Empire Financial Management Company LLC Purchases Shares of 2,392 Northrop Grumman Co. (NYSE:NOC)

Empire Financial Management Company LLC acquired a new stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,392 shares of the aerospace company's stock, valued at approximately $1,123,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Northrop Grumman by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company's stock worth $5,949,556,000 after purchasing an additional 56,807 shares during the period. Capital International Investors lifted its stake in shares of Northrop Grumman by 5.9% during the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company's stock worth $3,866,133,000 after acquiring an additional 461,307 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Northrop Grumman by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 4,164,700 shares of the aerospace company's stock valued at $1,954,452,000 after acquiring an additional 23,808 shares during the period. Geode Capital Management LLC grew its position in Northrop Grumman by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company's stock valued at $1,417,850,000 after acquiring an additional 21,903 shares during the last quarter. Finally, FMR LLC increased its stake in Northrop Grumman by 4.1% in the fourth quarter. FMR LLC now owns 2,807,223 shares of the aerospace company's stock worth $1,317,402,000 after purchasing an additional 109,308 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Up 2.2 %

Shares of Northrop Grumman stock traded up $10.31 during trading on Friday, reaching $473.38. The company's stock had a trading volume of 1,329,267 shares, compared to its average volume of 885,333. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a 50-day simple moving average of $491.64 and a two-hundred day simple moving average of $489.95. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The company has a market cap of $68.13 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 3.73 and a beta of 0.20.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $10.07 billion. As a group, equities analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman's dividend payout ratio is presently 32.52%.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 192 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the sale, the chief executive officer now directly owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,505 shares of company stock worth $2,127,182. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company set a $525.00 target price on shares of Northrop Grumman and gave the stock an "overweight" rating in a research note on Thursday. Citigroup lifted their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Argus upgraded Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. Finally, Morgan Stanley upped their target price on Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Northrop Grumman currently has an average rating of "Moderate Buy" and an average price target of $542.94.

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.