Sterling Investment Counsel LLC Cuts Stake in Northrop Grumman Co. (NYSE:NOC)

Sterling Investment Counsel LLC lowered its position in shares of Northrop Grumman Co. (NYSE:NOCFree Report) by 51.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 462 shares of the aerospace company’s stock after selling 485 shares during the period. Sterling Investment Counsel LLC’s holdings in Northrop Grumman were worth $216,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Northrop Grumman during the third quarter valued at about $29,000. State of Wyoming boosted its holdings in Northrop Grumman by 76.5% in the fourth quarter. State of Wyoming now owns 60 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 26 shares in the last quarter. IMA Wealth Inc. boosted its holdings in Northrop Grumman by 196.3% in the second quarter. IMA Wealth Inc. now owns 80 shares of the aerospace company’s stock worth $36,000 after acquiring an additional 53 shares in the last quarter. Providence Capital Advisors LLC boosted its holdings in Northrop Grumman by 400.0% in the third quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 80 shares in the last quarter. Finally, West Tower Group LLC acquired a new stake in Northrop Grumman in the second quarter worth about $48,000. Hedge funds and other institutional investors own 82.40% of the company’s stock.

Northrop Grumman Price Performance

NYSE:NOC opened at $468.74 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.05. The company has a 50 day moving average price of $457.71 and a 200-day moving average price of $459.90. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $496.89. The firm has a market cap of $70.33 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 1.88 and a beta of 0.34.

Northrop Grumman (NYSE:NOCGet Free Report) last posted its earnings results on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.47. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.43 billion. During the same period in the previous year, the business posted $7.50 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that Northrop Grumman Co. will post 24.66 EPS for the current year.

Northrop Grumman Announces Dividend

The company 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. This represents a $7.48 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s dividend payout ratio is currently 55.49%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TheStreet downgraded Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. Wolfe Research downgraded Northrop Grumman from a “peer perform” rating to an “underperform” rating and set a $450.00 price target for the company. in a report on Thursday, December 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $450.00 price target (down previously from $515.00) on shares of Northrop Grumman in a report on Friday, January 26th. Robert W. Baird decreased their target price on Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 26th. Finally, Susquehanna decreased their target price on Northrop Grumman from $560.00 to $540.00 and set a “positive” rating for the company in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Hold” and a consensus price target of $494.33.

Check Out Our Latest Stock Report on NOC

Insider Activity at Northrop Grumman

In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total transaction of $95,482.80. Following the completion of the transaction, the chief accounting officer now directly owns 3,127 shares in the company, valued at $1,421,784.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Northrop Grumman news, VP Kathryn G. Simpson sold 711 shares of the company’s stock in a transaction on 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 transaction, the vice president now directly owns 2,024 shares in the company, valued at $917,317.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total transaction of $95,482.80. Following the transaction, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The disclosure for this sale can be found here. Insiders sold a total of 3,149 shares of company stock worth $1,421,147 in the last three months. Company insiders own 0.26% of the company’s stock.

About Northrop Grumman

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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