Simon Quick Advisors LLC Grows Holdings in Northrop Grumman Co. (NYSE:NOC)

Simon Quick Advisors LLC lifted its holdings in Northrop Grumman Co. (NYSE:NOC) by 55.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,623 shares of the aerospace company’s stock after acquiring an additional 582 shares during the period. Simon Quick Advisors LLC’s holdings in Northrop Grumman were worth $831,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter worth approximately $31,000. Wood Tarver Financial Group LLC bought a new position in Northrop Grumman during the 4th quarter worth about $32,000. Bellwether Advisors LLC bought a new position in shares of Northrop Grumman in the 4th quarter worth $33,000. Stonebridge Financial Group LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at approximately $42,000. Finally, Rakuten Securities Inc. boosted its holdings in Northrop Grumman by 291.7% in the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 70 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $497.10 on Friday. The firm has a market capitalization of $71.55 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 3.73 and a beta of 0.14. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The stock’s 50-day simple moving average is $490.46 and its 200-day simple moving average is $482.42.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. The firm had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $10.07 billion. As a group, equities research analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be given a dividend of $2.31 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $9.24 dividend on an annualized basis and a yield of 1.86%. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. Northrop Grumman’s dividend payout ratio is presently 36.46%.

Insiders Place Their Bets

In other news, VP Roshan S. Roeder sold 991 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the completion of the transaction, the vice president now owns 319 shares in the company, valued at $156,310. This trade represents a 75.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 1,090 shares of company stock worth $533,853. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NOC shares. Truist Financial cut their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group raised Northrop Grumman from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $424.00 to $521.00 in a research note on Friday, April 11th. Susquehanna dropped their price target on shares of Northrop Grumman from $557.00 to $540.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. UBS Group decreased their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $525.00 price objective on Northrop Grumman and gave the company an “overweight” rating in a research note on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus price target of $545.31.

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.