Heritage Wealth Management LLC increased its stake in Northrop Grumman Co. (NYSE:NOC) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,343 shares of the aerospace company’s stock after purchasing an additional 130 shares during the period. Heritage Wealth Management LLC’s holdings in Northrop Grumman were worth $851,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Spectrum Asset Management Inc. NB CA bought a new position in Northrop Grumman during the second quarter valued at approximately $209,000. Mackenzie Financial Corp grew its position in Northrop Grumman by 4.2% during the second quarter. Mackenzie Financial Corp now owns 70,477 shares of the aerospace company’s stock valued at $25,613,000 after acquiring an additional 2,862 shares during the last quarter. Vaughan David Investments LLC IL grew its position in Northrop Grumman by 6.0% during the second quarter. Vaughan David Investments LLC IL now owns 1,418 shares of the aerospace company’s stock valued at $515,000 after acquiring an additional 80 shares during the last quarter. NorthCoast Asset Management LLC grew its position in Northrop Grumman by 0.3% during the second quarter. NorthCoast Asset Management LLC now owns 21,729 shares of the aerospace company’s stock valued at $7,897,000 after acquiring an additional 57 shares during the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management grew its position in Northrop Grumman by 11.8% during the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 5,590 shares of the aerospace company’s stock valued at $2,031,000 after acquiring an additional 588 shares during the last quarter. Institutional investors own 81.91% of the company’s stock.
Northrop Grumman stock traded down $2.13 on Tuesday, hitting $346.68. 5,726 shares of the stock traded hands, compared to its average volume of 917,746. Northrop Grumman Co. has a 1 year low of $282.88 and a 1 year high of $379.03. The company has a current ratio of 1.49, a quick ratio of 1.39 and a debt-to-equity ratio of 1.14. The business’s fifty day simple moving average is $361.41 and its 200 day simple moving average is $354.29. The firm has a market cap of $55.51 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.59 and a beta of 0.84.
The business also recently declared a dividend, which was paid on Thursday, September 2nd. Stockholders of record on Monday, August 23rd were issued a dividend of $0.14 per share. The ex-dividend date was Friday, August 20th. This represents a dividend yield of 0.15%. Northrop Grumman’s payout ratio is presently 26.55%.
In other news, VP Thomas H. Jones sold 470 shares of Northrop Grumman stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $361.35, for a total transaction of $169,834.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Mary D. Petryszyn sold 892 shares of Northrop Grumman stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $358.65, for a total value of $319,915.80. Following the transaction, the vice president now directly owns 12,991 shares in the company, valued at $4,659,222.15. The disclosure for this sale can be found here. Insiders sold a total of 1,597 shares of company stock valued at $576,700 over the last quarter. 0.25% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on NOC shares. Stifel Nicolaus raised Northrop Grumman from a “hold” rating to a “buy” rating and increased their price objective for the company from $350.00 to $475.00 in a research note on Friday, June 4th. Wells Fargo & Company increased their price objective on Northrop Grumman from $330.00 to $335.00 and gave the company an “underweight” rating in a research note on Monday, August 2nd. Seaport Global Securities raised their price target on Northrop Grumman from $398.00 to $419.00 and gave the stock a “buy” rating in a research note on Monday, July 19th. Finally, Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $391.00 price objective for the company in a research report on Tuesday, July 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $399.10.
Northrop Grumman Profile
Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.
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