Fisher Asset Management LLC Increases Stake in Northrop Grumman Co. (NYSE:NOC)

Fisher Asset Management LLC raised its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,514 shares of the aerospace company's stock after acquiring an additional 5,334 shares during the period. Fisher Asset Management LLC owned approximately 0.15% of Northrop Grumman worth $112,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Optimum Investment Advisors boosted its stake in shares of 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 during the period. Bank & Trust Co purchased a new stake in Northrop Grumman in the second quarter worth about $28,000. Meeder Asset Management Inc. lifted its stake in Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company's stock worth $33,000 after acquiring an additional 54 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Northrop Grumman in the third quarter worth about $40,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Northrop Grumman in the second quarter worth about $47,000. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Performance

Shares of NYSE NOC traded up $3.16 during midday trading on Tuesday, reaching $488.43. 841,250 shares of the stock were exchanged, compared to its average volume of 865,230. 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 $71.16 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 1.00 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a 50-day simple moving average of $519.87 and a two-hundred day simple moving average of $487.03.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating analysts' consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same quarter last year, the firm posted $6.18 EPS. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Monday, December 2nd. Northrop Grumman's payout ratio is 51.05%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NOC. Morgan Stanley upped their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an "overweight" rating in a research note on Friday, August 9th. UBS Group increased their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Citigroup increased their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. StockNews.com downgraded shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a "neutral" rating in a report on Monday, October 14th. 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $550.56.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 1,289 shares of company stock valued at $685,273. 0.22% 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.