Atria Wealth Solutions Inc. Invests $8.56 Million in Northrop Grumman Co. (NYSE:NOC)

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Atria Wealth Solutions Inc. purchased a new position in shares of Northrop Grumman Co. (NYSE:NOCGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,144 shares of the aerospace company’s stock, valued at approximately $8,561,000.

A number of other hedge funds have also modified their holdings of NOC. Lansing Street Advisors purchased a new position in Northrop Grumman during the 1st quarter valued at about $25,000. Kings Point Capital Management boosted its holdings in Northrop Grumman by 83.3% during the 1st quarter. Kings Point Capital Management now owns 55 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 25 shares during the period. Rather & Kittrell Inc. purchased a new position in Northrop Grumman during the 4th quarter valued at about $26,000. Core Alternative Capital boosted its holdings in Northrop Grumman by 666.7% during the 1st quarter. Core Alternative Capital now owns 69 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 60 shares during the period. Finally, Burleson & Company LLC purchased a new position in Northrop Grumman during the 1st quarter valued at about $34,000. 83.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on NOC shares. Robert W. Baird upgraded Northrop Grumman from a “neutral” rating to an “outperform” rating and raised their target price for the company from $488.00 to $529.00 in a report on Friday, July 29th. Cowen set a $510.00 price objective on Northrop Grumman in a research note on Tuesday, July 19th. Royal Bank of Canada initiated coverage on Northrop Grumman in a research note on Monday, August 29th. They issued a “sector perform” rating and a $550.00 price objective for the company. Susquehanna Bancshares lifted their price objective on Northrop Grumman from $530.00 to $560.00 and gave the company a “positive” rating in a research note on Wednesday, August 31st. Finally, Morgan Stanley lifted their price objective on Northrop Grumman from $521.00 to $530.00 and gave the company an “overweight” rating in a research note on Tuesday, July 12th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Northrop Grumman has an average rating of “Hold” and a consensus price target of $487.75.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $491.41 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.20 and a current ratio of 1.30. Northrop Grumman Co. has a fifty-two week low of $344.89 and a fifty-two week high of $497.20. The firm has a market capitalization of $76.03 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 9.06 and a beta of 0.61. The stock’s 50-day simple moving average is $474.81 and its 200-day simple moving average is $461.95.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Monday, August 29th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, August 26th. Northrop Grumman’s dividend payout ratio (DPR) is presently 19.26%.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Thomas L. Wilson, Jr. sold 582 shares of Northrop Grumman stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $482.00, for a total transaction of $280,524.00. Following the transaction, the vice president now owns 2,094 shares of the company’s stock, valued at $1,009,308. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Northrop Grumman news, VP Sheila C. Cheston sold 4,025 shares of Northrop Grumman stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $473.99, for a total transaction of $1,907,809.75. Following the transaction, the vice president now owns 25,350 shares of the company’s stock, valued at $12,015,646.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas L. Wilson, Jr. sold 582 shares of Northrop Grumman stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $482.00, for a total value of $280,524.00. Following the transaction, the vice president now directly owns 2,094 shares in the company, valued at approximately $1,009,308. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,607 shares of company stock valued at $7,007,034. Corporate insiders own 0.25% of the company’s stock.

Northrop Grumman Profile

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Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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.

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