Jupiter Asset Management Ltd. Makes New $566,000 Investment in Northrop Grumman Co. (NYSE:NOC)

Jupiter Asset Management Ltd. bought a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,243 shares of the aerospace company’s stock, valued at approximately $566,000.

Several other institutional investors have also recently made changes to their positions in the company. Morgan Stanley raised its position in shares of Northrop Grumman by 3.5% in the fourth quarter. Morgan Stanley now owns 3,353,108 shares of the aerospace company’s stock worth $1,829,490,000 after acquiring an additional 114,823 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Northrop Grumman by 30.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,567,612 shares of the aerospace company’s stock valued at $723,799,000 after purchasing an additional 362,449 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Northrop Grumman by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,243,164 shares of the aerospace company’s stock worth $566,634,000 after purchasing an additional 13,958 shares during the period. Franklin Resources Inc. boosted its position in Northrop Grumman by 62.6% during the first quarter. Franklin Resources Inc. now owns 1,143,475 shares of the aerospace company’s stock worth $527,965,000 after purchasing an additional 440,303 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in Northrop Grumman by 7.7% in the first quarter. Macquarie Group Ltd. now owns 982,045 shares of the aerospace company’s stock valued at $453,430,000 after purchasing an additional 70,389 shares during the period. 82.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC opened at $464.17 on Monday. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $549.87. The stock has a market capitalization of $69.99 billion, a PE ratio of 15.23, a PEG ratio of 8.43 and a beta of 0.42. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.14 and a current ratio of 1.28. The stock has a 50-day simple moving average of $456.97 and a 200-day simple moving average of $448.37.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 26th. The aerospace company reported $6.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.81 by $0.37. Northrop Grumman had a net margin of 12.07% and a return on equity of 24.24%. The company had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.58 billion. During the same quarter in the previous year, the firm earned $5.89 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts predict that Northrop Grumman Co. will post 22.73 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 27th will be given a dividend of $1.87 per share. The ex-dividend date is Friday, November 24th. This represents a $7.48 annualized dividend and a dividend yield of 1.61%. Northrop Grumman’s dividend payout ratio is presently 24.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Bank of America decreased their target price on Northrop Grumman from $655.00 to $615.00 and set a “buy” rating on the stock in a research report on Friday, July 28th. Royal Bank of Canada reissued an “outperform” rating and set a $500.00 target price on shares of Northrop Grumman in a research note on Thursday, August 3rd. JPMorgan Chase & Co. raised their price target on shares of Northrop Grumman from $430.00 to $435.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Northrop Grumman in a research note on Wednesday, September 27th. They set a “buy” rating and a $502.00 price objective for the company. Finally, StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $500.20.

Insider Activity at Northrop Grumman

In other news, VP Mark A. Caylor sold 1,670 shares of Northrop Grumman stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $472.62, for a total transaction of $789,275.40. Following the sale, the vice president now owns 12,900 shares in the company, valued at $6,096,798. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Roshan S. Roeder sold 1,007 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $465.00, for a total value of $468,255.00. Following the completion of the sale, the vice president now owns 913 shares in the company, valued at approximately $424,545. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark A. Caylor sold 1,670 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $472.62, for a total transaction of $789,275.40. Following the transaction, the vice president now directly owns 12,900 shares in the company, valued at $6,096,798. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

About Northrop Grumman

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 in the United States and internationally. 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.