Janney Capital Management LLC Invests $356,000 in Northrop Grumman Corporation (NYSE:NOC)

Janney Capital Management LLC acquired a new position in Northrop Grumman Corporation (NYSE:NOC) in the first quarter, HoldingsChannel reports. The firm acquired 695 shares of the aerospace company’s stock, valued at approximately $356,000.

Other hedge funds have also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in shares of Northrop Grumman in the fourth quarter worth $31,000. Wood Tarver Financial Group LLC purchased a new position in shares of Northrop Grumman in the fourth quarter worth $32,000. Bellwether Advisors LLC purchased a new position in shares of Northrop Grumman in the fourth quarter worth $33,000. Rakuten Securities Inc. increased its stake in shares of 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 buying an additional 70 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Northrop Grumman in the fourth quarter worth $47,000. 83.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOC has been the topic of several analyst reports. Wells Fargo & Company set a $525.00 target price on shares of Northrop Grumman and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Morgan Stanley lifted their target price on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Truist Financial decreased their target price on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada cut their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Finally, Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $548.33.

Insider Activity

In other news, VP Roshan S. Roeder sold 991 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total transaction of $485,590.00. Following the sale, the vice president now owns 319 shares in the company, valued at approximately $156,310. The trade was a 75.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas H. Jones sold 729 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $368,706.33. Following the sale, the vice president now owns 7,552 shares in the company, valued at approximately $3,819,575.04. This trade represents a 8.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,569 shares of company stock worth $8,322,279. Corporate insiders own 0.23% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $494.16 on Friday. Northrop Grumman Corporation has a 12 month low of $422.69 and a 12 month high of $555.57. The stock has a market cap of $71.12 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 5.40 and a beta of 0.14. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. The company’s fifty day moving average price is $490.07 and its 200-day moving average price is $482.87.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. On average, equities analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were issued a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Monday, June 2nd. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.06. Northrop Grumman’s payout ratio is 36.46%.

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.