Golden State Equity Partners Has $607,000 Stock Holdings in Northrop Grumman Corporation (NYSE:NOC)

Golden State Equity Partners increased its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 16.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,185 shares of the aerospace company’s stock after buying an additional 169 shares during the quarter. Golden State Equity Partners’ holdings in Northrop Grumman were worth $607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAM Holding AG raised its holdings in shares of Northrop Grumman by 51.9% during the first quarter. GAM Holding AG now owns 2,338 shares of the aerospace company’s stock worth $1,197,000 after acquiring an additional 799 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Northrop Grumman by 12.8% during the fourth quarter. Schroder Investment Management Group now owns 8,857 shares of the aerospace company’s stock worth $4,132,000 after acquiring an additional 1,008 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Northrop Grumman by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company’s stock worth $1,417,850,000 after acquiring an additional 21,903 shares in the last quarter. RFG Bristol Wealth Advisors LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth $284,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of Northrop Grumman by 74.4% during the fourth quarter. Teacher Retirement System of Texas now owns 156,149 shares of the aerospace company’s stock worth $73,279,000 after acquiring an additional 66,638 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Trading Up 0.7%

Northrop Grumman stock opened at $487.45 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.95. The business’s 50-day simple moving average is $486.70 and its 200-day simple moving average is $483.17. The firm has a market capitalization of $70.16 billion, a PE ratio of 19.24, a PEG ratio of 5.29 and a beta of 0.14. Northrop Grumman Corporation has a 52 week low of $422.69 and a 52 week high of $555.57.

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

Northrop Grumman Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a dividend of $2.31 per share. The ex-dividend date was Monday, June 2nd. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a yield of 1.90%. Northrop Grumman’s dividend payout ratio (DPR) is 36.46%.

Analysts Set New Price Targets

Several analysts recently issued reports on NOC shares. Wells Fargo & Company set a $525.00 price objective on Northrop Grumman and gave the stock an “overweight” rating in a report on Thursday, April 24th. Morgan Stanley raised their target price on Northrop Grumman from $580.00 to $625.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Wall Street Zen lowered Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, April 24th. The Goldman Sachs Group upgraded Northrop Grumman from a “sell” rating to a “neutral” rating and raised their target price for the company from $424.00 to $521.00 in a report on Friday, April 11th. Finally, Truist Financial cut their target price on Northrop Grumman from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Insider Buying and Selling

In other Northrop Grumman news, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction that occurred 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 sale, the vice president now directly owns 319 shares of the company’s stock, valued at approximately $156,310. The trade was a 75.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas H. Jones sold 729 shares of Northrop Grumman stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the sale, the vice president now directly owns 7,552 shares in the company, valued at $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. Insiders have sold a total of 16,569 shares of company stock valued at $8,322,279 over the last three months. 0.23% of the stock is owned by corporate 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.