Jacobi Capital Management LLC Purchases 73 Shares of Northrop Grumman Co. (NYSE:NOC)

Jacobi Capital Management LLC increased its position in Northrop Grumman Co. (NYSE:NOC) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,956 shares of the aerospace company’s stock after acquiring an additional 73 shares during the quarter. Jacobi Capital Management LLC’s holdings in Northrop Grumman were worth $936,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. increased its holdings in shares of Northrop Grumman by 960.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 48 shares during the period. Headlands Technologies LLC bought a new position in shares of Northrop Grumman during the 4th quarter worth about $25,000. Frazier Financial Advisors LLC bought a new position in shares of Northrop Grumman during the 4th quarter worth about $29,000. McIlrath & Eck LLC increased its holdings in shares of Northrop Grumman by 247.6% during the 4th quarter. McIlrath & Eck LLC now owns 73 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 52 shares during the period. Finally, Rise Advisors LLC bought a new position in shares of Northrop Grumman during the 1st quarter worth about $38,000. Institutional investors own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOC. Wells Fargo & Company boosted their price objective on shares of Northrop Grumman from $483.00 to $518.00 in a report on Tuesday, June 18th. BTIG Research started coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price on the stock. Robert W. Baird upped their target price on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Finally, Royal Bank of Canada upped their target price on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $510.36.

Northrop Grumman Price Performance

Shares of NOC stock traded up $0.16 during trading hours on Monday, reaching $438.10. 790,679 shares of the company were exchanged, compared to its average volume of 966,320. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The stock’s fifty day moving average is $443.23 and its two-hundred day moving average is $455.85. The company has a market cap of $64.83 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 2.04 and a beta of 0.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The company had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period in the prior year, the business earned $5.50 earnings per share. Northrop Grumman’s quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts forecast that Northrop Grumman Co. will post 24.71 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were issued a $2.06 dividend. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. This represents a $8.24 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, May 24th. Northrop Grumman’s dividend payout ratio is currently 57.62%.

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.