Lincoln National Corp Boosts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Lincoln National Corp increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,067 shares of the aerospace company’s stock after purchasing an additional 166 shares during the period. Lincoln National Corp’s holdings in Northrop Grumman were worth $5,181,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Northrop Grumman by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 4,488,412 shares of the aerospace company’s stock worth $1,975,754,000 after acquiring an additional 410,736 shares during the last quarter. Morgan Stanley raised its stake in Northrop Grumman by 3.5% during the third quarter. Morgan Stanley now owns 4,194,298 shares of the aerospace company’s stock worth $1,846,289,000 after purchasing an additional 142,036 shares during the period. Northern Trust Corp raised its stake in Northrop Grumman by 6.8% during the third quarter. Northern Trust Corp now owns 1,244,324 shares of the aerospace company’s stock worth $547,739,000 after purchasing an additional 79,263 shares during the period. Invesco Ltd. raised its stake in Northrop Grumman by 74.7% during the third quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock worth $517,028,000 after purchasing an additional 502,060 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Northrop Grumman by 2.5% during the 3rd quarter. Clearbridge Investments LLC now owns 867,137 shares of the aerospace company’s stock worth $381,705,000 after buying an additional 21,501 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

Shares of NYSE NOC traded down $0.23 during midday trading on Monday, hitting $468.86. The company’s stock had a trading volume of 856,805 shares, compared to its average volume of 1,012,167. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $496.89. The firm’s fifty day moving average price is $465.15 and its 200-day moving average price is $465.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. The firm has a market cap of $69.39 billion, a P/E ratio of 32.79, a P/E/G ratio of 1.93 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, beating the consensus estimate of $5.83 by $0.49. The firm had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $9.77 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. Northrop Grumman’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $5.50 EPS. On average, sell-side analysts forecast that Northrop Grumman Co. will post 24.7 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were given a dividend of $1.87 per share. This represents a $7.48 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s payout ratio is presently 52.31%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the sale, the chief accounting officer now directly owns 4,137 shares of the company’s stock, valued at $1,863,180.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the sale, the chief accounting officer now directly owns 3,127 shares in the company, valued at $1,421,784.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the completion of the sale, the chief accounting officer now owns 4,137 shares of the company’s stock, valued at $1,863,180.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,149 shares of company stock valued at $1,421,147. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NOC. Susquehanna lifted their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research note on Friday, April 26th. Royal Bank of Canada raised their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Robert W. Baird raised their price objective on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price objective for the company in a report on Monday, April 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Northrop Grumman from $483.00 to $518.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $509.38.

Northrop Grumman Profile

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.