Mirae Asset Global Investments Co. Ltd. Purchases Shares of 12,704 Northrop Grumman Co. (NYSE:NOC)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Northrop Grumman Co. (NYSE:NOCGet Rating) in the 1st quarter, Holdings Channel reports. The fund purchased 12,704 shares of the aerospace company’s stock, valued at approximately $5,682,000.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Northrop Grumman by 0.4% during the 1st quarter. BlackRock Inc. now owns 8,661,928 shares of the aerospace company’s stock valued at $3,873,788,000 after purchasing an additional 30,408 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of Northrop Grumman by 21.9% during the first quarter. Sanders Capital LLC now owns 3,325,460 shares of the aerospace company’s stock worth $1,506,692,000 after buying an additional 596,760 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Northrop Grumman by 23.6% during the fourth quarter. Nuveen Asset Management LLC now owns 1,191,705 shares of the aerospace company’s stock worth $461,274,000 after buying an additional 227,433 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Northrop Grumman by 3.6% during the first quarter. Invesco Ltd. now owns 1,186,536 shares of the aerospace company’s stock worth $530,644,000 after buying an additional 41,580 shares in the last quarter. Finally, Allen Investment Management LLC lifted its holdings in shares of Northrop Grumman by 7.2% during the first quarter. Allen Investment Management LLC now owns 783,728 shares of the aerospace company’s stock worth $350,499,000 after buying an additional 52,971 shares in the last quarter. Institutional investors and hedge funds own 83.91% of the company’s stock.

Northrop Grumman Stock Performance

Northrop Grumman stock opened at $496.46 on Friday. Northrop Grumman Co. has a 12-month low of $345.90 and a 12-month high of $515.49. The company has a quick ratio of 1.20, a current ratio of 1.30 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $477.14 and its two-hundred day moving average price is $464.47. The stock has a market cap of $76.81 billion, a PE ratio of 13.82, a P/E/G ratio of 9.11 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 given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, August 26th. Northrop Grumman’s dividend payout ratio is presently 19.26%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NOC shares. Susquehanna lifted their target price on Northrop Grumman from $530.00 to $560.00 and gave the stock a “positive” rating in a report on Wednesday, August 31st. Morgan Stanley lifted their target price on Northrop Grumman from $521.00 to $530.00 and gave the stock an “overweight” rating in a report on Tuesday, July 12th. Cowen set a $510.00 price target on Northrop Grumman in a research note on Tuesday, July 19th. Robert W. Baird raised Northrop Grumman from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $488.00 to $529.00 in a research note on Friday, July 29th. Finally, Susquehanna Bancshares boosted their price target on Northrop Grumman from $530.00 to $560.00 and gave the company a “positive” rating in a research note on Wednesday, August 31st. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman has an average rating of “Hold” and a consensus price target of $487.75.

Insider Buying and Selling at Northrop Grumman

In other news, VP Thomas L. Wilson, Jr. sold 582 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $482.00, for a total transaction of $280,524.00. Following the sale, the vice president now directly owns 2,094 shares in the company, valued at $1,009,308. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Sheila C. Cheston sold 4,025 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was 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 $12,015,646.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas L. Wilson, Jr. sold 582 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $482.00, for a total value of $280,524.00. Following the sale, the vice president now owns 2,094 shares in the company, valued at $1,009,308. The disclosure for this sale can be found here. Insiders have sold a total of 14,607 shares of company stock worth $7,007,034 over the last 90 days. Insiders own 0.25% of the company’s stock.

Northrop Grumman Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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