Chesley Taft & Associates LLC Grows Position in Northrop Grumman Co. (NYSE:NOC)

Chesley Taft & Associates LLC increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,118 shares of the aerospace company’s stock after buying an additional 105 shares during the period. Chesley Taft & Associates LLC’s holdings in Northrop Grumman were worth $1,881,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NOC. Bay Harbor Wealth Management LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth approximately $25,000. Procyon Private Wealth Partners LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $26,000. Versant Capital Management Inc increased its stake in shares of Northrop Grumman by 54.4% during the first quarter. Versant Capital Management Inc now owns 88 shares of the aerospace company’s stock worth $26,000 after buying an additional 31 shares during the period. Ballast Advisors LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth approximately $30,000. Finally, Wealth Quarterback LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 83.94% of the company’s stock.

NOC has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of Northrop Grumman from $380.00 to $412.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Sanford C. Bernstein upgraded shares of Northrop Grumman from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $438.00 to $386.00 in a research note on Monday, March 30th. ValuEngine lowered shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Wednesday, June 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $375.00 price target on shares of Northrop Grumman in a research note on Thursday, June 25th. Finally, Seaport Global Securities started coverage on shares of Northrop Grumman in a research note on Tuesday, May 19th. They issued a “buy” rating and a $398.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $380.46.

NYSE:NOC opened at $301.10 on Thursday. The company has a market capitalization of $50.76 billion, a PE ratio of 22.69 and a beta of 0.79. The stock has a fifty day simple moving average of $321.68 and a 200-day simple moving average of $338.21. Northrop Grumman Co. has a 52-week low of $263.31 and a 52-week high of $385.01. The company has a quick ratio of 1.21, a current ratio of 1.29 and a debt-to-equity ratio of 1.72.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $5.15 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.36). The company had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.54 billion. Northrop Grumman had a return on equity of 39.22% and a net margin of 6.57%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.06 EPS. As a group, equities analysts anticipate that Northrop Grumman Co. will post 22.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st were issued a $1.45 dividend. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.32. The ex-dividend date was Friday, May 29th. This represents a $5.80 annualized dividend and a yield of 1.93%. Northrop Grumman’s payout ratio is 27.35%.

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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