Northrop Grumman Corporation $NOC Shares Acquired by Traynor Capital Management Inc.

Traynor Capital Management Inc. increased its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,764 shares of the aerospace company’s stock after acquiring an additional 1,341 shares during the quarter. Traynor Capital Management Inc.’s holdings in Northrop Grumman were worth $12,456,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Northrop Grumman during the second quarter worth $6,001,616,000. Bank of America Corp DE acquired a new position in shares of Northrop Grumman in the 2nd quarter valued at $1,298,141,000. Bank of New York Mellon Corp bought a new stake in shares of Northrop Grumman in the 2nd quarter valued at $376,135,000. Corient Private Wealth LP bought a new stake in shares of Northrop Grumman in the 2nd quarter valued at $44,039,000. Finally, Deutsche Bank AG bought a new stake in shares of Northrop Grumman in the 2nd quarter valued at $194,058,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on NOC shares. Guggenheim lifted their target price on Northrop Grumman from $612.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. The Goldman Sachs Group raised their price target on Northrop Grumman from $533.00 to $538.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Deutsche Bank Aktiengesellschaft set a $615.00 price objective on shares of Northrop Grumman and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada upped their target price on shares of Northrop Grumman from $525.00 to $550.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 21st. Finally, TD Cowen lowered their target price on Northrop Grumman from $590.00 to $540.00 and set a “hold” rating for the company in a report on Friday, October 9th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $643.74.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $558.79 on Monday. Northrop Grumman Corporation has a 12 month low of $470.06 and a 12 month high of $774.00. The company’s fifty day simple moving average is $520.51 and its 200-day simple moving average is $591.78. The firm has a market cap of $79.38 billion, a PE ratio of 17.63, a P/E/G ratio of 3.00 and a beta of -0.13. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.77.

Northrop Grumman (NYSE:NOC) last released its earnings results on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share for the quarter, beating analysts’ consensus estimates of $7.18 by $0.71. Northrop Grumman had a net margin of 10.37% and a return on equity of 23.46%. The business had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $11.14 billion. During the same quarter last year, the firm earned $7.67 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts expect that Northrop Grumman Corporation will post 29.64 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Monday, August 31st were issued a $2.47 dividend. The ex-dividend date was Monday, August 31st. This represents a $9.88 annualized dividend and a dividend yield of 1.8%. Northrop Grumman’s dividend payout ratio (DPR) is presently 31.17%.

Northrop Grumman Company Profile

Northrop Grumman Corporation (NYSE:NOC) is a global aerospace and defense company that develops and produces systems for government and commercial customers, with the U.S. government representing its primary customer base. The company operates across aerospace, defense, space, cybersecurity and advanced technology markets.

Its products and services include military aircraft and autonomous systems, space systems and satellites, missile defense technologies, command-and-control systems, cyber solutions, sensors, communications networks and other mission-critical systems.