Northrop Grumman Co. (NOC) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 7.3% during the 1st quarter, Holdings Channel reports. The firm owned 5,242 shares of the aerospace company’s stock after selling 414 shares during the quarter. Griffin Asset Management Inc.’s holdings in Northrop Grumman were worth $1,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc grew its stake in shares of Northrop Grumman by 1.3% during the third quarter. Vanguard Group Inc now owns 13,591,668 shares of the aerospace company’s stock valued at $4,313,588,000 after purchasing an additional 176,809 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Northrop Grumman by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,072,281 shares of the aerospace company’s stock valued at $1,242,203,000 after acquiring an additional 355,364 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Northrop Grumman by 4.9% in the fourth quarter. Macquarie Group Ltd. now owns 2,516,969 shares of the aerospace company’s stock valued at $616,406,000 after acquiring an additional 117,707 shares during the last quarter. Geode Capital Management LLC boosted its stake in Northrop Grumman by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 2,002,473 shares of the aerospace company’s stock valued at $489,450,000 after acquiring an additional 56,098 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Northrop Grumman by 44.3% in the fourth quarter. California Public Employees Retirement System now owns 820,741 shares of the aerospace company’s stock valued at $200,999,000 after acquiring an additional 251,945 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

NOC opened at $314.58 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $52.08 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.23 and a beta of 0.89. Northrop Grumman Co. has a twelve month low of $223.63 and a twelve month high of $340.14.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.59 by $0.47. The company had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.34 billion. Northrop Grumman had a net margin of 9.67% and a return on equity of 41.42%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the business posted $4.21 earnings per share. Research analysts predict that Northrop Grumman Co. will post 19.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Monday, June 3rd will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.20. This represents a $5.28 annualized dividend and a yield of 1.68%. Northrop Grumman’s dividend payout ratio (DPR) is 22.50%.

A number of brokerages have issued reports on NOC. ValuEngine raised shares of Northrop Grumman from a “sell” rating to a “hold” rating in a research note on Friday. Barclays raised their price objective on shares of Northrop Grumman from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 30th. Zacks Investment Research cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. Finally, Morgan Stanley raised their price objective on shares of Northrop Grumman from $305.00 to $308.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Northrop Grumman currently has a consensus rating of “Buy” and a consensus target price of $333.06.

In other Northrop Grumman news, CAO Michael A. Hardesty sold 259 shares of the stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $288.38, for a total value of $74,690.42. Following the sale, the chief accounting officer now directly owns 6,253 shares in the company, valued at $1,803,240.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Wesley G. Bush sold 50,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $291.59, for a total transaction of $14,579,500.00. Following the completion of the sale, the chairman now owns 46,275 shares in the company, valued at $13,493,327.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 166,697 shares of company stock worth $48,114,176. Company insiders own 0.45% of the company’s stock.

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

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