Putney Financial Group LLC Increases Position in Northrop Grumman Corporation (NYSE:NOC)

Putney Financial Group LLC lifted its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 34.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 240 shares of the aerospace company’s stock after acquiring an additional 62 shares during the quarter. Putney Financial Group LLC’s holdings in Northrop Grumman were worth $123,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Carr Financial Group Corp purchased a new stake in shares of Northrop Grumman during the first quarter worth about $212,000. Avior Wealth Management LLC increased its holdings in Northrop Grumman by 12.6% in the first quarter. Avior Wealth Management LLC now owns 860 shares of the aerospace company’s stock valued at $440,000 after buying an additional 96 shares during the last quarter. OLD Second National Bank of Aurora increased its holdings in Northrop Grumman by 126.5% in the first quarter. OLD Second National Bank of Aurora now owns 7,708 shares of the aerospace company’s stock valued at $3,947,000 after buying an additional 4,305 shares during the last quarter. River Street Advisors LLC increased its holdings in Northrop Grumman by 90.5% in the first quarter. River Street Advisors LLC now owns 3,164 shares of the aerospace company’s stock valued at $1,620,000 after buying an additional 1,503 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Northrop Grumman by 41.7% in the first quarter. Retirement Systems of Alabama now owns 131,585 shares of the aerospace company’s stock valued at $67,373,000 after buying an additional 38,749 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northrop Grumman

In related news, VP Roshan S. Roeder sold 991 shares of the firm’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 sale, the vice president now directly owns 319 shares in the company, valued at $156,310. This trade represents a 75.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas H. Jones sold 729 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the completion of the sale, the vice president now owns 7,552 shares in the company, valued at approximately $3,819,575.04. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,569 shares of company stock worth $8,322,279 in the last three months. 0.23% of the stock is owned by company insiders.

Northrop Grumman Stock Up 0.7%

NYSE:NOC opened at $497.92 on Friday. The firm has a market capitalization of $71.66 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 5.40 and a beta of 0.14. The stock has a 50 day moving average of $489.35 and a 200-day moving average of $482.96. Northrop Grumman Corporation has a 52 week low of $422.69 and a 52 week high of $555.57. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $10.07 billion. Analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a $2.31 dividend. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Monday, June 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 36.46%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NOC shares. Argus raised Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Susquehanna lowered their price objective on Northrop Grumman from $557.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Truist Financial lowered their price objective on Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Wall Street Zen lowered Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, April 24th. Finally, UBS Group lowered their price objective on Northrop Grumman from $583.00 to $571.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $548.33.

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.