Patrick M Sweeney & Associates Inc. Invests $385,000 in Northrop Grumman Co. (NYSE:NOC)

Patrick M Sweeney & Associates Inc. acquired a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 823 shares of the aerospace company’s stock, valued at approximately $385,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Wesbanco Bank Inc. raised its position in shares of Northrop Grumman by 1.2% during the third quarter. Wesbanco Bank Inc. now owns 1,782 shares of the aerospace company’s stock worth $784,000 after purchasing an additional 21 shares during the period. Ausdal Financial Partners Inc. lifted its stake in Northrop Grumman by 4.4% during the fourth quarter. Ausdal Financial Partners Inc. now owns 524 shares of the aerospace company’s stock valued at $245,000 after buying an additional 22 shares in the last quarter. Secure Asset Management LLC boosted its holdings in shares of Northrop Grumman by 2.7% in the fourth quarter. Secure Asset Management LLC now owns 844 shares of the aerospace company’s stock worth $395,000 after buying an additional 22 shares during the period. Venturi Wealth Management LLC increased its position in shares of Northrop Grumman by 16.2% in the third quarter. Venturi Wealth Management LLC now owns 165 shares of the aerospace company’s stock worth $73,000 after acquiring an additional 23 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. raised its holdings in shares of Northrop Grumman by 3.3% during the fourth quarter. Tilia Fiduciary Partners Inc. now owns 727 shares of the aerospace company’s stock valued at $340,000 after acquiring an additional 23 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the sale, the chief accounting officer now owns 3,127 shares in the company, valued at approximately $1,421,784.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Northrop Grumman news, VP Kathryn G. Simpson sold 711 shares of the firm’s stock in a transaction dated 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 owns 2,024 shares in the company, valued at $917,317.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the sale, the chief accounting officer now directly owns 3,127 shares in the company, valued at $1,421,784.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,149 shares of company stock worth $1,421,147. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NOC. TheStreet cut shares of Northrop Grumman from a “b+” rating to a “c+” rating in a research report on Thursday, January 25th. Royal Bank of Canada lifted their price target on Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price objective for the company in a research note on Monday, April 22nd. Robert W. Baird lifted their target price on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company increased their price objective on Northrop Grumman from $483.00 to $518.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $509.38.

Northrop Grumman Stock Performance

NYSE:NOC traded down $2.14 during mid-day trading on Wednesday, hitting $471.61. 793,155 shares of the company’s stock traded hands, compared to its average volume of 1,006,585. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $465.45 and a two-hundred day moving average of $465.24. The firm has a market capitalization of $69.79 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 1.93 and a beta of 0.34. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $496.89.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The business had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter last year, the company posted $5.50 earnings per share. Northrop Grumman’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts forecast that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business 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 1.59%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s payout ratio is presently 52.31%.

Northrop Grumman Company Profile

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.