Stokes Capital Advisors LLC Grows Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Stokes Capital Advisors LLC increased its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 1.6% in the 1st quarter, Holdings Channel reports. The firm owned 15,620 shares of the aerospace company’s stock after buying an additional 243 shares during the period. Northrop Grumman accounts for approximately 2.0% of Stokes Capital Advisors LLC’s holdings, making the stock its 19th biggest position. Stokes Capital Advisors LLC’s holdings in Northrop Grumman were worth $7,998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Whipplewood Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter valued at approximately $31,000. Wood Tarver Financial Group LLC bought a new stake in Northrop Grumman during the fourth quarter valued at approximately $32,000. Bellwether Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter valued at approximately $33,000. Stonebridge Financial Group LLC bought a new stake in Northrop Grumman during the fourth quarter valued at approximately $42,000. Finally, Rakuten Securities Inc. grew its position in Northrop Grumman by 291.7% during the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company’s stock valued at $44,000 after buying an additional 70 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. The Goldman Sachs Group upgraded shares of Northrop Grumman from a “sell” rating to a “neutral” rating and upped their price target for the stock from $424.00 to $521.00 in a research report on Friday, April 11th. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Morgan Stanley upped their target price on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Finally, UBS Group dropped their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $545.31.

Insider Activity

In related news, VP Roshan S. Roeder sold 991 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the transaction, the vice president now owns 319 shares of the company’s stock, valued at $156,310. This trade represents a 75.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 1,057 shares of company stock valued at $517,733. 0.23% of the stock is currently owned by company insiders.

Northrop Grumman Price Performance

NOC stock opened at $489.55 on Friday. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The company has a fifty day simple moving average of $491.04 and a two-hundred day simple moving average of $482.45. The firm has a market capitalization of $70.46 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 3.73 and a beta of 0.14.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $10.07 billion. Analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be paid a $2.31 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.89%. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. Northrop Grumman’s dividend payout ratio is currently 36.46%.

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.