield of 1.9%. Northrop Grumman’s dividend payout ratio (DPR) is 30.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. TD Cowen lowered their price objective on Northrop Grumman from $680.00 to $580.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Jefferies Financial Group reduced their target price on Northrop Grumman from $620.00 to $580.00 and set a “hold” rating on the stock in a research report on Friday, June 26th. BTIG Research restated 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 report on Saturday, April 25th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Northrop Grumman in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $676.29.

About Northrop Grumman

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.