Visionary Horizons LLC Takes Position in Northrop Grumman Co. (NYSE:NOC)

Visionary Horizons LLC purchased a new stake in Northrop Grumman Co. (NYSE:NOC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,191 shares of the aerospace company’s stock, valued at approximately $610,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Northrop Grumman by 0.5% in 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 in the last quarter. Capital International Investors increased 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 worth $3,866,133,000 after buying an additional 461,307 shares during the last quarter. Wellington Management Group LLP raised its holdings 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 buying an additional 23,808 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 buying an additional 21,903 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Northrop Grumman by 4.1% in the fourth quarter. FMR LLC now owns 2,807,223 shares of the aerospace company’s stock worth $1,317,402,000 after buying an additional 109,308 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NOC shares. Susquehanna decreased their target price on Northrop Grumman from $557.00 to $540.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Truist Financial reduced their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a 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 report on Thursday, April 24th. Finally, UBS Group reduced their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Nine 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $545.31.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $489.11 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm has a fifty day moving average of $490.11 and a two-hundred day moving average of $482.30. The stock has a market capitalization 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 posted its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, equities research analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

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

Insider Activity at Northrop Grumman

In related news, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total transaction of $485,590.00. Following the completion of the sale, the vice president now directly owns 319 shares of the company’s stock, valued at approximately $156,310. This trade represents a 75.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 1,090 shares of company stock valued at $533,853. 0.23% of the stock is owned by corporate insiders.

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.