Checchi Capital Advisers LLC grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC – Get Rating) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,541 shares of the aerospace company’s stock after buying an additional 144 shares during the period. Checchi Capital Advisers LLC’s holdings in Northrop Grumman were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of NOC. Lansing Street Advisors purchased a new stake in Northrop Grumman in the 1st quarter valued at approximately $25,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter worth approximately $26,000. Duncker Streett & Co. Inc. lifted its stake in Northrop Grumman by 88.6% in the 4th quarter. Duncker Streett & Co. Inc. now owns 66 shares of the aerospace company’s stock valued at $25,000 after buying an additional 31 shares in the last quarter. Rather & Kittrell Inc. purchased a new stake in Northrop Grumman in the 4th quarter valued at approximately $26,000. Finally, Burleson & Company LLC purchased a new stake in Northrop Grumman in the 1st quarter valued at approximately $34,000. 84.52% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on NOC shares. Argus boosted their price target on Northrop Grumman from $420.00 to $495.00 in a report on Thursday, May 12th. StockNews.com cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. UBS Group upped their price objective on shares of Northrop Grumman from $410.00 to $450.00 in a research report on Friday, April 29th. Susquehanna Bancshares increased their price target on shares of Northrop Grumman from $520.00 to $530.00 and gave the stock a “positive” rating in a research report on Friday, July 29th. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of Northrop Grumman in a research report on Tuesday, April 19th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Northrop Grumman presently has a consensus rating of “Hold” and an average price target of $468.18.
Northrop Grumman Stock Down 0.1 %
Northrop Grumman Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were issued a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Friday, May 27th. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.57. Northrop Grumman’s dividend payout ratio (DPR) is 19.26%.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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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