Leavell Investment Management Inc. Buys Shares of 407 Northrop Grumman Co. (NYSE:NOC)

Leavell Investment Management Inc. purchased a new position in Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 407 shares of the aerospace company’s stock, valued at approximately $215,000.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Northrop Grumman during the third quarter worth $73,000. Quantum Private Wealth LLC increased its stake in Northrop Grumman by 5.9% in the 3rd quarter. Quantum Private Wealth LLC now owns 2,857 shares of the aerospace company’s stock worth $1,509,000 after buying an additional 160 shares during the period. AIA Group Ltd lifted its holdings in Northrop Grumman by 20.0% during the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock valued at $3,938,000 after buying an additional 1,242 shares in the last quarter. Verity Asset Management Inc. purchased a new stake in Northrop Grumman in the 3rd quarter valued at about $477,000. Finally, Vista Capital Partners Inc. bought a new position in Northrop Grumman in the 3rd quarter worth about $223,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $533.70 on Tuesday. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The company has a market cap of $77.76 billion, a PE ratio of 32.78, a P/E/G ratio of 1.07 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The business has a 50-day simple moving average of $523.76 and a two-hundred day simple moving average of $485.11.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same period last year, the business earned $6.18 EPS. Northrop Grumman’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Northrop Grumman Co. will post 25.95 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.54%. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NOC shares. Morgan Stanley boosted their price target on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Barclays increased their price target on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Alembic Global Advisors downgraded Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a report on Tuesday, August 27th. Susquehanna increased their target price on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $550.56.

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.