International Assets Investment Management LLC Acquires 249,262 Shares of Northrop Grumman Corporation $NOC

International Assets Investment Management LLC raised its holdings in Northrop Grumman Corporation (NYSE:NOC) by 33,775.3% in the third quarter, Holdings Channel reports. The fund owned 250,000 shares of the aerospace company’s stock after acquiring an additional 249,262 shares during the period. Northrop Grumman accounts for about 0.9% of International Assets Investment Management LLC’s portfolio, making the stock its 16th biggest position. International Assets Investment Management LLC’s holdings in Northrop Grumman were worth $120,870,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC raised its position 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 purchasing an additional 38 shares during the period. Perkins Coie Trust Co acquired a new position in shares of Northrop Grumman in the 2nd quarter valued at approximately $29,000. Plato Investment Management Ltd bought a new stake in Northrop Grumman during the 2nd quarter worth approximately $30,000. Navigoe LLC bought a new stake in Northrop Grumman during the 2nd quarter worth approximately $30,000. Finally, Scarborough Advisors LLC acquired a new stake in Northrop Grumman during the 1st quarter worth approximately $42,000. 83.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Mark Welsh, III sold 95 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $547.53, for a total value of $52,015.35. Following the completion of the transaction, the director owned 4,393 shares of the company’s stock, valued at approximately $2,405,299.29. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.21% of the company’s stock.

Northrop Grumman Trading Down 0.6%

NYSE:NOC opened at $558.79 on Friday. The company has a market cap of $79.38 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 3.02 and a beta of -0.11. Northrop Grumman Corporation has a twelve month low of $470.06 and a twelve month high of $774.00. The business has a 50 day moving average price of $520.51 and a two-hundred day moving average price of $591.78. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.77.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.18 by $0.71. The company had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $11.14 billion. Northrop Grumman had a net margin of 10.37% and a return on equity of 23.46%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $7.67 earnings per share. As a group, analysts expect that Northrop Grumman Corporation will post 29.63 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Monday, August 31st were given a $2.47 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $9.88 dividend on an annualized basis and a yield of 1.8%. Northrop Grumman’s dividend payout ratio (DPR) is 31.17%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Northrop Grumman from $419.00 to $430.00 and gave the stock an “underweight” rating in a research report on Thursday, October 22nd. BNP Paribas Exane upped their target price on shares of Northrop Grumman from $540.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Citigroup increased their target price on Northrop Grumman from $617.00 to $667.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings raised Northrop Grumman from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $585.00 price target on shares of Northrop Grumman in a research note on Sunday, October 25th. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $643.74.

Northrop Grumman Company Profile

Northrop Grumman Corporation (NYSE:NOC) is a global aerospace and defense company that develops and produces systems for government and commercial customers, with the U.S. government representing its primary customer base. The company operates across aerospace, defense, space, cybersecurity and advanced technology markets.

Its products and services include military aircraft and autonomous systems, space systems and satellites, missile defense technologies, command-and-control systems, cyber solutions, sensors, communications networks and other mission-critical systems.