Asset Dedication LLC Buys 85 Shares of Northrop Grumman Corporation (NYSE:NOC)

Asset Dedication LLC raised its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,763 shares of the aerospace company’s stock after acquiring an additional 85 shares during the period. Asset Dedication LLC’s holdings in Northrop Grumman were worth $903,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NOC. Brookstone Capital Management lifted its position in shares of Northrop Grumman by 121.0% during the first quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company’s stock valued at $3,400,000 after purchasing an additional 3,635 shares in the last quarter. GAM Holding AG lifted its position in shares of Northrop Grumman by 51.9% during the 1st quarter. GAM Holding AG now owns 2,338 shares of the aerospace company’s stock worth $1,197,000 after buying an additional 799 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Northrop Grumman by 12.8% during the 4th quarter. Schroder Investment Management Group now owns 8,857 shares of the aerospace company’s stock worth $4,132,000 after buying an additional 1,008 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Northrop Grumman by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company’s stock worth $1,417,850,000 after buying an additional 21,903 shares during the last quarter. Finally, RFG Bristol Wealth Advisors LLC bought a new position in shares of Northrop Grumman in the fourth quarter valued at approximately $284,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Susquehanna cut their price objective on Northrop Grumman from $557.00 to $540.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial cut their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Wall Street Zen lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Thursday, April 24th. Finally, UBS Group reduced their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $550.00.

Northrop Grumman Trading Up 0.2%

Shares of NOC stock opened at $514.65 on Monday. The stock has a market capitalization of $74.07 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 6.11 and a beta of 0.15. The company’s fifty day simple moving average is $489.32 and its two-hundred day simple moving average is $485.75. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $555.57. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.84.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. As a group, analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were given a $2.31 dividend. This is a positive change from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Monday, June 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 36.46%.

Insider Activity

In related news, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total transaction of $485,590.00. Following the completion of the sale, the vice president owned 319 shares of the company’s stock, valued at approximately $156,310. This trade represents a 75.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas H. Jones sold 729 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $368,706.33. Following the transaction, the vice president owned 7,552 shares of the company’s stock, valued at approximately $3,819,575.04. The trade was a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,569 shares of company stock valued at $8,323,150. 0.23% of the stock is owned by company insiders.

About Northrop Grumman

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.