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

Hanlon Investment Management Inc. purchased a new stake in Northrop Grumman Co. (NYSE:NOC) during the third quarter, according to its most recent filing with the SEC. The firm purchased 473 shares of the aerospace company’s stock, valued at approximately $250,000.

Other large investors have also recently made changes to their positions in the company. Optimum Investment Advisors boosted its position in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Northrop Grumman in the 2nd quarter valued at about $28,000. Meeder Asset Management Inc. grew its position 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 worth $33,000 after buying an additional 54 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter worth approximately $40,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Northrop Grumman during the 2nd quarter worth approximately $47,000. 83.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NOC. Susquehanna raised their target price on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a research note on Friday, October 25th. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Alembic Global Advisors lowered Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research report on Tuesday, August 27th. Wells Fargo & Company raised their price target on Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Citigroup boosted their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Trading Up 0.1 %

NYSE NOC opened at $507.44 on Tuesday. The company has a fifty day moving average of $523.43 and a 200 day moving average of $483.68. The company has a market capitalization of $73.93 billion, a PE ratio of 31.44, a P/E/G ratio of 1.02 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

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

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.62%. 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.