Angeles Investment Advisors LLC Buys New Shares in Northrop Grumman Co. (NYSE:NOC)

Angeles Investment Advisors LLC purchased a new stake in Northrop Grumman Co. (NYSE:NOC) in the third quarter, HoldingsChannel reports. The fund purchased 475 shares of the aerospace company’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Optimum Investment Advisors grew its position in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth approximately $28,000. Meeder Asset Management Inc. increased its position in shares of Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Northrop Grumman in the third quarter valued at $40,000. Finally, Strategic Financial Concepts LLC bought a new position in Northrop Grumman in the second quarter worth $47,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 1,289 shares of company stock valued at $685,273. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on NOC shares. Royal Bank of Canada boosted their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research note on Tuesday, August 27th. JPMorgan Chase & Co. increased their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Morgan Stanley lifted their price objective on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, UBS Group upped their price objective on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Northrop Grumman has a consensus rating of “Hold” and an average price target of $550.56.

Northrop Grumman Stock Performance

Shares of NYSE:NOC opened at $520.39 on Thursday. The business has a fifty day moving average of $524.14 and a 200-day moving average of $485.78. The firm has a market cap of $75.82 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.07 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter last year, the company posted $6.18 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Northrop Grumman Co. will post 25.95 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.58%. Northrop Grumman’s payout ratio is 51.05%.

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.