Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 24.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,387 shares of the aerospace company’s stock after purchasing an additional 467 shares during the period. Federated Hermes Inc.’s holdings in Northrop Grumman were worth $1,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Optimum Investment Advisors lifted its holdings in Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 41 shares during the last quarter. Bank & Trust Co acquired a new position in shares of Northrop Grumman in the 2nd quarter valued at $28,000. Meeder Asset Management Inc. grew its holdings in shares of 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 purchasing an additional 54 shares during the period. Rise Advisors LLC acquired a new stake in shares of Northrop Grumman during the 1st quarter worth about $38,000. Finally, Riverview Trust Co purchased a new stake in Northrop Grumman in the 1st quarter valued at about $47,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group lowered their price target 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. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and lifted their target price for the company from $474.00 to $575.00 in a research report on Monday, July 29th. BTIG Research assumed coverage on shares of Northrop Grumman in a research report on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, UBS Group increased their target price on shares of Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Northrop Grumman has an average rating of “Hold” and an average target price of $523.20.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, 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 value of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction dated 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 $3,225,917.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction that occurred 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 owns 4,634 shares of the company’s stock, valued at $2,317,000. The disclosure for this sale can be found here. Insiders sold 2,846 shares of company stock worth $1,393,028 over the last 90 days. 0.22% of the stock is currently owned by insiders.

Northrop Grumman Stock Up 0.5 %

Shares of NYSE NOC opened at $525.13 on Friday. The stock has a market cap of $77.71 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 2.36 and a beta of 0.34. Northrop Grumman Co. has a 52-week low of $414.56 and a 52-week high of $528.76. The business has a 50-day moving average price of $496.06 and a 200 day moving average price of $469.78. 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 (NYSE:NOC) last announced its earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The business had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.34 earnings per share. Equities research analysts forecast that Northrop Grumman Co. will post 25.14 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 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.