Smithbridge Asset Management Inc. DE Makes New Investment in Northrop Grumman Co. (NYSE:NOC)

Smithbridge Asset Management Inc. DE purchased a new position in Northrop Grumman Co. (NYSE:NOC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,741 shares of the aerospace company’s stock, valued at approximately $891,000.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter worth about $31,000. Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman in the fourth quarter worth about $32,000. Bellwether Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter worth about $33,000. Stonebridge Financial Group LLC acquired a new stake in Northrop Grumman in the fourth quarter worth about $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. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Up 1.8%

Northrop Grumman stock opened at $497.10 on Friday. The stock 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. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The business has a 50 day simple moving average of $490.46 and a 200-day simple moving average of $482.42. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). The business had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $10.07 billion. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

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

Insider Activity

In other news, VP Roshan S. Roeder sold 991 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 319 shares in the company, valued at $156,310. The trade was a 75.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,090 shares of company stock worth $533,853 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NOC has been the subject of a number of research reports. Wall Street Zen downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, April 24th. Truist Financial decreased their target price on Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley lifted their target price on Northrop Grumman from $580.00 to $625.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. UBS Group decreased their target price on Northrop Grumman from $583.00 to $571.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada decreased their target price on Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $545.31.

About Northrop Grumman

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.