3Chopt Investment Partners LLC Takes Position in Northrop Grumman Co. (NYSE:NOC)

3Chopt Investment Partners LLC purchased a new stake in Northrop Grumman Co. (NYSE:NOC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,832 shares of the aerospace company’s stock, valued at approximately $799,000.

Other hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors boosted its stake in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares in the last quarter. Bank & Trust Co bought a new position in Northrop Grumman in the 2nd quarter valued at approximately $28,000. Meeder Asset Management Inc. raised its holdings in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares during the last quarter. Rise Advisors LLC bought a new position in Northrop Grumman in the 1st quarter valued at approximately $38,000. Finally, Riverview Trust Co bought a new position in Northrop Grumman in the 1st quarter valued at approximately $47,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

NYSE:NOC opened at $528.07 on Tuesday. The company has a fifty day moving average of $507.01 and a 200-day moving average of $472.78. The firm has a market capitalization 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 twelve month low of $414.56 and a twelve month high of $534.61.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Northrop Grumman’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 25.14 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.56%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 57.62%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NOC shares. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Morgan Stanley raised their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. TD Cowen raised their price objective on shares of Northrop Grumman from $440.00 to $515.00 and gave the company a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and raised their price objective for the company from $474.00 to $575.00 in a report on Monday, July 29th. Finally, Barclays raised their price target on shares of Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $523.20.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman 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 transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following 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 Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman 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 transaction, the vice president now directly owns 4,634 shares in the company, valued at $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 valued at $1,393,028. 0.22% of the stock is owned by company insiders.

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.