Envestnet Asset Management Inc. Acquires 3,599 Shares of Northrop Grumman Corporation (NYSE:NOC)

Envestnet Asset Management Inc. raised its holdings in Northrop Grumman Corporation (NYSE:NOC) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 205,079 shares of the aerospace company’s stock after buying an additional 3,599 shares during the period. Envestnet Asset Management Inc. owned about 0.14% of Northrop Grumman worth $105,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Redhawk Wealth Advisors Inc. lifted its stake in shares of Northrop Grumman by 3.0% in the first quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company’s stock valued at $330,000 after buying an additional 19 shares in the last quarter. Salvus Wealth Management LLC lifted its stake in shares of Northrop Grumman by 1.5% in the first quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company’s stock valued at $691,000 after buying an additional 20 shares in the last quarter. IAG Wealth Partners LLC lifted its position in shares of Northrop Grumman by 8.4% during the first quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company’s stock valued at $139,000 after purchasing an additional 21 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Northrop Grumman by 2.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock valued at $472,000 after purchasing an additional 22 shares in the last quarter. Finally, Keel Point LLC lifted its position in shares of Northrop Grumman by 2.3% during the fourth quarter. Keel Point LLC now owns 1,069 shares of the aerospace company’s stock valued at $502,000 after purchasing an additional 24 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NOC has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Thursday, April 24th. Morgan Stanley raised their price target on shares of Northrop Grumman from $580.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. Royal Bank Of Canada dropped their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial dropped their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $542.00 price target (down from $580.00) on shares of Northrop Grumman in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $550.00.

Insider Buying and Selling at Northrop Grumman

In related news, VP Robert J. Fleming sold 3,500 shares of the business’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 transaction of $1,770,195.00. Following the completion of the transaction, the vice president owned 1,827 shares of the company’s stock, valued at approximately $924,041.79. The trade was a 65.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas H. Jones sold 729 shares of the business’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 transaction of $368,706.33. Following the transaction, the vice president directly owned 7,552 shares of the company’s stock, valued at approximately $3,819,575.04. This represents a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,569 shares of company stock worth $8,323,150 over the last three months. Company insiders own 0.23% of the company’s stock.

Northrop Grumman Price Performance

NOC opened at $507.71 on Thursday. The company has a market capitalization of $73.07 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 5.52 and a beta of 0.15. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $488.32 and a 200-day moving average price of $484.93. Northrop Grumman Corporation has a twelve month low of $422.69 and a twelve month high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 25.46% and a net margin of 9.19%. Equities analysts expect 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. Stockholders of record on Monday, June 2nd were paid a $2.31 dividend. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. The ex-dividend date was Monday, June 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.82%. Northrop Grumman’s dividend payout ratio (DPR) is presently 36.46%.

Northrop Grumman 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.