Deerfield Management Company L.P. Series C Invests $1.03 Million in Northrop Grumman Co. (NYSE:NOC)

Deerfield Management Company L.P. Series C purchased a new stake in Northrop Grumman Co. (NYSE:NOC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,360 shares of the aerospace company’s stock, valued at approximately $1,029,000.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Northrop Grumman by 104.6% in the second quarter. AQR Capital Management LLC now owns 246,581 shares of the aerospace company’s stock valued at $107,260,000 after acquiring an additional 126,063 shares during the last quarter. NBW Capital LLC grew its stake in shares of Northrop Grumman by 1.0% in the second quarter. NBW Capital LLC now owns 8,779 shares of the aerospace company’s stock valued at $3,827,000 after buying an additional 89 shares in the last quarter. Kingfisher Capital LLC increased its holdings in Northrop Grumman by 2.0% during the second quarter. Kingfisher Capital LLC now owns 3,116 shares of the aerospace company’s stock worth $1,358,000 after buying an additional 62 shares during the last quarter. Toronto Dominion Bank raised its position in Northrop Grumman by 69.5% during the second quarter. Toronto Dominion Bank now owns 167,568 shares of the aerospace company’s stock worth $73,051,000 after acquiring an additional 68,705 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC lifted its stake in Northrop Grumman by 352.2% in the second quarter. Wescott Financial Advisory Group LLC now owns 5,010 shares of the aerospace company’s stock valued at $2,184,000 after acquiring an additional 3,902 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NOC stock opened at $528.11 on Thursday. The company’s 50-day moving average price is $499.98 and its two-hundred day moving average price is $470.88. The firm has a market cap of $78.15 billion, a P/E ratio of 36.93, a P/E/G ratio of 2.44 and a beta of 0.34. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $534.61.

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

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is 57.62%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NOC. TD Cowen lifted their price target on Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research note on Tuesday, August 27th. BTIG Research initiated coverage on shares of Northrop Grumman in a research report on Wednesday, June 26th. They set a “buy” rating and a $565.00 price objective for the company. UBS Group increased their price objective on shares of Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada upped their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $523.20.

Insider Buying and Selling

In other news, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the transaction, the vice president now 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 is accessible through this link. In related news, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was 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 approximately $3,225,917.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. The disclosure for this sale can be found here. Insiders have sold 2,846 shares of company stock worth $1,393,028 in the last 90 days. Insiders own 0.22% of the company’s stock.

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.