SteelPeak Wealth LLC Has $2.35 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

SteelPeak Wealth LLC boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 23.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,457 shares of the aerospace company’s stock after buying an additional 832 shares during the period. SteelPeak Wealth LLC’s holdings in Northrop Grumman were worth $2,354,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in shares of Northrop Grumman by 21.6% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 575 shares of the aerospace company’s stock worth $304,000 after acquiring an additional 102 shares in the last quarter. Childress Capital Advisors LLC purchased a new position in Northrop Grumman in the third quarter valued at about $264,000. Trinity Street Asset Management LLP increased its position in Northrop Grumman by 7.1% in the 3rd quarter. Trinity Street Asset Management LLP now owns 46,581 shares of the aerospace company’s stock worth $24,598,000 after purchasing an additional 3,081 shares during the last quarter. PBMares Wealth Management LLC raised its stake in shares of Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after purchasing an additional 20 shares in the last quarter. Finally, Traynor Capital Management Inc. lifted its holdings in shares of Northrop Grumman by 4.6% during the 3rd quarter. Traynor Capital Management Inc. now owns 23,177 shares of the aerospace company’s stock valued at $12,239,000 after buying an additional 1,011 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock traded up $3.63 during mid-day trading on Wednesday, reaching $507.68. The stock had a trading volume of 283,334 shares, compared to its average volume of 868,496. The firm has a market cap of $73.97 billion, a PE ratio of 31.23, a P/E/G ratio of 2.31 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The firm’s 50 day simple moving average is $523.60 and its 200 day simple moving average is $482.10.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.18 earnings per share. On average, analysts forecast that Northrop Grumman Co. will post 25.87 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Analysts Set New Price Targets

Several brokerages have recently commented on NOC. UBS Group increased their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barclays raised their target price on Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday. Morgan Stanley upped their price target on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and raised their price objective for the company from $474.00 to $575.00 in a research note on Monday, July 29th. Finally, Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price for the company. in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $550.56.

Insider Buying and Selling at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,490 shares of company stock worth $747,372 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

About Northrop Grumman

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.