Lincoln National Corp boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC – Get Rating) by 3.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 9,561 shares of the aerospace company’s stock after buying an additional 360 shares during the period. Lincoln National Corp’s holdings in Northrop Grumman were worth $4,276,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Duncker Streett & Co. Inc. raised its holdings in Northrop Grumman by 88.6% during the 4th quarter. Duncker Streett & Co. Inc. now owns 66 shares of the aerospace company’s stock valued at $25,000 after buying an additional 31 shares during the period. Lansing Street Advisors purchased a new stake in Northrop Grumman during the 1st quarter valued at $25,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in Northrop Grumman in the fourth quarter worth $26,000. Rather & Kittrell Inc. purchased a new stake in Northrop Grumman in the fourth quarter worth $26,000. Finally, Delos Wealth Advisors LLC purchased a new stake in Northrop Grumman in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 84.52% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. Seaport Res Ptn reiterated a “buy” rating on shares of Northrop Grumman in a research note on Tuesday, April 19th. Cowen set a $510.00 target price on Northrop Grumman in a research note on Tuesday, July 19th. Morgan Stanley raised their price target on Northrop Grumman from $521.00 to $530.00 and gave the company an “overweight” rating in a research note on Tuesday, July 12th. Robert W. Baird upgraded Northrop Grumman from a “neutral” rating to an “outperform” rating and raised their price target for the company from $488.00 to $529.00 in a research note on Friday, July 29th. Finally, UBS Group raised their price target on Northrop Grumman from $410.00 to $450.00 in a research note on Friday, April 29th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $468.18.
Northrop Grumman Price Performance
Northrop Grumman Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were given a dividend of $1.73 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $6.92 dividend on an annualized basis and a yield of 1.45%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.57. Northrop Grumman’s dividend payout ratio (DPR) is presently 19.26%.
About Northrop Grumman
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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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