Migdal Insurance & Financial Holdings Ltd. Buys 1,060 Shares of Northrop Grumman Co. (NYSE:NOC)

Migdal Insurance & Financial Holdings Ltd. lifted its stake in Northrop Grumman Co. (NYSE:NOC) by 40.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,660 shares of the aerospace company’s stock after acquiring an additional 1,060 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Northrop Grumman were worth $1,933,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Optimum Investment Advisors grew its stake in Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares during the last quarter. Bank & Trust Co acquired a new position in shares of Northrop Grumman during the second quarter valued at about $28,000. Meeder Asset Management Inc. increased its holdings in shares of Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 54 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman in the 3rd quarter worth approximately $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Northrop Grumman during the 2nd quarter worth approximately $52,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Shares of NYSE:NOC traded up $8.41 during midday trading on Friday, hitting $528.99. The company’s stock had a trading volume of 495,835 shares, compared to its average volume of 701,397. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a market cap of $77.07 billion, a P/E ratio of 32.78, a price-to-earnings-growth ratio of 1.05 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The business’s 50 day simple moving average is $523.76 and its 200 day simple moving average is $484.96.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. During the same period in the previous year, the firm posted $6.18 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts forecast that Northrop Grumman Co. will post 25.95 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.56%. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group raised their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada lifted their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Barclays increased their price objective on Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Wells Fargo & Company lifted their target price on Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Susquehanna upped their target price on Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $550.56.

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.