Aigen Investment Management LP Purchases Shares of 1,833 Northrop Grumman Co. (NYSE:NOC)

Aigen Investment Management LP purchased a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,833 shares of the aerospace company’s stock, valued at approximately $858,000.

A number of other hedge funds also recently bought and sold shares of the company. US Bancorp DE raised its position in shares of Northrop Grumman by 1.7% during the third quarter. US Bancorp DE now owns 115,707 shares of the aerospace company’s stock valued at $49,941,000 after buying an additional 1,949 shares during the last quarter. MGO One Seven LLC raised its position in shares of Northrop Grumman by 45.5% during the third quarter. MGO One Seven LLC now owns 3,538 shares of the aerospace company’s stock valued at $1,558,000 after buying an additional 1,107 shares during the last quarter. Fortis Capital Management LLC acquired a new position in shares of Northrop Grumman during the third quarter valued at about $748,000. Nomura Asset Management Co. Ltd. raised its position in shares of Northrop Grumman by 16.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 43,661 shares of the aerospace company’s stock valued at $19,219,000 after buying an additional 6,151 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Northrop Grumman by 57.5% during the third quarter. Corient Private Wealth LLC now owns 121,524 shares of the aerospace company’s stock valued at $53,495,000 after buying an additional 44,380 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Robert W. Baird increased their price target on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a research 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 target for the company in a research report on Monday, April 22nd. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Finally, Susquehanna increased their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $514.33.

Northrop Grumman Price Performance

Northrop Grumman stock traded down $0.09 during trading hours on Wednesday, hitting $471.81. 164,881 shares of the stock were exchanged, compared to its average volume of 970,026. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $496.89. 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 business’s 50-day moving average is $468.13 and its two-hundred day moving average is $465.06. The stock has a market capitalization of $69.82 billion, a P/E ratio of 33.00, a P/E/G ratio of 1.93 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, beating the consensus estimate of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The business had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the prior year, the firm earned $5.50 earnings per share. Northrop Grumman’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts expect that Northrop Grumman Co. will post 24.7 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $2.06 per share. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. This represents a $8.24 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, May 24th. Northrop Grumman’s dividend payout ratio is 52.31%.

Northrop Grumman Company 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.