North Star Investment Management Corp. Acquires 1,570 Shares of Northrop Grumman Co. (NYSE:NOC)

North Star Investment Management Corp. lifted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 73.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,709 shares of the aerospace company’s stock after acquiring an additional 1,570 shares during the quarter. North Star Investment Management Corp.’s holdings in Northrop Grumman were worth $1,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Krane Funds Advisors LLC bought a new position in shares of Northrop Grumman during the second quarter valued at approximately $26,000. Massey Quick Simon & CO. LLC bought a new position in Northrop Grumman in the second quarter worth $27,000. Virtus ETF Advisers LLC bought a new position in Northrop Grumman in the second quarter worth $30,000. Meridian Wealth Management LLC bought a new position in Northrop Grumman in the first quarter worth $29,000. Finally, Kavar Capital Partners LLC bought a new position in Northrop Grumman in the second quarter worth $36,000. Institutional investors own 83.10% of the company’s stock.

In other news, CEO Kathy J. Warden sold 6,837 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $353.46, for a total value of $2,416,606.02. Following the sale, the chief executive officer now directly owns 99,002 shares of the company’s stock, valued at $34,993,246.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher T. Jones sold 5,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $353.19, for a total value of $1,765,950.00. Following the completion of the sale, the vice president now directly owns 67,422 shares in the company, valued at $23,812,776.18. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

A number of equities analysts have issued reports on NOC shares. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 price objective for the company in a report on Tuesday, September 10th. UBS Group increased their price objective on Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. ValuEngine downgraded Northrop Grumman from a “sell” rating to a “strong sell” rating in a report on Wednesday. Credit Suisse Group increased their price objective on Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Bank of America reiterated a “buy” rating and issued a $405.00 price objective (up previously from $355.00) on shares of Northrop Grumman in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $347.60.

Shares of NYSE NOC traded up $0.70 during trading on Friday, reaching $365.03. The company had a trading volume of 335,788 shares, compared to its average volume of 1,147,856. Northrop Grumman Co. has a 12-month low of $223.63 and a 12-month high of $383.89. The stock has a market cap of $62.23 billion, a PE ratio of 17.11, a P/E/G ratio of 1.51 and a beta of 0.80. The business’s 50-day moving average is $367.77 and its 200 day moving average is $322.54. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62.

Northrop Grumman (NYSE:NOC) last released its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, topping analysts’ consensus estimates of $4.64 by $0.42. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.41 billion. During the same period in the prior year, the firm posted $4.50 earnings per share. The company’s quarterly revenue was up 18.8% on a year-over-year basis. On average, analysts anticipate that Northrop Grumman Co. will post 19.63 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.45%. Northrop Grumman’s dividend payout ratio is currently 24.75%.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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

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