Phillips Wealth Planners LLC Takes $233,000 Position in Northrop Grumman Co. (NYSE:NOC)

Phillips Wealth Planners LLC bought a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 439 shares of the aerospace company’s stock, valued at approximately $233,000.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on NOC shares. Barclays raised their target price on Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a research note on Tuesday. Susquehanna lifted their price objective on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday, October 25th. UBS Group upped their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada raised their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $550.56.

Northrop Grumman Trading Down 0.4 %

Shares of NOC stock opened at $506.86 on Friday. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average of $523.52 and a 200-day moving average of $482.84. The firm has a market cap of $73.85 billion, a P/E ratio of 31.40, a PEG ratio of 1.02 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last issued its earnings results 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 firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same period in the previous year, the company posted $6.18 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that Northrop Grumman Co. will post 25.95 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.63%. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman Company 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.