Alpha Cubed Investments LLC Raises Holdings in Northrop Grumman Co. (NYSE:NOC)

Alpha Cubed Investments LLC increased its holdings in Northrop Grumman Co. (NYSE:NOC) by 24.0% in the 4th quarter, HoldingsChannel reports. The fund owned 776 shares of the aerospace company’s stock after purchasing an additional 150 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Northrop Grumman were worth $363,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NOC. Headlands Technologies LLC purchased a new position in shares of Northrop Grumman during the fourth quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Northrop Grumman during the third quarter worth $29,000. Providence Capital Advisors LLC boosted its position in shares of Northrop Grumman by 400.0% during the third quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock worth $44,000 after buying an additional 80 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in shares of Northrop Grumman during the third quarter worth $70,000. Finally, Rational Advisors LLC purchased a new position in shares of Northrop Grumman during the third quarter worth $72,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NOC shares. Susquehanna raised their price target on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. Robert W. Baird lifted their target price on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Royal Bank of Canada lifted their target price on Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company lifted their target price on Northrop Grumman from $483.00 to $518.00 and gave the company an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Hold” and an average price target of $509.38.

Insider Transactions at Northrop Grumman

In other news, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total transaction of $95,482.80. Following the sale, the chief accounting officer now owns 3,127 shares in the company, valued at $1,421,784.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the transaction, the chief accounting officer now owns 3,127 shares in the company, valued at approximately $1,421,784.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the transaction, the chief accounting officer now owns 4,137 shares in the company, valued at approximately $1,863,180.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,149 shares of company stock worth $1,421,147. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Down 0.2 %

Northrop Grumman stock opened at $485.03 on Wednesday. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $496.89. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02. The stock has a market cap of $71.78 billion, a PE ratio of 33.92, a P/E/G ratio of 2.00 and a beta of 0.35. The stock’s fifty day moving average is $463.92 and its two-hundred day moving average is $465.75.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The business had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the previous year, the firm earned $5.50 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts expect that Northrop Grumman Co. will post 24.7 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were given a dividend of $1.87 per share. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s dividend payout ratio (DPR) is currently 52.31%.

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.