Richardson Financial Services Inc. Takes $440,000 Position in Northrop Grumman Co. (NYSE:NOC)

Richardson Financial Services Inc. purchased a new stake in Northrop Grumman Co. (NYSE:NOCFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 940 shares of the aerospace company’s stock, valued at approximately $440,000.

A number of other large investors also recently made changes to their positions in NOC. London Co. of Virginia acquired a new stake in shares of Northrop Grumman in the 3rd quarter valued at about $165,786,000. Invesco Ltd. raised its position in shares of Northrop Grumman by 74.7% in the third quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock valued at $517,028,000 after buying an additional 502,060 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Northrop Grumman by 19.7% in the fourth quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock valued at $7,731,000 after buying an additional 2,723 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its position in shares of Northrop Grumman by 6.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 116,442 shares of the aerospace company’s stock valued at $54,511,000 after buying an additional 6,898 shares in the last quarter. Finally, Raymond James & Associates raised its position in Northrop Grumman by 34.2% during the fourth quarter. Raymond James & Associates now owns 266,273 shares of the aerospace company’s stock valued at $124,653,000 after purchasing an additional 67,875 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NOC traded up $0.67 during trading hours on Friday, hitting $424.09. The company’s stock had a trading volume of 1,085,612 shares, compared to its average volume of 979,655. The business’s 50-day moving average price is $460.89 and its 200-day moving average price is $462.52. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $496.89. The stock has a market cap of $62.76 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 1.97 and a beta of 0.35. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 1.04.

Northrop Grumman (NYSE:NOCGet Free Report) last issued its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The firm had revenue of $10.13 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same period in the previous year, the firm earned $5.50 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts expect that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $8.24 annualized dividend and a dividend yield of 1.94%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s dividend payout ratio is 57.62%.

Analysts Set New Price Targets

Several brokerages have commented on NOC. Susquehanna boosted their price objective on shares of Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Royal Bank of Canada upped their price target on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Robert W. Baird upped their price target on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $514.33.

View Our Latest Analysis on Northrop Grumman

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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