Deroy & Devereaux Private Investment Counsel Inc. Buys Shares of 410 Northrop Grumman Co. (NYSE:NOC)

Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 410 shares of the aerospace company’s stock, valued at approximately $217,000.

A number of other hedge funds have also recently modified their holdings of NOC. Optimum Investment Advisors grew its holdings in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares during the period. Bank & Trust Co bought a new position in shares of Northrop Grumman during the 2nd quarter valued at approximately $28,000. Meeder Asset Management Inc. increased its holdings in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Northrop Grumman during the 2nd quarter worth approximately $47,000. Finally, Larson Financial Group LLC lifted its holdings in Northrop Grumman by 281.5% during the first quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Analyst Ratings Changes

NOC has been the subject of a number of analyst reports. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their price target on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Wells Fargo & Company boosted their price objective on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and increased their target price for the stock from $474.00 to $575.00 in a research report on Monday, July 29th. Finally, Barclays boosted their price target on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Northrop Grumman has a consensus rating of “Hold” and an average price target of $550.56.

Northrop Grumman Stock Up 0.7 %

Shares of NYSE:NOC opened at $509.02 on Friday. The company has a market cap of $74.16 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 1.02 and a beta of 0.34. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $523.57 and a 200 day moving average price of $482.45.

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, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same period last year, the company earned $6.18 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Northrop Grumman Co. will post 25.95 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $2.06 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.62%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

About Northrop Grumman

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.