Deerfield Management Company L.P. Series C purchased a new stake in Northrop Grumman Co. (NYSE:NOC – Free Report) 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 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.
Check Out Our Latest Stock Analysis on Northrop Grumman
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.
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