Penserra Capital Management LLC Has $138.89 Million Holdings in Northrop Grumman Corporation (NYSE:NOC)

Penserra Capital Management LLC lifted its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 18.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,261 shares of the aerospace company’s stock after acquiring an additional 42,733 shares during the quarter. Northrop Grumman makes up 2.5% of Penserra Capital Management LLC’s holdings, making the stock its 2nd biggest holding. Penserra Capital Management LLC owned about 0.19% of Northrop Grumman worth $138,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC increased its holdings in Northrop Grumman by 43.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 133 shares of the aerospace company’s stock worth $68,000 after purchasing an additional 40 shares in the last quarter. Maj Invest Holding A S bought a new stake in Northrop Grumman in the first quarter worth approximately $92,000. Concurrent Investment Advisors LLC increased its holdings in Northrop Grumman by 23.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,530 shares of the aerospace company’s stock worth $1,295,000 after purchasing an additional 480 shares in the last quarter. HM Payson & Co. increased its holdings in Northrop Grumman by 13.9% in the first quarter. HM Payson & Co. now owns 3,483 shares of the aerospace company’s stock worth $1,783,000 after purchasing an additional 426 shares in the last quarter. Finally, World Investment Advisors increased its holdings in Northrop Grumman by 24.2% in the first quarter. World Investment Advisors now owns 2,976 shares of the aerospace company’s stock worth $1,524,000 after purchasing an additional 580 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted 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. UBS Group lowered their target price on Northrop Grumman from $583.00 to $571.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 price objective on Northrop Grumman and gave the company an “overweight” rating in a report on Thursday, April 24th. Wall Street Zen downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, April 24th. Finally, Susquehanna decreased their price objective on Northrop Grumman from $557.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman has a consensus rating of “Moderate Buy” and an average price target of $552.54.

Northrop Grumman Stock Up 0.9%

NOC stock opened at $503.40 on Friday. The stock’s fifty day simple moving average is $486.97 and its two-hundred day simple moving average is $484.24. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. Northrop Grumman Corporation has a 1-year low of $422.69 and a 1-year high of $555.57. The stock has a market cap of $72.45 billion, a P/E ratio of 19.87, a P/E/G ratio of 5.51 and a beta of 0.15.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were issued a $2.31 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.84%. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.06. Northrop Grumman’s dividend payout ratio (DPR) is presently 36.46%.

Insiders Place Their Bets

In related news, CEO Kathy J. Warden sold 7,500 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the transaction, the chief executive officer directly owned 201,602 shares of the company’s stock, valued at approximately $101,964,243.54. This trade represents a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas H. Jones sold 729 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the transaction, the vice president directly owned 7,552 shares in the company, valued at approximately $3,819,575.04. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,569 shares of company stock worth $8,322,279. 0.23% of the stock is currently owned by insiders.

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.