Hanlon Investment Management Inc. Purchases Shares of 473 Northrop Grumman Co. (NYSE:NOC)

Hanlon Investment Management Inc. acquired a new stake in Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 473 shares of the aerospace company’s stock, valued at approximately $250,000.

Other hedge funds have also recently made changes to their positions in the company. Optimum Investment Advisors boosted its stake in Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $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 second quarter worth $28,000. Meeder Asset Management Inc. grew its stake in Northrop Grumman by 245.5% during the second 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. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at $40,000. Finally, Larson Financial Group LLC lifted its stake in Northrop Grumman by 281.5% in the 1st quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NOC shares. JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Wells Fargo & Company increased their target price 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. Barclays boosted their price target on shares of Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Stock Performance

NOC stock opened at $507.44 on Tuesday. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The firm has a market cap of $73.93 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.02 and a beta of 0.35. The business’s fifty day simple moving average is $523.43 and its two-hundred day simple moving average is $483.68. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Northrop Grumman’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.18 earnings per share. Analysts predict that Northrop Grumman Co. will post 25.95 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Northrop Grumman 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.