Northrop Grumman Co. (NYSE:NOC) Stock Holdings Increased by Grimes & Company Inc.

Grimes & Company Inc. raised its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 552 shares of the aerospace company’s stock after acquiring an additional 47 shares during the period. Grimes & Company Inc.’s holdings in Northrop Grumman were worth $292,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Optimum Investment Advisors raised 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 acquiring an additional 41 shares in the last quarter. Bank & Trust Co acquired a new position in shares of Northrop Grumman during the 2nd quarter valued at $28,000. Meeder Asset Management Inc. increased its position in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Northrop Grumman during the 2nd quarter valued at $47,000. Finally, Larson Financial Group LLC increased its position in shares of Northrop Grumman by 281.5% during the 1st quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 76 shares during the period. Institutional investors own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 1,490 shares of company stock valued at $747,372. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the topic of several research analyst reports. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. UBS Group lifted their price target on Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Morgan Stanley lifted their price target on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Northrop Grumman currently has an average rating of “Hold” and an average price target of $535.00.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $523.68 on Friday. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $76.58 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 2.38 and a beta of 0.34. The stock’s fifty day simple moving average is $522.88 and its 200-day simple moving average is $480.30.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. Northrop Grumman’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.18 earnings per share. On average, sell-side analysts predict that Northrop Grumman Co. will post 25.16 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 given a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.57%. Northrop Grumman’s payout ratio is 53.79%.

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.