Traynor Capital Management Inc. Boosts Holdings in Northrop Grumman Co. (NYSE:NOC)

Traynor Capital Management Inc. grew its position in shares of Northrop Grumman Co. (NYSE:NOCGet Rating) by 393.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,916 shares of the aerospace company’s stock after purchasing an additional 2,325 shares during the period. Traynor Capital Management Inc.’s holdings in Northrop Grumman were worth $1,304,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake in shares of Northrop Grumman by 6.8% in the 4th quarter. CIBC Asset Management Inc now owns 14,966 shares of the aerospace company’s stock valued at $5,793,000 after acquiring an additional 952 shares during the last quarter. HYA Advisors Inc bought a new position in shares of Northrop Grumman in the first quarter worth approximately $214,000. Illinois Municipal Retirement Fund increased its stake in shares of Northrop Grumman by 52.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 2,607 shares of the aerospace company’s stock worth $1,009,000 after buying an additional 896 shares during the period. Sei Investments Co. raised its holdings in Northrop Grumman by 18.3% during the 4th quarter. Sei Investments Co. now owns 73,596 shares of the aerospace company’s stock valued at $28,471,000 after buying an additional 11,386 shares during the last quarter. Finally, Atria Investments LLC boosted its position in Northrop Grumman by 6.8% during the 3rd quarter. Atria Investments LLC now owns 12,386 shares of the aerospace company’s stock valued at $4,461,000 after buying an additional 784 shares during the period. 84.52% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NOC opened at $458.61 on Thursday. The company has a market cap of $71.29 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 3.07 and a beta of 0.71. The business’s fifty day simple moving average is $458.33 and its two-hundred day simple moving average is $426.50. Northrop Grumman Co. has a 12 month low of $344.89 and a 12 month high of $492.30. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.97.

Northrop Grumman (NYSE:NOCGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The aerospace company reported $6.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.95 by $0.15. Northrop Grumman had a return on equity of 32.82% and a net margin of 16.33%. The firm had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the company posted $6.57 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, research analysts forecast that Northrop Grumman Co. will post 24.8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Friday, May 27th. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.57. Northrop Grumman’s dividend payout ratio is 19.07%.

NOC has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Northrop Grumman from $428.00 to $521.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Wells Fargo & Company boosted their price objective on shares of Northrop Grumman from $390.00 to $472.00 and gave the company an “equal weight” rating in a research report on Monday, March 7th. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Tuesday, May 17th. UBS Group increased their target price on Northrop Grumman from $410.00 to $450.00 in a research report on Friday, April 29th. Finally, Argus lifted their price target on Northrop Grumman from $420.00 to $495.00 in a research report on Thursday, May 12th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and an average price target of $442.80.

About Northrop Grumman (Get Rating)

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.

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

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