Drive Wealth Management LLC Increases Position in Northrop Grumman Co. (NYSE:NOC)

Drive Wealth Management LLC lifted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 11.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 531 shares of the aerospace company’s stock after purchasing an additional 53 shares during the period. Drive Wealth Management LLC’s holdings in Northrop Grumman were worth $232,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Northrop Grumman in the 4th quarter valued at about $605,000. Victory Capital Management Inc. boosted its holdings in Northrop Grumman by 1.0% in the fourth quarter. Victory Capital Management Inc. now owns 64,016 shares of the aerospace company’s stock valued at $29,968,000 after purchasing an additional 653 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Northrop Grumman by 1.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 66,477 shares of the aerospace company’s stock valued at $31,121,000 after purchasing an additional 1,012 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in Northrop Grumman by 960.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 48 shares in the last quarter. Finally, Accretive Wealth Partners LLC lifted its position in shares of Northrop Grumman by 10.5% during the 4th quarter. Accretive Wealth Partners LLC now owns 528 shares of the aerospace company’s stock worth $247,000 after buying an additional 50 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOC has been the topic of a number of recent analyst reports. Sanford C. Bernstein downgraded shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a research report on Friday, June 21st. Jefferies Financial Group cut their target price on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research report on Tuesday, June 18th. Alembic Global Advisors cut 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. Wells Fargo & Company lifted 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. Finally, StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. One research 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $523.20.

Northrop Grumman Trading Up 0.7 %

NYSE:NOC opened at $523.21 on Monday. The stock has a market capitalization of $77.43 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 2.40 and a beta of 0.32. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $523.62. The stock has a fifty day moving average price of $469.50 and a two-hundred day moving average price of $463.09. 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 announced its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. During the same quarter last year, the firm posted $5.34 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northrop Grumman Co. will post 25.15 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a $2.06 dividend. The ex-dividend date of this dividend is 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 57.62%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, 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 sale, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’s 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 transaction, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the sale, the vice president now owns 6,755 shares in the company, valued at $3,225,917.80. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.

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.