Axxcess Wealth Management LLC Acquires 292 Shares of Northrop Grumman Co. (NYSE:NOC)

Axxcess Wealth Management LLC lifted its holdings in shares of Northrop Grumman Co. (NYSE:NOCGet Rating) by 47.6% in the second quarter, Holdings Channel.com reports. The fund owned 905 shares of the aerospace company’s stock after purchasing an additional 292 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Northrop Grumman were worth $433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lansing Street Advisors bought a new position in Northrop Grumman during the 1st quarter valued at about $25,000. Kings Point Capital Management lifted its holdings in Northrop Grumman by 83.3% during the 1st quarter. Kings Point Capital Management now owns 55 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 25 shares during the last quarter. Charter Oak Capital Management LLC bought a new position in Northrop Grumman during the 2nd quarter valued at about $31,000. Core Alternative Capital lifted its holdings in Northrop Grumman by 666.7% during the 1st quarter. Core Alternative Capital now owns 69 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 60 shares during the last quarter. Finally, Sargent Bickham Lagudis LLC increased its position in Northrop Grumman by 100.0% in the 2nd quarter. Sargent Bickham Lagudis LLC now owns 86 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 43 shares in the last quarter. 83.91% of the stock is owned by institutional investors.

Northrop Grumman Stock Down 0.4 %

Shares of NYSE NOC opened at $522.34 on Thursday. The stock has a market cap of $80.39 billion, a P/E ratio of 14.84, a P/E/G ratio of 7.44 and a beta of 0.64. The firm has a 50 day moving average price of $505.21 and a 200 day moving average price of $481.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 1.14. Northrop Grumman Co. has a 52-week low of $345.91 and a 52-week high of $556.27.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Monday, November 28th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, November 25th. Northrop Grumman’s dividend payout ratio is currently 19.66%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NOC shares. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Thursday, November 17th. Wolfe Research started coverage on shares of Northrop Grumman in a research report on Monday, October 10th. They issued an “outperform” rating and a $565.00 price objective for the company. JPMorgan Chase & Co. cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $490.00 price objective for the company. in a research report on Friday, October 14th. Cowen raised their price objective on shares of Northrop Grumman to $570.00 in a research report on Tuesday, November 1st. Finally, Morgan Stanley raised their price objective on shares of Northrop Grumman from $530.00 to $585.00 and gave the company an “overweight” rating in a research report on Thursday, November 10th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $536.92.

About Northrop Grumman

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Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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.

Further Reading

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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