Northrop Grumman Co. (NYSE:NOC) Holdings Trimmed by Hyman Charles D

Hyman Charles D reduced its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,218 shares of the aerospace company’s stock after selling 130 shares during the period. Hyman Charles D’s holdings in Northrop Grumman were worth $9,933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. London Co. of Virginia bought a new stake in Northrop Grumman in the third quarter worth $165,786,000. Invesco Ltd. boosted its holdings in Northrop Grumman by 74.7% in the third quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock worth $517,028,000 after purchasing an additional 502,060 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Northrop Grumman by 19.7% in the fourth quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock worth $7,731,000 after purchasing an additional 2,723 shares in the last quarter. Phraction Management LLC bought a new stake in Northrop Grumman in the third quarter worth $677,000. Finally, Cerity Partners LLC lifted its position in Northrop Grumman by 2,801.7% during the 4th quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock worth $154,720,000 after acquiring an additional 319,109 shares during the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC traded down $2.38 during trading hours on Wednesday, reaching $471.37. 866,615 shares of the company traded hands, compared to its average volume of 1,006,585. The stock’s fifty day moving average is $465.45 and its 200 day moving average is $465.24. The stock has a market cap of $69.76 billion, a P/E ratio of 32.96, a price-to-earnings-growth ratio of 1.93 and a beta of 0.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $496.89.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $9.77 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.50 earnings per share. Equities research analysts anticipate that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were paid a $1.87 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a yield of 1.59%. Northrop Grumman’s payout ratio is currently 52.31%.

Analysts Set New Price Targets

A number of research analysts have weighed in on NOC shares. TheStreet lowered shares of Northrop Grumman from a “b+” rating to a “c+” rating in a research report on Thursday, January 25th. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Robert W. Baird boosted their target price on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Susquehanna boosted their target price on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. Finally, Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price for the company in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman has an average rating of “Hold” and a consensus price target of $509.38.

Insider Activity at Northrop Grumman

In related news, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the sale, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the sale, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kathryn G. Simpson sold 711 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the sale, the vice president now directly owns 2,024 shares in the company, valued at approximately $917,317.28. The disclosure for this sale can be found here. Insiders have sold a total of 3,149 shares of company stock valued at $1,421,147 over the last quarter. 0.22% of the stock is owned by company 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.