LifeSteps Financial Inc. Invests $202,000 in Northrop Grumman Co. (NYSE:NOC)

LifeSteps Financial Inc. purchased a new stake in Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 382 shares of the aerospace company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ascent Group LLC boosted its holdings in shares of Northrop Grumman by 0.5% in the 2nd quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock valued at $1,891,000 after purchasing an additional 20 shares during the last quarter. Cornell Pochily Investment Advisors Inc. raised its position in shares of Northrop Grumman by 0.9% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after buying an additional 20 shares during the period. Asset Dedication LLC boosted its holdings in Northrop Grumman by 1.0% in the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after acquiring an additional 20 shares during the last quarter. Salvus Wealth Management LLC grew its position in Northrop Grumman by 1.6% during the third quarter. Salvus Wealth Management LLC now owns 1,321 shares of the aerospace company’s stock valued at $698,000 after acquiring an additional 21 shares during the period. Finally, Turtle Creek Wealth Advisors LLC increased its stake in Northrop Grumman by 4.6% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 500 shares of the aerospace company’s stock worth $218,000 after acquiring an additional 22 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Down 1.4 %

Shares of Northrop Grumman stock traded down $7.18 on Thursday, hitting $524.25. 446,202 shares of the company’s stock traded hands, compared to its average volume of 871,274. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The stock has a market cap of $77.58 billion, a P/E ratio of 37.16, a PEG ratio of 2.44 and a beta of 0.34. The firm’s 50-day moving average is $520.27 and its 200 day moving average is $478.08.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The firm had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.34 EPS. Equities analysts anticipate that Northrop Grumman Co. will post 25.16 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is currently 57.62%.

Insider Buying and Selling at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the transaction, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now directly owns 6,755 shares in the company, valued at $3,225,917.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the sale, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,879 shares of company stock worth $1,410,703 over the last quarter. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NOC. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research note on Tuesday, August 27th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Royal Bank of Canada upped their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, UBS Group increased their price target on Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $535.00.

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.