Northrop Grumman Corporation $NOC Shares Newly Bought by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC bought a new position in Northrop Grumman Corporation (NYSE:NOC) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,802 shares of the aerospace company’s stock, valued at approximately $3,289,000.

Other large investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. raised its holdings in shares of Northrop Grumman by 84.2% during the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 512 shares of the aerospace company’s stock worth $248,000 after acquiring an additional 234 shares in the last quarter. M Holdings Securities Inc. bought a new position in shares of Northrop Grumman during the 3rd quarter valued at approximately $757,000. Brighton Jones LLC grew its holdings in shares of Northrop Grumman by 29.0% in the third quarter. Brighton Jones LLC now owns 3,809 shares of the aerospace company’s stock valued at $1,842,000 after purchasing an additional 856 shares in the last quarter. Cullinan Associates Inc. grew its holdings in shares of Northrop Grumman by 0.8% in the third quarter. Cullinan Associates Inc. now owns 4,204 shares of the aerospace company’s stock valued at $2,033,000 after purchasing an additional 34 shares in the last quarter. Finally, Uhlmann Price Securities LLC increased its position in Northrop Grumman by 56.6% in the third quarter. Uhlmann Price Securities LLC now owns 2,697 shares of the aerospace company’s stock worth $1,353,000 after purchasing an additional 975 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Performance

Northrop Grumman stock opened at $525.71 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.23 and a quick ratio of 1.14. Northrop Grumman Corporation has a 1-year low of $470.06 and a 1-year high of $774.00. The firm has a market capitalization of $74.68 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 2.82 and a beta of -0.13. The company’s 50-day moving average is $519.36 and its 200 day moving average is $588.90.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.18 by $0.71. Northrop Grumman had a return on equity of 23.46% and a net margin of 10.37%. The business had revenue of $11.12 billion during the quarter, compared to analyst estimates of $11.14 billion. During the same quarter in the previous year, the business earned $7.67 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts forecast that Northrop Grumman Corporation will post 29.68 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Monday, August 31st were issued a $2.47 dividend. This represents a $9.88 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, August 31st. Northrop Grumman’s dividend payout ratio is presently 31.17%.

Insider Activity

In related news, Director Mark Welsh, III sold 98 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $555.65, for a total transaction of $54,453.70. Following the completion of the sale, the director directly owned 4,314 shares of the company’s stock, valued at approximately $2,397,074.10. This trade represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

NOC has been the topic of a number of recent research reports. UBS Group upped their price target on shares of Northrop Grumman from $694.00 to $698.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Citigroup lifted their price objective on shares of Northrop Grumman from $617.00 to $667.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. BNP Paribas Exane lifted their price objective on shares of Northrop Grumman from $540.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Susquehanna reduced 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. Finally, Morgan Stanley upped their target price on shares of Northrop Grumman from $745.00 to $765.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $643.74.

Northrop Grumman Company Profile

Northrop Grumman Corporation is a U.S.-based aerospace and defense company that develops and produces systems for government and commercial customers. Its business spans aeronautics, defense, mission technologies and space, including military aircraft, autonomous systems, missile and air-defense capabilities, sensors, communications and satellites.

The company is the prime contractor for the B-21 Raider and is developing the Sentinel intercontinental ballistic missile system. It also supplies technologies and components for other defense programs, as well as launch vehicles, propulsion systems and spacecraft.

Northrop Grumman traces its roots to Northrop Aircraft, founded in 1939, and Grumman, founded in 1930; the two companies combined in 1994.