512 Shares in Northrop Grumman Co. (NYSE:NOC) Bought by Drive Wealth Management LLC

Drive Wealth Management LLC acquired a new position in shares of Northrop Grumman Co. (NYSE:NOCFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 512 shares of the aerospace company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. increased its stake in shares of Northrop Grumman by 10.1% in the third quarter. JPMorgan Chase & Co. now owns 4,488,412 shares of the aerospace company’s stock valued at $1,975,754,000 after buying an additional 410,736 shares during the period. Morgan Stanley lifted its holdings in shares of Northrop Grumman by 3.5% in the third quarter. Morgan Stanley now owns 4,194,298 shares of the aerospace company’s stock valued at $1,846,289,000 after purchasing an additional 142,036 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Northrop Grumman by 29.2% during the third quarter. Bank of New York Mellon Corp now owns 1,605,679 shares of the aerospace company’s stock worth $706,804,000 after acquiring an additional 362,515 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Northrop Grumman by 30.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,567,612 shares of the aerospace company’s stock worth $723,799,000 after acquiring an additional 362,449 shares during the period. Finally, Northern Trust Corp lifted its holdings in Northrop Grumman by 6.8% during the third quarter. Northern Trust Corp now owns 1,244,324 shares of the aerospace company’s stock worth $547,739,000 after acquiring an additional 79,263 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Kathryn G. Simpson sold 1,273 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $573,321.01. Following the completion of the sale, the vice president now owns 2,735 shares in the company, valued at approximately $1,231,761.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Kathryn G. Simpson sold 1,273 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the completion of the transaction, the vice president now owns 2,735 shares of the company’s stock, valued at approximately $1,231,761.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kathryn G. Simpson sold 711 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the transaction, the vice president now directly owns 2,024 shares of the company’s stock, valued at approximately $917,317.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,149 shares of company stock valued at $1,421,147. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Wolfe Research cut Northrop Grumman from a “peer perform” rating to an “underperform” rating and set a $450.00 target price for the company. in a research report on Thursday, December 14th. Robert W. Baird dropped their price target on Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 26th. TheStreet lowered Northrop Grumman from a “b+” rating to a “c+” rating in a research note on Thursday, January 25th. Finally, Susquehanna lowered their target price on Northrop Grumman from $560.00 to $540.00 and set a “positive” rating for the company in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman currently has a consensus rating of “Hold” and an average target price of $494.33.

Check Out Our Latest Analysis on Northrop Grumman

Northrop Grumman Stock Performance

Shares of NYSE:NOC opened at $466.36 on Wednesday. The company has a market capitalization of $69.97 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 1.90 and a beta of 0.35. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $496.89. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average of $457.49 and a 200 day moving average of $462.60.

Northrop Grumman (NYSE:NOCGet Free Report) last released its earnings results on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.47. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.43 billion. During the same period in the prior year, the firm earned $7.50 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that Northrop Grumman Co. will post 24.67 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were paid a dividend of $1.87 per share. This represents a $7.48 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s payout ratio is currently 55.49%.

Northrop Grumman Company Profile

(Free Report)

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.

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

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