Axxcess Wealth Management LLC grew its stake in Northrop Grumman Co. (NYSE:NOC – Get Rating) by 47.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 905 shares of the aerospace company’s stock after purchasing an additional 292 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Northrop Grumman were worth $433,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of NOC. Lansing Street Advisors acquired a new stake in Northrop Grumman during the first quarter worth about $25,000. Kings Point Capital Management raised its stake in Northrop Grumman by 83.3% during the first quarter. Kings Point Capital Management now owns 55 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 25 shares during the period. Core Alternative Capital raised its stake in Northrop Grumman by 666.7% during the first quarter. Core Alternative Capital now owns 69 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 60 shares during the period. Charter Oak Capital Management LLC acquired a new stake in Northrop Grumman during the second quarter worth about $31,000. Finally, Sargent Bickham Lagudis LLC raised its stake in Northrop Grumman by 100.0% during the second quarter. Sargent Bickham Lagudis LLC now owns 86 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 83.91% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Northrop Grumman from $516.00 to $575.00 and gave the stock an “equal weight” rating in a research note on Friday, October 28th. Morgan Stanley upped their target price on shares of Northrop Grumman from $530.00 to $585.00 and gave the stock an “overweight” rating in a research report on Thursday, November 10th. Robert W. Baird upped their target price on shares of Northrop Grumman from $529.00 to $570.00 in a research report on Friday, October 28th. Royal Bank of Canada upped their target price on shares of Northrop Grumman from $550.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, October 28th. Finally, Susquehanna upped their target price on shares of Northrop Grumman from $530.00 to $560.00 and gave the stock a “positive” rating in a research report on Wednesday, August 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $536.92.
Northrop Grumman Stock Down 0.4 %
Northrop Grumman Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Monday, November 28th will be paid a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, November 25th. Northrop Grumman’s dividend payout ratio is presently 19.66%.
Northrop Grumman Profile
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.
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