Crewe Advisors LLC purchased a new stake in Northrop Grumman Co. (NYSE:NOC – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 457 shares of the aerospace company’s stock, valued at approximately $219,000.
Other large investors have also made changes to their positions in the company. Gulf International Bank UK Ltd grew its position in shares of Northrop Grumman by 1,402.9% in the first quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock valued at $6,186,000 after purchasing an additional 12,065 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in Northrop Grumman in the first quarter worth approximately $870,000. Norden Group LLC purchased a new position in Northrop Grumman in the first quarter worth approximately $778,000. Fisher Asset Management LLC grew its position in Northrop Grumman by 7,574.5% in the fourth quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock worth $57,879,000 after acquiring an additional 122,026 shares during the period. Finally, Red Mountain Financial LLC purchased a new position in Northrop Grumman in the fourth quarter worth approximately $264,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.
Northrop Grumman Stock Up 6.4 %
Northrop Grumman stock traded up $28.41 during midday trading on Thursday, reaching $470.53. The company’s stock had a trading volume of 2,050,294 shares, compared to its average volume of 974,075. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04. The company has a market cap of $69.63 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.06 and a beta of 0.33. The business has a 50-day simple moving average of $441.27 and a 200-day simple moving average of $455.43.
Northrop Grumman Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were paid a $2.06 dividend. The ex-dividend date was Friday, May 24th. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. This represents a $8.24 dividend on an annualized basis and a yield of 1.75%. Northrop Grumman’s dividend payout ratio (DPR) is currently 57.62%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on NOC shares. Sanford C. Bernstein lowered Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price objective for the company. in a research report on Friday, June 21st. BTIG Research started coverage on Northrop Grumman in a research report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 price objective for the company. Robert W. Baird increased their price objective on Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target for the company in a research report on Monday, April 22nd. Finally, Jefferies Financial Group lowered their price target on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Northrop Grumman has an average rating of “Hold” and an average price target of $510.36.
Read Our Latest Research Report on Northrop Grumman
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.
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