State of Alaska Department of Revenue Raises Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

State of Alaska Department of Revenue increased its position in Northrop Grumman Co. (NYSE:NOCGet Rating) by 1.6% in the second quarter, HoldingsChannel.com reports. The fund owned 21,256 shares of the aerospace company’s stock after buying an additional 343 shares during the period. State of Alaska Department of Revenue’s holdings in Northrop Grumman were worth $10,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOC. Lansing Street Advisors acquired a new stake in Northrop Grumman during the 1st quarter worth about $25,000. Kings Point Capital Management grew its position in Northrop Grumman by 83.3% during the 1st quarter. Kings Point Capital Management now owns 55 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 25 shares during the period. Rather & Kittrell Inc. acquired a new stake in Northrop Grumman during the 4th quarter worth about $26,000. Core Alternative Capital grew its position in Northrop Grumman by 666.7% during the 1st quarter. Core Alternative Capital now owns 69 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 60 shares during the period. Finally, Burleson & Company LLC acquired a new stake in shares of Northrop Grumman during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 83.91% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the topic of a number of analyst reports. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank of Canada initiated coverage on Northrop Grumman in a research report on Monday, August 29th. They set a “sector perform” rating and a $550.00 target price on the stock. Robert W. Baird upgraded Northrop Grumman from a “neutral” rating to an “outperform” rating and raised their target price for the company from $488.00 to $529.00 in a research report on Friday, July 29th. Susquehanna Bancshares raised their target price on Northrop Grumman from $530.00 to $560.00 and gave the company a “positive” rating in a research report on Wednesday, August 31st. Finally, Morgan Stanley raised their target price on Northrop Grumman from $521.00 to $530.00 and gave the company an “overweight” rating in a research report on Tuesday, July 12th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman has a consensus rating of “Hold” and a consensus target price of $487.75.

Northrop Grumman Trading Up 0.0 %

NOC opened at $485.20 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.30 and a quick ratio of 1.20. The company’s 50 day simple moving average is $475.08 and its two-hundred day simple moving average is $463.70. Northrop Grumman Co. has a 1-year low of $344.89 and a 1-year high of $497.20. The firm has a market capitalization of $75.07 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 8.95 and a beta of 0.61.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Monday, August 29th were paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, August 26th. Northrop Grumman’s dividend payout ratio (DPR) is 19.26%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Thomas L. Wilson, Jr. sold 582 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $482.00, for a total value of $280,524.00. Following the transaction, the vice president now directly owns 2,094 shares of the company’s stock, valued at approximately $1,009,308. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northrop Grumman news, VP Thomas L. Wilson, Jr. sold 582 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $482.00, for a total value of $280,524.00. Following the transaction, the vice president now directly owns 2,094 shares of the company’s stock, valued at approximately $1,009,308. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sheila C. Cheston sold 4,025 shares of Northrop Grumman stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $473.99, for a total transaction of $1,907,809.75. Following the sale, the vice president now directly owns 25,350 shares in the company, valued at approximately $12,015,646.50. The disclosure for this sale can be found here. Insiders have sold 14,607 shares of company stock valued at $7,007,034 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

About Northrop Grumman

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Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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