Silver Oak Securities Incorporated bought a new position in Northrop Grumman Co. (NYSE:NOC – Free Report) in the third quarter, HoldingsChannel.com reports. The fund bought 742 shares of the aerospace company’s stock, valued at approximately $392,000.
A number of other large investors also recently modified their holdings of NOC. Optimum Investment Advisors lifted its holdings in Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co acquired a new position in shares of Northrop Grumman during the second quarter valued at $28,000. Meeder Asset Management Inc. boosted its holdings in Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 54 shares during the last quarter. Larson Financial Group LLC increased its position in Northrop Grumman by 281.5% in the first quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 76 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Northrop Grumman during the 2nd quarter worth about $52,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.
Northrop Grumman Stock Down 0.8 %
Northrop Grumman stock opened at $519.35 on Friday. The company has a 50 day moving average of $523.54 and a 200-day moving average of $481.03. 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 twelve month low of $418.60 and a twelve month high of $555.57. The stock has a market capitalization of $75.95 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 2.38 and a beta of 0.34.
Northrop Grumman Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were paid a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.59%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 53.79%.
Insider Buying and Selling at Northrop Grumman
In other news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now directly owns 4,634 shares in the company, valued at $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 available at the SEC website. In the last quarter, insiders have sold 1,490 shares of company stock worth $747,372. Corporate insiders own 0.22% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on NOC shares. Morgan Stanley raised their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Wells Fargo & Company raised their price objective on shares of Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and upped their target price for the company from $474.00 to $575.00 in a research report on Monday, July 29th. Barclays lifted their price objective on Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $547.44.
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.
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