Legacy Capital Partners Inc. Raises Position in Northrop Grumman Co. (NYSE:NOC)

Legacy Capital Partners Inc. grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 32.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,374 shares of the aerospace company’s stock after purchasing an additional 335 shares during the period. Legacy Capital Partners Inc.’s holdings in Northrop Grumman were worth $422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NOC. Bay Harbor Wealth Management LLC purchased a new stake in shares of Northrop Grumman during the 1st quarter valued at $25,000. Procyon Private Wealth Partners LLC purchased a new position in Northrop Grumman in the 4th quarter worth $26,000. Versant Capital Management Inc raised its stake in Northrop Grumman by 54.4% in the 1st quarter. Versant Capital Management Inc now owns 88 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 31 shares during the last quarter. Ballast Advisors LLC purchased a new position in Northrop Grumman in the 1st quarter worth $30,000. Finally, Wealth Quarterback LLC purchased a new position in Northrop Grumman in the 4th quarter worth $48,000. Hedge funds and other institutional investors own 83.94% of the company’s stock.

Several brokerages have weighed in on NOC. Royal Bank of Canada began coverage on Northrop Grumman in a research report on Wednesday, May 20th. They set a “sector perform” rating and a $366.00 price target on the stock. They noted that the move was a valuation call. Sanford C. Bernstein raised Northrop Grumman from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $438.00 to $386.00 in a research report on Monday, March 30th. UBS Group cut their price target on Northrop Grumman from $410.00 to $373.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Morgan Stanley raised their target price on Northrop Grumman from $380.00 to $412.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Finally, Zacks Investment Research upgraded Northrop Grumman from a “sell” rating to a “hold” rating and set a $320.00 target price on the stock in a research report on Thursday, June 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $380.46.

Northrop Grumman stock traded down $5.80 during midday trading on Tuesday, reaching $306.60. The company had a trading volume of 12,451 shares, compared to its average volume of 871,430. The company has a market capitalization of $52.08 billion, a P/E ratio of 23.15 and a beta of 0.79. Northrop Grumman Co. has a 12-month low of $263.31 and a 12-month high of $385.01. The firm’s fifty day simple moving average is $322.40 and its 200-day simple moving average is $338.55. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.29 and a quick ratio of 1.21.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $5.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.51 by ($0.36). The company had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.54 billion. Northrop Grumman had a net margin of 6.57% and a return on equity of 39.22%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $5.06 earnings per share. On average, analysts expect that Northrop Grumman Co. will post 22.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 1.89%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend was Friday, May 29th. Northrop Grumman’s dividend payout ratio (DPR) is 27.35%.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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