First Trust Advisors LP Buys 371,814 Shares of Northrop Grumman Co. (NYSE:NOC)

First Trust Advisors LP raised its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 337.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 482,112 shares of the aerospace company's stock after buying an additional 371,814 shares during the period. First Trust Advisors LP owned 0.33% of Northrop Grumman worth $226,250,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of NOC. Whipplewood Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter worth $31,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman during the 4th quarter worth $33,000. Modus Advisors LLC purchased a new position in shares of Northrop Grumman in the 4th quarter worth about $38,000. Stonebridge Financial Group LLC bought a new position in Northrop Grumman during the fourth quarter valued at about $42,000. Finally, Rakuten Securities Inc. increased its holdings in Northrop Grumman by 291.7% during the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock worth $44,000 after buying an additional 70 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Price Performance

Northrop Grumman stock traded up $8.19 during midday trading on Wednesday, hitting $472.27. 1,929,122 shares of the company's stock were exchanged, compared to its average volume of 886,606. The company has a market cap of $68.07 billion, a P/E ratio of 16.66, a PEG ratio of 3.73 and a beta of 0.20. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The stock has a 50-day moving average price of $489.82 and a two-hundred day moving average price of $491.26. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $10.07 billion. On average, equities research analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.74%. The ex-dividend date was Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is currently 29.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 3rd. UBS Group decreased their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research report on Wednesday. Susquehanna dropped their price target on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a research report on Wednesday. Citigroup lifted their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Finally, Morgan Stanley boosted their price objective on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $544.24.

Insider Activity

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

About Northrop Grumman

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.