Neumann Capital Management LLC Takes $308,000 Position in Northrop Grumman Co. (NYSE:NOC)

Neumann Capital Management LLC acquired a new position in Northrop Grumman Co. (NYSE:NOC) in the 1st quarter, Holdings Channel reports. The firm acquired 602 shares of the aerospace company’s stock, valued at approximately $308,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Northrop Grumman by 176.3% in the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company’s stock valued at $1,394,000 after acquiring an additional 1,895 shares during the period. Empowered Funds LLC increased its holdings in Northrop Grumman by 21.9% in the 4th quarter. Empowered Funds LLC now owns 12,196 shares of the aerospace company’s stock valued at $5,723,000 after purchasing an additional 2,193 shares during the last quarter. Savant Capital LLC increased its holdings in Northrop Grumman by 13.3% in the 4th quarter. Savant Capital LLC now owns 5,942 shares of the aerospace company’s stock valued at $2,788,000 after purchasing an additional 699 shares during the last quarter. Principle Wealth Partners LLC raised its position in Northrop Grumman by 6.1% in the fourth quarter. Principle Wealth Partners LLC now owns 1,899 shares of the aerospace company’s stock valued at $891,000 after purchasing an additional 110 shares during the period. Finally, Sapient Capital LLC lifted its stake in Northrop Grumman by 1.1% during the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after purchasing an additional 22 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $488.40 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The firm has a market capitalization of $70.29 billion, a P/E ratio of 17.23, a P/E/G ratio of 3.73 and a beta of 0.14. The company’s fifty day moving average price is $490.15 and its 200 day moving average price is $482.34.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. The firm had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $10.07 billion. As a group, sell-side analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be given a $2.31 dividend. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $9.24 annualized dividend and a yield of 1.89%. Northrop Grumman’s dividend payout ratio is 36.46%.

Analysts Set New Price Targets

Several research firms have recently commented on NOC. Truist Financial lowered their price target on Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Susquehanna lowered their target price on Northrop Grumman from $557.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley lifted their target price on Northrop Grumman from $580.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. Royal Bank of Canada cut their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $545.31.

Insider Buying and Selling

In other news, VP Roshan S. Roeder sold 991 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the completion of the sale, the vice president now directly owns 319 shares of the company’s stock, valued at approximately $156,310. This represents a 75.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,090 shares of company stock worth $533,853 in the last 90 days. Company insiders own 0.23% of the company’s stock.

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.