Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC grew its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 965 shares of the aerospace company’s stock after purchasing an additional 23 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Northrop Grumman were worth $462,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Northrop Grumman by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 4,488,412 shares of the aerospace company’s stock valued at $1,975,754,000 after purchasing an additional 410,736 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Northrop Grumman by 3.5% during the third quarter. Morgan Stanley now owns 4,194,298 shares of the aerospace company’s stock valued at $1,846,289,000 after purchasing an additional 142,036 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of Northrop Grumman by 3.7% during the fourth quarter. Sanders Capital LLC now owns 2,271,466 shares of the aerospace company’s stock valued at $1,063,364,000 after purchasing an additional 80,887 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Northrop Grumman by 1.3% during the fourth quarter. Northern Trust Corp now owns 1,260,599 shares of the aerospace company’s stock valued at $590,137,000 after purchasing an additional 16,275 shares during the last quarter. Finally, Putnam Investments LLC lifted its holdings in shares of Northrop Grumman by 2.6% during the fourth quarter. Putnam Investments LLC now owns 1,156,477 shares of the aerospace company’s stock valued at $541,393,000 after purchasing an additional 28,934 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $437.09 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The stock’s 50-day moving average is $452.83 and its two-hundred day moving average is $458.44. The firm has a market cap of $64.68 billion, a P/E ratio of 30.57, a PEG ratio of 2.04 and a beta of 0.33.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. The business had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.50 EPS. Analysts predict that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were issued a dividend of $2.06 per share. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date of this dividend was Friday, May 24th. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.89%. Northrop Grumman’s dividend payout ratio is currently 57.62%.

Analyst Ratings Changes

Several brokerages have recently commented on NOC. Royal Bank of Canada upped their target price on Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target on the stock in a research report on Monday, April 22nd. BTIG Research assumed coverage on Northrop Grumman in a research report on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target on the stock. Susquehanna upped their price target on Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Finally, Robert W. Baird upped their price target on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $510.36.

Northrop Grumman Company 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.