Rakuten Investment Management Inc. Takes $2.25 Million Position in Northrop Grumman Corporation $NOC

Rakuten Investment Management Inc. purchased a new position in Northrop Grumman Corporation (NYSE:NOC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,696 shares of the aerospace company’s stock, valued at approximately $2,252,000.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Northrop Grumman by 176.3% during the fourth quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company’s stock valued at $1,394,000 after purchasing an additional 1,895 shares in the last quarter. Bison Wealth LLC boosted its holdings in shares of Northrop Grumman by 5.3% during the 4th quarter. Bison Wealth LLC now owns 641 shares of the aerospace company’s stock valued at $301,000 after buying an additional 32 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Northrop Grumman by 367.7% during the 1st quarter. Woodline Partners LP now owns 2,516 shares of the aerospace company’s stock valued at $1,288,000 after buying an additional 1,978 shares in the last quarter. Accurate Wealth Management LLC grew its position in shares of Northrop Grumman by 15.7% in the 2nd quarter. Accurate Wealth Management LLC now owns 663 shares of the aerospace company’s stock worth $341,000 after buying an additional 90 shares during the period. Finally, Norden Group LLC increased its stake in shares of Northrop Grumman by 36.9% in the 2nd quarter. Norden Group LLC now owns 716 shares of the aerospace company’s stock worth $358,000 after acquiring an additional 193 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOC has been the topic of several research reports. Citigroup boosted their price objective on shares of Northrop Grumman from $654.00 to $715.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Truist Financial restated a “hold” rating and issued a $623.00 price target (down previously from $688.00) on shares of Northrop Grumman in a research note on Friday, January 9th. Susquehanna reiterated a “positive” rating and set a $752.00 price objective on shares of Northrop Grumman in a research note on Thursday, January 15th. Deutsche Bank Aktiengesellschaft set a $700.00 target price on Northrop Grumman and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $727.00 price target on shares of Northrop Grumman in a report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and an average price target of $656.82.

Northrop Grumman Stock Performance

Shares of NOC opened at $672.67 on Friday. The company has a market cap of $96.00 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 5.44 and a beta of 0.05. The business’s fifty day simple moving average is $587.92 and its two-hundred day simple moving average is $582.49. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $677.30. The company has a current ratio of 1.11, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.43 by $1.24. Northrop Grumman had a return on equity of 25.49% and a net margin of 9.82%.The firm had revenue of $10.42 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the prior year, the company posted $7.00 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Research analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st were paid a dividend of $2.31 per share. The ex-dividend date was Monday, December 1st. This represents a $9.24 annualized dividend and a yield of 1.4%. Northrop Grumman’s dividend payout ratio is currently 33.24%.

Insider Transactions at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $615.00, for a total value of $1,845,000.00. Following the sale, the chief executive officer owned 191,602 shares in the company, valued at approximately $117,835,230. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Welsh III sold 97 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $564.08, for a total value of $54,715.76. Following the transaction, the director directly owned 4,281 shares in the company, valued at $2,414,826.48. The trade was a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 10,097 shares of company stock worth $6,099,716. Insiders own 0.23% of the company’s stock.

Northrop Grumman Company Profile

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.