433 Shares in Northrop Grumman Co. (NYSE:NOC) Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC purchased a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 433 shares of the aerospace company’s stock, valued at approximately $229,000.

Several other large investors have also made changes to their positions in NOC. Norden Group LLC acquired a new stake in shares of Northrop Grumman during the 1st quarter worth approximately $778,000. First Trust Direct Indexing L.P. lifted its stake in Northrop Grumman by 3.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,859 shares of the aerospace company’s stock valued at $1,368,000 after purchasing an additional 102 shares during the last quarter. Diversify Advisory Services LLC bought a new position in Northrop Grumman in the 1st quarter valued at approximately $870,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Northrop Grumman by 26.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,905 shares of the aerospace company’s stock valued at $10,188,000 after purchasing an additional 4,586 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Northrop Grumman by 6.9% in the 1st quarter. Blue Trust Inc. now owns 2,663 shares of the aerospace company’s stock valued at $1,275,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a research note on Tuesday. Morgan Stanley increased their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Royal Bank of Canada raised their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $550.56.

Northrop Grumman Trading Up 0.7 %

NYSE:NOC opened at $509.02 on Friday. The stock has a market capitalization of $74.16 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 1.02 and a beta of 0.34. The firm has a fifty day simple moving average of $523.57 and a two-hundred day simple moving average of $482.45. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company earned $6.18 earnings per share. Analysts expect that Northrop Grumman Co. will post 25.95 EPS for the current fiscal 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 (DPR) is presently 51.05%.

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.