TRUE Private Wealth Advisors Acquires 55 Shares of Northrop Grumman Co. (NYSE:NOC)

TRUE Private Wealth Advisors grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 25.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 273 shares of the aerospace company’s stock after purchasing an additional 55 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Northrop Grumman were worth $84,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bay Harbor Wealth Management LLC bought a new position in shares of Northrop Grumman in the 1st quarter valued at about $25,000. Procyon Private Wealth Partners LLC bought a new position in shares of Northrop Grumman in the 4th quarter valued at about $26,000. Versant Capital Management Inc boosted its stake in shares of Northrop Grumman by 54.4% in the 1st quarter. Versant Capital Management Inc now owns 88 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 31 shares during the last quarter. Ballast Advisors LLC bought a new position in Northrop Grumman during the 1st quarter worth approximately $30,000. Finally, Wealth Quarterback LLC bought a new position in Northrop Grumman during the 4th quarter worth approximately $48,000. 83.94% of the stock is currently owned by institutional investors.

Shares of Northrop Grumman stock opened at $301.10 on Thursday. Northrop Grumman Co. has a 52-week low of $263.31 and a 52-week high of $385.01. The firm has a 50-day moving average of $321.68 and a 200-day moving average of $338.21. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.21 and a current ratio of 1.29. The stock has a market cap of $50.76 billion, a PE ratio of 22.69 and a beta of 0.79.

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

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

NOC has been the topic of a number of research reports. Seaport Global Securities initiated 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. 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 reaffirmed a “buy” rating and issued a $375.00 price target on shares of Northrop Grumman in a research note on Thursday, June 25th. Royal Bank of Canada initiated coverage on shares of Northrop Grumman in a research note on Wednesday, May 20th. They issued a “sector perform” rating and a $366.00 price target on the stock. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price objective on shares of Northrop Grumman from $380.00 to $412.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $380.46.

Northrop Grumman Profile

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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