Northrop Grumman Co. (NYSE:NOC) Shares Sold by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. reduced its position in shares of Northrop Grumman Co. (NYSE:NOCFree Report) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 258 shares of the aerospace company’s stock after selling 64 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Northrop Grumman were worth $123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. London Co. of Virginia bought a new position in Northrop Grumman during the 3rd quarter valued at $165,786,000. Invesco Ltd. boosted its stake in Northrop Grumman by 74.7% during the 3rd quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock valued at $517,028,000 after purchasing an additional 502,060 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Northrop Grumman by 19.7% during the 4th quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock valued at $7,731,000 after purchasing an additional 2,723 shares in the last quarter. Phraction Management LLC bought a new position in Northrop Grumman during the 3rd quarter valued at $677,000. Finally, Cerity Partners LLC boosted its stake in Northrop Grumman by 2,801.7% during the 4th quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock valued at $154,720,000 after purchasing an additional 319,109 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Up 0.6 %

Shares of NYSE:NOC traded up $2.96 during midday trading on Wednesday, hitting $474.86. 556,377 shares of the stock were exchanged, compared to its average volume of 974,105. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. Northrop Grumman Co. has a 52-week low of $414.56 and a 52-week high of $496.89. The business’s fifty day simple moving average is $468.46 and its two-hundred day simple moving average is $465.13. The company has a market capitalization of $70.27 billion, a PE ratio of 33.21, a P/E/G ratio of 1.93 and a beta of 0.34.

Northrop Grumman (NYSE:NOCGet Free Report) 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 return on equity of 24.09% and a net margin of 5.38%. The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same period last year, the company earned $5.50 earnings per share. Northrop Grumman’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.74%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date of this dividend is Friday, May 24th. Northrop Grumman’s dividend payout ratio (DPR) is currently 52.31%.

Analyst Ratings Changes

NOC has been the subject of several research reports. TheStreet lowered Northrop Grumman from a “b+” rating to a “c+” rating in a research note on Thursday, January 25th. Robert W. Baird raised their price objective on Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Susquehanna raised their price objective on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research note on Friday, April 26th. Royal Bank of Canada raised their price objective on Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Finally, StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $514.33.

Read Our Latest Research Report on NOC

Northrop Grumman Company Profile

(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.

Further Reading

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

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