Northrop Grumman Co. (NYSE:NOC) Shares Sold by RMB Capital Management LLC

RMB Capital Management LLC lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 14.4% during the first quarter, HoldingsChannel.com reports. The firm owned 1,874 shares of the aerospace company’s stock after selling 314 shares during the period. RMB Capital Management LLC’s holdings in Northrop Grumman were worth $607,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Northrop Grumman by 0.9% during the first quarter. BlackRock Inc. now owns 9,576,630 shares of the aerospace company’s stock worth $3,099,378,000 after acquiring an additional 87,057 shares during the period. Morgan Stanley raised its stake in Northrop Grumman by 43.9% during the fourth quarter. Morgan Stanley now owns 1,412,149 shares of the aerospace company’s stock worth $430,309,000 after acquiring an additional 430,661 shares during the period. Bank of New York Mellon Corp raised its stake in Northrop Grumman by 3.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,389,433 shares of the aerospace company’s stock worth $423,389,000 after acquiring an additional 46,424 shares during the period. Nuveen Asset Management LLC raised its stake in Northrop Grumman by 30.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,243,441 shares of the aerospace company’s stock worth $378,901,000 after acquiring an additional 289,553 shares during the period. Finally, Clearbridge Investments LLC raised its stake in Northrop Grumman by 382.9% during the fourth quarter. Clearbridge Investments LLC now owns 1,104,396 shares of the aerospace company’s stock worth $336,532,000 after acquiring an additional 875,705 shares during the period. Hedge funds and other institutional investors own 83.30% of the company’s stock.

In other Northrop Grumman news, VP Mark A. Caylor sold 2,961 shares of the stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $352.04, for a total value of $1,042,390.44. Following the completion of the sale, the vice president now owns 10,019 shares in the company, valued at approximately $3,527,088.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kathy J. Warden sold 4,916 shares of the stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $352.04, for a total transaction of $1,730,628.64. Following the completion of the sale, the chief executive officer now owns 114,040 shares of the company’s stock, valued at approximately $40,146,641.60. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

NOC stock opened at $372.51 on Friday. Northrop Grumman Co. has a 12 month low of $282.88 and a 12 month high of $379.03. The firm has a market capitalization of $59.96 billion, a price-to-earnings ratio of 13.65 and a beta of 0.83. The company’s 50 day simple moving average is $357.41. The company has a current ratio of 1.46, a quick ratio of 1.36 and a debt-to-equity ratio of 1.21.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, April 29th. The aerospace company reported $6.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.48 by $1.09. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $8.49 billion. Northrop Grumman had a net margin of 12.10% and a return on equity of 40.40%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.48 EPS. Equities analysts forecast that Northrop Grumman Co. will post 24.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 16th. Investors of record on Tuesday, June 1st will be given a $1.57 dividend. This represents a $6.28 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, May 28th. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.45. Northrop Grumman’s dividend payout ratio is 26.55%.

Several equities research analysts recently weighed in on NOC shares. Zacks Investment Research upgraded shares of Northrop Grumman from a “sell” rating to a “hold” rating and set a $375.00 price objective on the stock in a research note on Monday, May 3rd. Susquehanna upped their target price on shares of Northrop Grumman from $350.00 to $409.00 and gave the stock a “positive” rating in a research report on Friday, April 30th. Wells Fargo & Company assumed coverage on shares of Northrop Grumman in a research report on Tuesday, May 18th. They issued an “underweight” rating and a $330.00 target price for the company. Morgan Stanley upped their target price on shares of Northrop Grumman from $447.00 to $478.00 and gave the stock an “overweight” rating in a research report on Friday, April 30th. Finally, Stifel Nicolaus upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and upped their target price for the stock from $350.00 to $475.00 in a research report on Friday, June 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $393.17.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems for strategic and tactical intelligence, surveillance, and reconnaissance (ISR) missions; and long-range strike aircraft systems, tactical fighter aircrafts, and airborne battle management systems.

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

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