Trueblood Wealth Management LLC Buys New Shares in Northrop Grumman Co. (NYSE:NOC)

Trueblood Wealth Management LLC purchased a new position in shares of Northrop Grumman Co. (NYSE:NOC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 439 shares of the aerospace company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Optimum Investment Advisors boosted its stake in Northrop Grumman by 241.2% in 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 purchased a new stake in shares of Northrop Grumman in the 2nd quarter valued at $28,000. Meeder Asset Management Inc. grew its holdings in shares of Northrop Grumman by 245.5% during the 2nd 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 last quarter. Larson Financial Group LLC raised its position in Northrop Grumman by 281.5% in the 1st quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 76 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Northrop Grumman in the second quarter worth $52,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Down 0.8 %

Shares of NYSE:NOC opened at $519.35 on Friday. The firm has a market capitalization of $75.95 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.38 and a beta of 0.34. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The stock has a 50 day moving average price of $523.28 and a 200-day moving average price of $480.60. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week 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 (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the prior year, the company earned $6.18 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Northrop Grumman Co. will post 25.16 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 53.79%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a research note on Tuesday, August 27th. Wells Fargo & Company lifted their price target on Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Friday. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Morgan Stanley upped their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, TD Cowen raised shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. 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 stock. Based on data from MarketBeat, Northrop Grumman has a consensus rating of “Hold” and a consensus price target of $547.44.

Insiders Place Their Bets

In other news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 1,490 shares of company stock worth $747,372. 0.22% of the stock is currently owned by company insiders.

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.