Signet Financial Management LLC trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 11.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,503 shares of the aerospace company’s stock after selling 1,473 shares during the quarter. Signet Financial Management LLC’s holdings in Northrop Grumman were worth $4,055,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp acquired a new position in Northrop Grumman in the second quarter valued at about $9,784,000. Trust Co. of Toledo NA OH bought a new position in shares of Northrop Grumman during the 1st quarter valued at about $231,000. Sullivan Bruyette Speros & Blaney LLC grew its position in shares of Northrop Grumman by 4.8% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 1,495 shares of the aerospace company’s stock valued at $483,000 after purchasing an additional 69 shares during the period. Westwood Holdings Group Inc. grew its position in shares of Northrop Grumman by 1.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 245,284 shares of the aerospace company’s stock valued at $66,128,000 after purchasing an additional 2,777 shares during the period. Finally, Merit Financial Group LLC increased its stake in Northrop Grumman by 26.6% during the 1st quarter. Merit Financial Group LLC now owns 1,462 shares of the aerospace company’s stock worth $394,000 after purchasing an additional 307 shares in the last quarter. 83.11% of the stock is owned by institutional investors.
In other news, VP Christopher T. Jones sold 5,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $353.19, for a total transaction of $1,765,950.00. Following the completion of the transaction, the vice president now directly owns 67,422 shares in the company, valued at approximately $23,812,776.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kathy J. Warden sold 6,837 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the transaction, the chief executive officer now owns 99,002 shares of the company’s stock, valued at $34,993,246.92. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.
A number of research analysts have weighed in on the stock. ValuEngine lowered shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Tuesday. Credit Suisse Group increased their price objective on shares of Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Robert W. Baird raised their price objective on shares of Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. UBS Group raised their price objective on shares of Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Sanford C. Bernstein boosted their price objective on shares of Northrop Grumman from $344.00 to $368.00 in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. Northrop Grumman currently has a consensus rating of “Buy” and a consensus target price of $347.60.
Shares of NOC traded up $2.71 during mid-day trading on Wednesday, hitting $357.80. 948,965 shares of the company’s stock were exchanged, compared to its average volume of 644,584. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15. Northrop Grumman Co. has a 52 week low of $223.63 and a 52 week high of $377.34. The company has a market cap of $60.21 billion, a PE ratio of 16.77, a P/E/G ratio of 1.46 and a beta of 0.79. The company has a 50-day simple moving average of $360.75 and a 200 day simple moving average of $312.91.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, topping the Zacks’ consensus estimate of $4.64 by $0.42. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.41 billion. During the same quarter in the previous year, the firm posted $4.50 earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, analysts anticipate that Northrop Grumman Co. will post 19.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.28 annualized dividend and a yield of 1.48%. Northrop Grumman’s payout ratio is currently 24.75%.
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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