Northrop Grumman Co. (NYSE:NOC) Stake Cut by Norman Fields Gottscho Capital Management LLC

Norman Fields Gottscho Capital Management LLC lowered its position in shares of Northrop Grumman Co. (NYSE:NOC) by 7.6% in the 1st quarter, Holdings Channel reports. The fund owned 2,415 shares of the aerospace company’s stock after selling 200 shares during the period. Northrop Grumman comprises 0.4% of Norman Fields Gottscho Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Norman Fields Gottscho Capital Management LLC’s holdings in Northrop Grumman were worth $1,237,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Northrop Grumman by 176.3% in the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company’s stock worth $1,394,000 after acquiring an additional 1,895 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Northrop Grumman by 1.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,760 shares of the aerospace company’s stock worth $826,000 after buying an additional 24 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Northrop Grumman by 43.7% in the 4th quarter. Pacer Advisors Inc. now owns 14,727 shares of the aerospace company’s stock worth $6,911,000 after purchasing an additional 4,477 shares during the last quarter. Foundations Investment Advisors LLC raised its position in shares of Northrop Grumman by 8.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,603 shares of the aerospace company’s stock valued at $752,000 after purchasing an additional 125 shares during the period. Finally, Perigon Wealth Management LLC lifted its position in Northrop Grumman by 5.5% during the 4th quarter. Perigon Wealth Management LLC now owns 2,685 shares of the aerospace company’s stock worth $1,292,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial cut their target price on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Thursday, April 24th. Royal Bank of Canada cut their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Susquehanna reduced their price objective on Northrop Grumman from $557.00 to $540.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $525.00 price target on shares of Northrop Grumman and gave the company an “overweight” rating in a research note on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and an average target price of $545.31.

Northrop Grumman Stock Performance

Shares of NYSE NOC opened at $475.66 on Thursday. The stock’s fifty day moving average price is $494.14 and its two-hundred day moving average price is $483.52. The firm has a market cap of $68.46 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 3.73 and a beta of 0.15. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. 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 (NYSE:NOC) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. The company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $10.07 billion. On average, equities analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be paid a $2.31 dividend. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Monday, June 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 36.46%.

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 464 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the transaction, the vice president now directly owns 245 shares in the company, valued at approximately $112,883.75. This represents a 65.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the sale, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,313 shares of company stock valued at $2,045,249. 0.23% of the stock is owned by insiders.

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.