Magnetar Financial LLC Acquires Shares of 4,807 Northrop Grumman Co. (NYSE:NOC)

Magnetar Financial LLC bought a new position in Northrop Grumman Co. (NYSE:NOC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,807 shares of the aerospace company’s stock, valued at approximately $2,096,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Optimum Investment Advisors increased its stake in Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Northrop Grumman in the 2nd quarter worth $28,000. Meeder Asset Management Inc. boosted its position in shares of Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares during the last quarter. Rise Advisors LLC purchased a new position in Northrop Grumman in the 1st quarter worth about $38,000. Finally, Riverview Trust Co bought a new stake in shares of Northrop Grumman in the first quarter worth approximately $47,000. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Up 1.5 %

NYSE NOC opened at $533.20 on Tuesday. The stock has a 50 day moving average price of $498.09 and a 200-day moving average price of $470.38. Northrop Grumman Co. has a one year low of $414.56 and a one year high of $534.61. The company has a market capitalization of $78.91 billion, a P/E ratio of 37.29, a P/E/G ratio of 2.36 and a beta of 0.34. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating the consensus estimate of $5.93 by $0.43. The business had revenue of $10.22 billion during the quarter, compared to analyst estimates of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. Northrop Grumman’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $5.34 earnings per share. As a group, equities analysts predict that Northrop Grumman Co. will post 25.14 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.55%. Northrop Grumman’s dividend payout ratio (DPR) is presently 57.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. BTIG Research initiated coverage on shares of Northrop Grumman in a report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price on the stock. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price for the company. in a research report on Tuesday, August 27th. Royal Bank of Canada increased their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Sanford C. Bernstein cut Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a report on Friday, June 21st. Finally, Wells Fargo & Company upped their price target on Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $523.20.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the transaction, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The disclosure for this sale can be found here. Insiders have sold a total of 2,846 shares of company stock worth $1,393,028 over the last ninety days. Company insiders own 0.22% of the company’s stock.

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.