HORAN Wealth LLC Has $9.53 Million Position in Northrop Grumman Corporation $NOC

HORAN Wealth LLC grew its stake in Northrop Grumman Corporation (NYSE:NOC) by 103.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 14,140 shares of the aerospace company’s stock after acquiring an additional 7,195 shares during the period. Northrop Grumman accounts for approximately 0.9% of HORAN Wealth LLC’s investment portfolio, making the stock its 24th biggest holding. HORAN Wealth LLC’s holdings in Northrop Grumman were worth $9,528,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NOC. Financial Life Planners acquired a new position in Northrop Grumman in the 1st quarter valued at about $30,000. Torren Management LLC bought a new position in Northrop Grumman in the 4th quarter valued at about $26,000. Karpus Management Inc. acquired a new stake in Northrop Grumman during the fourth quarter worth approximately $26,000. Whipplewood Advisors LLC boosted its holdings in shares of Northrop Grumman by 380.0% during the first quarter. Whipplewood Advisors LLC now owns 48 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 38 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Trading Up 0.6%

Shares of NOC stock opened at $524.95 on Tuesday. The stock has a market cap of $74.56 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 3.53 and a beta of -0.10. Northrop Grumman Corporation has a 1 year low of $493.84 and a 1 year high of $774.00. The company has a current ratio of 1.15, a quick ratio of 1.04 and a debt-to-equity ratio of 0.84. The stock has a 50 day simple moving average of $537.61 and a 200 day simple moving average of $623.79.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Tuesday, April 21st. The aerospace company reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $6.06 by $0.08. The firm had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. Northrop Grumman had a return on equity of 24.72% and a net margin of 10.80%.The company’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $6.06 EPS. On average, research analysts predict that Northrop Grumman Corporation will post 27.95 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were paid a $2.47 dividend. This represents a $9.88 dividend on an annualized basis and a yield of 1.9%. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.31. The ex-dividend date of this dividend was Monday, June 1st. Northrop Grumman’s payout ratio is presently 30.92%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NOC shares. Jefferies Financial Group lowered their target price on Northrop Grumman from $620.00 to $580.00 and set a “hold” rating on the stock in a research note on Friday, June 26th. Wall Street Zen downgraded Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research note on Saturday, April 25th. UBS Group decreased their price objective on Northrop Grumman from $806.00 to $745.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Morgan Stanley set a $745.00 price objective on Northrop Grumman in a research report on Wednesday, July 15th. Finally, BTIG Research reissued a “buy” rating and set a $815.00 target price on shares of Northrop Grumman in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus price target of $676.29.

About Northrop Grumman

Northrop Grumman Corporation (NYSE: NOC) is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company’s portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.

The company’s work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.