Alhambra Investment Management LLC Purchases 270 Shares of Northrop Grumman Co. (NYSE:NOC)

Alhambra Investment Management LLC increased its position in Northrop Grumman Co. (NYSE:NOC) by 25.8% in the first quarter, Holdings Channel.com reports. The fund owned 1,318 shares of the aerospace company’s stock after acquiring an additional 270 shares during the quarter. Alhambra Investment Management LLC’s holdings in Northrop Grumman were worth $675,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NOC. Vanguard Group Inc. lifted its position in Northrop Grumman by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company’s stock valued at $5,949,556,000 after purchasing an additional 56,807 shares during the last quarter. Capital International Investors lifted its position in Northrop Grumman by 5.9% during the fourth quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company’s stock valued at $3,866,133,000 after purchasing an additional 461,307 shares during the last quarter. Wellington Management Group LLP lifted its position in Northrop Grumman by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 4,164,700 shares of the aerospace company’s stock valued at $1,954,452,000 after purchasing an additional 23,808 shares during the last quarter. Geode Capital Management LLC lifted its position in Northrop Grumman by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company’s stock valued at $1,417,850,000 after purchasing an additional 21,903 shares during the last quarter. Finally, FMR LLC lifted its position in Northrop Grumman by 4.1% during the fourth quarter. FMR LLC now owns 2,807,223 shares of the aerospace company’s stock valued at $1,317,402,000 after purchasing an additional 109,308 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Down 0.5%

Shares of NYSE NOC opened at $489.11 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm’s fifty day moving average is $490.11 and its 200 day moving average is $482.30. The company has a market cap of $70.40 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 3.73 and a beta of 0.14.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $10.07 billion. On average, equities research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be given a dividend of $2.31 per share. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Monday, June 2nd. Northrop Grumman’s payout ratio is presently 36.46%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 price target on shares of Northrop Grumman and gave the stock an “overweight” rating in a research note on Thursday, April 24th. UBS Group decreased their price target on shares of Northrop Grumman from $583.00 to $571.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley lifted their price target on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group raised shares of Northrop Grumman from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $424.00 to $521.00 in a research note on Friday, April 11th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $545.31.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Roshan S. Roeder sold 991 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total transaction of $485,590.00. Following the transaction, the vice president now directly owns 319 shares of the company’s stock, valued at approximately $156,310. The trade was a 75.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 1,090 shares of company stock valued at $533,853. 0.23% of the stock is currently owned by company insiders.

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.