Northrop Grumman Co. (NYSE:NOC) Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC raised its holdings in Northrop Grumman Co. (NYSE:NOC) by 49.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,631 shares of the aerospace company’s stock after acquiring an additional 1,538 shares during the quarter. SteelPeak Wealth LLC’s holdings in Northrop Grumman were worth $2,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Northrop Grumman by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 4,488,412 shares of the aerospace company’s stock valued at $1,975,754,000 after buying an additional 410,736 shares in the last quarter. Morgan Stanley lifted its position in shares of Northrop Grumman by 3.5% in the third quarter. Morgan Stanley now owns 4,194,298 shares of the aerospace company’s stock worth $1,846,289,000 after purchasing an additional 142,036 shares in the last quarter. Sanders Capital LLC lifted its position in shares of Northrop Grumman by 3.7% in the fourth quarter. Sanders Capital LLC now owns 2,271,466 shares of the aerospace company’s stock worth $1,063,364,000 after purchasing an additional 80,887 shares in the last quarter. Northern Trust Corp lifted its position in shares of Northrop Grumman by 1.3% in the fourth quarter. Northern Trust Corp now owns 1,260,599 shares of the aerospace company’s stock worth $590,137,000 after purchasing an additional 16,275 shares in the last quarter. Finally, Putnam Investments LLC increased its holdings in Northrop Grumman by 2.6% in the fourth quarter. Putnam Investments LLC now owns 1,156,477 shares of the aerospace company’s stock worth $541,393,000 after buying an additional 28,934 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOC has been the topic of several analyst reports. Wells Fargo & Company increased their price target on Northrop Grumman from $483.00 to $518.00 in a report on Tuesday, June 18th. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price objective for the company in a research report on Monday, April 22nd. StockNews.com cut Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday, June 24th. Jefferies Financial Group reduced their target price on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a research report on Tuesday, June 18th. Finally, Susquehanna raised their target price on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $510.36.

Northrop Grumman Price Performance

Shares of NOC stock opened at $435.95 on Monday. The stock has a 50-day moving average price of $456.07 and a 200 day moving average price of $459.11. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04. The firm has a market cap of $64.52 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 2.03 and a beta of 0.33. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $496.89.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The company had revenue of $10.13 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same period in the previous year, the company earned $5.50 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Research analysts expect that Northrop Grumman Co. will post 24.7 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Friday, May 24th. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s payout ratio is 57.62%.

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.