Belpointe Asset Management LLC Raises Position in Northrop Grumman Co. (NYSE:NOC)

Belpointe Asset Management LLC lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 16.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,958 shares of the aerospace company’s stock after buying an additional 820 shares during the quarter. Belpointe Asset Management LLC’s holdings in Northrop Grumman were worth $2,597,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors raised its position in shares of Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 41 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth approximately $28,000. Frazier Financial Advisors LLC bought a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $29,000. Rise Advisors LLC acquired a new stake in Northrop Grumman in the first quarter worth $38,000. Finally, Riverview Trust Co bought a new stake in Northrop Grumman in the first quarter valued at $47,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the topic of a number of analyst reports. Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a report on Tuesday, August 27th. Sanford C. Bernstein downgraded Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a research note on Friday, June 21st. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and raised their price target for the company from $474.00 to $575.00 in a report on Monday, July 29th. UBS Group raised their target price on shares of Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Barclays upped their price target on shares of Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Northrop Grumman currently has a consensus rating of “Hold” and an average target price of $523.20.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the transaction, the vice president now owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,813 shares of company stock worth $1,375,877. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Up 0.4 %

Shares of NYSE NOC traded up $2.34 during trading hours on Wednesday, hitting $525.03. The stock had a trading volume of 155,419 shares, compared to its average volume of 928,947. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market capitalization of $77.70 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 0.32. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $528.67. The firm’s 50-day moving average price is $473.24 and its two-hundred day moving average price is $464.11.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating the consensus estimate of $5.93 by $0.43. The company had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $5.34 earnings per share. Analysts anticipate that Northrop Grumman Co. will post 25.15 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd will be paid a $2.06 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.57%. Northrop Grumman’s payout ratio is 57.62%.

Northrop Grumman Company Profile

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.