Insight Wealth Strategies LLC Grows Holdings in Northrop Grumman Co. (NYSE:NOC)

Insight Wealth Strategies LLC grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 96.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,557 shares of the aerospace company’s stock after buying an additional 1,254 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Northrop Grumman were worth $828,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Childress Capital Advisors LLC acquired a new stake in shares of Northrop Grumman during the 4th quarter valued at approximately $25,000. Graves Light Private Wealth Management Inc. acquired a new stake in shares of Northrop Grumman during the 4th quarter valued at approximately $28,000. Certified Advisory Corp acquired a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $33,000. Emerson Wealth Management LLC acquired a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $36,000. Finally, Allred Capital Management LLC acquired a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $39,000. Institutional investors own 83.30% of the company’s stock.

NYSE:NOC opened at $372.51 on Friday. Northrop Grumman Co. has a 1 year low of $282.88 and a 1 year high of $379.03. The company has a market capitalization of $59.96 billion, a PE ratio of 13.65 and a beta of 0.83. The stock has a fifty day simple moving average of $357.41. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.36 and a current ratio of 1.46.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, April 29th. The aerospace company reported $6.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.48 by $1.09. Northrop Grumman had a return on equity of 40.40% and a net margin of 12.10%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $8.49 billion. During the same quarter in the prior year, the business posted $5.48 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts expect that Northrop Grumman Co. will post 24.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 16th. Investors of record on Tuesday, June 1st will be paid a dividend of $1.57 per share. The ex-dividend date of this dividend is Friday, May 28th. This represents a $6.28 annualized dividend and a yield of 1.69%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.45. Northrop Grumman’s dividend payout ratio (DPR) is currently 26.55%.

In related news, CEO Kathy J. Warden sold 4,916 shares of the stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $352.04, for a total value of $1,730,628.64. Following the completion of the transaction, the chief executive officer now owns 114,040 shares in the company, valued at approximately $40,146,641.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark A. Caylor sold 2,961 shares of the stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $352.04, for a total value of $1,042,390.44. Following the completion of the transaction, the vice president now owns 10,019 shares of the company’s stock, valued at approximately $3,527,088.76. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Several equities research analysts recently issued reports on NOC shares. Zacks Investment Research raised Northrop Grumman from a “sell” rating to a “hold” rating and set a $375.00 price target on the stock in a research report on Monday, May 3rd. Wells Fargo & Company initiated coverage on Northrop Grumman in a research report on Tuesday, May 18th. They issued an “underweight” rating and a $330.00 target price on the stock. Morgan Stanley increased their target price on Northrop Grumman from $447.00 to $478.00 and gave the stock an “overweight” rating in a research report on Friday, April 30th. Stifel Nicolaus raised Northrop Grumman from a “hold” rating to a “buy” rating and increased their target price for the stock from $350.00 to $475.00 in a research report on Friday, June 4th. Finally, Susquehanna increased their target price on Northrop Grumman from $350.00 to $409.00 and gave the stock a “positive” rating in a research report on Friday, April 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $393.17.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems for strategic and tactical intelligence, surveillance, and reconnaissance (ISR) missions; and long-range strike aircraft systems, tactical fighter aircrafts, and airborne battle management systems.

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

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