DRW Securities LLC Makes New $470,000 Investment in Northrop Grumman Co. (NYSE:NOC)

DRW Securities LLC bought a new position in Northrop Grumman Co. (NYSE:NOC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,075 shares of the aerospace company’s stock, valued at approximately $470,000.

A number of other hedge funds also recently made changes to their positions in the stock. Optimum Investment Advisors increased its holdings in shares of Northrop Grumman by 241.2% during the second 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 stake in shares of Northrop Grumman during the 2nd quarter valued at $28,000. Meeder Asset Management Inc. grew its position in Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares during the last quarter. Rise Advisors LLC acquired a new position in Northrop Grumman in the 1st quarter worth about $38,000. Finally, Riverview Trust Co bought a new position in Northrop Grumman in the first quarter valued at about $47,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NOC shares. TD Cowen lifted their target price on shares of Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a report on Tuesday, August 27th. BTIG Research assumed coverage on Northrop Grumman in a report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 price objective for the company. UBS Group lifted their target price on Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and increased their price target for the company from $474.00 to $575.00 in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Hold” and an average price target of $523.20.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was 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 approximately $2,317,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the sale, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,846 shares of company stock worth $1,393,028. 0.22% of the stock is owned by company insiders.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $533.20 on Tuesday. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $534.61. The company’s 50-day moving average is $498.09 and its 200 day moving average is $470.38. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market capitalization of $78.91 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 2.36 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The firm had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.34 EPS. On average, equities research analysts forecast that Northrop Grumman Co. will post 25.14 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.55%. Northrop Grumman’s dividend payout ratio is presently 57.62%.

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.