Chicago Partners Investment Group LLC Purchases 2,902 Shares of Northrop Grumman Corporation $NOC

Chicago Partners Investment Group LLC grew its stake in Northrop Grumman Corporation (NYSE:NOC) by 349.6% in the second quarter, HoldingsChannel.com reports. The fund owned 3,732 shares of the aerospace company’s stock after acquiring an additional 2,902 shares during the period. Chicago Partners Investment Group LLC’s holdings in Northrop Grumman were worth $1,866,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. IMA Advisory Services Inc. bought a new stake in shares of Northrop Grumman in the 1st quarter valued at about $27,000. Saudi Central Bank bought a new stake in shares of Northrop Grumman in the 1st quarter valued at about $28,000. Banque Cantonale Vaudoise bought a new stake in shares of Northrop Grumman in the 1st quarter valued at about $30,000. Flaharty Asset Management LLC bought a new stake in shares of Northrop Grumman in the 1st quarter valued at about $36,000. Finally, Hollencrest Capital Management increased its stake in shares of Northrop Grumman by 790.0% in the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company’s stock valued at $45,000 after acquiring an additional 79 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $700.00 price target on Northrop Grumman and gave the company a “buy” rating in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on Northrop Grumman from $625.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Barclays boosted their price objective on Northrop Grumman from $500.00 to $580.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Wall Street Zen upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Finally, Truist Financial boosted their price objective on Northrop Grumman from $625.00 to $688.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $617.50.

Northrop Grumman Trading Up 1.2%

NYSE:NOC opened at $601.92 on Tuesday. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $640.90. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average price of $592.91 and a two-hundred day moving average price of $538.16. The company has a market cap of $86.18 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 5.78 and a beta of 0.10.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The company had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter in the prior year, the business posted $6.36 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $2.31 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.5%. Northrop Grumman’s dividend payout ratio is currently 34.06%.

Northrop Grumman 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.