Northrop Grumman Co. (NYSE:NOC) Holdings Raised by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC boosted its stake in Northrop Grumman Co. (NYSE:NOCGet Rating) by 47.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 905 shares of the aerospace company’s stock after buying an additional 292 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Northrop Grumman were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOC. Sanders Capital LLC lifted its position in Northrop Grumman by 21.9% in the 1st quarter. Sanders Capital LLC now owns 3,325,460 shares of the aerospace company’s stock worth $1,506,692,000 after buying an additional 596,760 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Northrop Grumman by 6,333.8% in the 1st quarter. 1832 Asset Management L.P. now owns 447,986 shares of the aerospace company’s stock worth $197,597,000 after buying an additional 441,023 shares in the last quarter. TD Asset Management Inc. increased its stake in shares of Northrop Grumman by 473.7% during the 2nd quarter. TD Asset Management Inc. now owns 346,170 shares of the aerospace company’s stock worth $165,666,000 after purchasing an additional 285,835 shares during the last quarter. Manning & Napier Group LLC increased its stake in shares of Northrop Grumman by 230.8% during the 2nd quarter. Manning & Napier Group LLC now owns 199,903 shares of the aerospace company’s stock worth $95,666,000 after purchasing an additional 139,481 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Northrop Grumman by 65.6% during the 2nd quarter. Deutsche Bank AG now owns 307,474 shares of the aerospace company’s stock worth $147,147,000 after purchasing an additional 121,821 shares during the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.

Northrop Grumman Stock Performance

NYSE NOC opened at $522.34 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.14 and a quick ratio of 1.05. The firm has a market capitalization of $80.39 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 7.44 and a beta of 0.64. The company’s fifty day moving average is $505.21 and its two-hundred day moving average is $481.90. Northrop Grumman Co. has a 52-week low of $345.91 and a 52-week high of $556.27.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Monday, November 28th will be given a $1.73 dividend. The ex-dividend date is Friday, November 25th. This represents a $6.92 annualized dividend and a yield of 1.32%. Northrop Grumman’s dividend payout ratio is 19.66%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $490.00 price target on the stock. in a research note on Friday, October 14th. Susquehanna increased their price target on shares of Northrop Grumman from $530.00 to $560.00 and gave the stock a “positive” rating in a research note on Wednesday, August 31st. Credit Suisse Group increased their price target on shares of Northrop Grumman to $575.00 in a research note on Tuesday, November 1st. Royal Bank of Canada raised their target price on shares of Northrop Grumman from $550.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 28th. Finally, Wolfe Research began coverage on shares of Northrop Grumman in a research note on Monday, October 10th. They issued an “outperform” rating and a $565.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.92.

About Northrop Grumman

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Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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.

Further Reading

Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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