Clarius Group LLC acquired a new stake in Northrop Grumman Co. (NYSE:NOC) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 870 shares of the aerospace company’s stock, valued at approximately $234,000.
Other institutional investors have also recently made changes to their positions in the company. SVA Plumb Wealth Management LLC lifted its position in Northrop Grumman by 2.5% in the first quarter. SVA Plumb Wealth Management LLC now owns 1,433 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 35 shares during the period. Penserra Capital Management LLC lifted its position in Northrop Grumman by 31.3% in the fourth quarter. Penserra Capital Management LLC now owns 168 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 40 shares during the period. First Personal Financial Services lifted its position in Northrop Grumman by 6.5% in the first quarter. First Personal Financial Services now owns 658 shares of the aerospace company’s stock worth $177,000 after purchasing an additional 40 shares during the period. Pendal Group Ltd lifted its position in Northrop Grumman by 1.1% in the first quarter. Pendal Group Ltd now owns 3,621 shares of the aerospace company’s stock worth $976,000 after purchasing an additional 41 shares during the period. Finally, Crestwood Advisors Group LLC lifted its position in Northrop Grumman by 4.9% in the first quarter. Crestwood Advisors Group LLC now owns 904 shares of the aerospace company’s stock worth $244,000 after purchasing an additional 42 shares during the period. 83.27% of the stock is owned by hedge funds and other institutional investors.
In other news, Chairman Wesley G. Bush sold 50,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $291.59, for a total value of $14,579,500.00. Following the completion of the sale, the chairman now owns 46,275 shares in the company, valued at $13,493,327.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Patrick M. Antkowiak sold 1,932 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $310.00, for a total value of $598,920.00. Following the completion of the sale, the vice president now owns 5,208 shares of the company’s stock, valued at approximately $1,614,480. The disclosure for this sale can be found here. Insiders sold 52,903 shares of company stock valued at $15,484,440 in the last 90 days. Corporate insiders own 0.45% of the company’s stock.
Shares of NYSE:NOC opened at $304.85 on Thursday. Northrop Grumman Co. has a one year low of $223.63 and a one year high of $331.25. The firm has a market cap of $51.06 billion, a PE ratio of 14.70, a P/E/G ratio of 1.21 and a beta of 0.79. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.18 and a quick ratio of 1.10.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $5.06 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.47. The company had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $8.34 billion. Northrop Grumman had a return on equity of 41.42% and a net margin of 9.67%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.21 EPS. On average, equities research analysts expect that Northrop Grumman Co. will post 19.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Monday, June 3rd will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.73%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.20. Northrop Grumman’s dividend payout ratio is presently 24.75%.
A number of equities research analysts have weighed in on the company. ValuEngine upgraded Northrop Grumman from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Barclays increased their price objective on Northrop Grumman from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. Zacks Investment Research downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Finally, Morgan Stanley increased their price objective on Northrop Grumman from $305.00 to $308.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 13th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Northrop Grumman currently has an average rating of “Buy” and an average price target of $333.06.
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Northrop Grumman Company Profile
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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