Northrop Grumman Co. (NYSE:NOC) Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC increased its holdings in Northrop Grumman Co. (NYSE:NOC) by 23.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,457 shares of the aerospace company’s stock after acquiring an additional 832 shares during the quarter. SteelPeak Wealth LLC’s holdings in Northrop Grumman were worth $2,354,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Diversify Advisory Services LLC bought a new position in shares of Northrop Grumman during the first quarter worth about $870,000. Norden Group LLC acquired a new position in shares of Northrop Grumman in the 1st quarter worth approximately $778,000. Aviso Wealth Management increased its holdings in shares of Northrop Grumman by 110.7% in the 2nd quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock valued at $827,000 after acquiring an additional 996 shares during the last quarter. Susquehanna International Securities Ltd. acquired a new stake in shares of Northrop Grumman during the 2nd quarter valued at approximately $1,133,000. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Northrop Grumman by 9.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 160,328 shares of the aerospace company’s stock valued at $74,027,000 after acquiring an additional 14,275 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NOC. Royal Bank of Canada boosted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Morgan Stanley boosted their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. UBS Group raised their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Citigroup increased their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Northrop Grumman has an average rating of “Hold” and an average price target of $550.56.

Northrop Grumman Price Performance

Shares of NOC stock traded up $3.63 during midday trading on Wednesday, reaching $507.68. 283,334 shares of the company were exchanged, compared to its average volume of 868,496. The company’s 50 day moving average price is $523.60 and its two-hundred day moving average price is $482.10. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The company has a market cap of $73.97 billion, a P/E ratio of 31.23, a PEG ratio of 2.31 and a beta of 0.34. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same period in the prior year, the firm posted $6.18 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Northrop Grumman Co. will post 25.87 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 51.05%.

Insider Activity

In related news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 1,490 shares of company stock worth $747,372. Corporate insiders own 0.22% of the company’s stock.

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.