Commerce Bank cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,198 shares of the aerospace company’s stock after selling 185 shares during the quarter. Commerce Bank’s holdings in Northrop Grumman were worth $4,296,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in NOC. Procyon Private Wealth Partners LLC acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at approximately $26,000. Versant Capital Management Inc lifted its stake in shares of Northrop Grumman by 54.4% during the first quarter. Versant Capital Management Inc now owns 88 shares of the aerospace company’s stock valued at $26,000 after buying an additional 31 shares during the period. Raab & Moskowitz Asset Management LLC purchased a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $27,000. Ballast Advisors LLC purchased a new position in shares of Northrop Grumman during the first quarter valued at approximately $30,000. Finally, Stonebridge Financial Planning Group LLC purchased a new position in Northrop Grumman during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 82.58% of the company’s stock.
NOC opened at $325.91 on Friday. The company has a fifty day simple moving average of $331.34 and a 200 day simple moving average of $344.60. The firm has a market cap of $54.70 billion, a price-to-earnings ratio of 15.40 and a beta of 0.81. Northrop Grumman Co. has a twelve month low of $263.31 and a twelve month high of $385.01. The company has a current ratio of 1.29, a quick ratio of 1.21 and a debt-to-equity ratio of 1.72.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $5.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.51 by ($0.36). The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.54 billion. Northrop Grumman had a net margin of 6.57% and a return on equity of 39.22%. Northrop Grumman’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $5.06 earnings per share. On average, analysts forecast that Northrop Grumman Co. will post 22.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st will be issued a dividend of $1.45 per share. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.32. This represents a $5.80 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, May 29th. Northrop Grumman’s dividend payout ratio (DPR) is currently 24.89%.
In other Northrop Grumman news, VP Mark A. Caylor sold 4,805 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $361.07, for a total transaction of $1,734,941.35. Following the completion of the transaction, the vice president now directly owns 17,755 shares of the company’s stock, valued at approximately $6,410,797.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mark A. Caylor sold 3,340 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $324.69, for a total transaction of $1,084,464.60. Following the transaction, the vice president now directly owns 14,415 shares of the company’s stock, valued at $4,680,406.35. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.
A number of research firms have weighed in on NOC. ValuEngine downgraded shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Wednesday, April 1st. Goldman Sachs Group downgraded shares of Northrop Grumman from a “buy” rating to a “sell” rating and cut their price target for the stock from $409.00 to $337.00 in a research note on Monday, February 3rd. Seaport Global Securities began coverage on shares of Northrop Grumman in a research note on Tuesday. They set a “buy” rating and a $398.00 price target on the stock. Royal Bank of Canada began coverage on shares of Northrop Grumman in a research note on Wednesday. They set a “sector perform” rating and a $366.00 price target on the stock. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on shares of Northrop Grumman from $380.00 to $412.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Northrop Grumman has an average rating of “Buy” and a consensus price target of $387.92.
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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