Thoroughbred Financial Services LLC Acquires 74 Shares of Northrop Grumman Co. (NOC)

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Thoroughbred Financial Services LLC grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 3.0% in the first quarter, Holdings Channel reports. The institutional investor owned 2,547 shares of the aerospace company’s stock after buying an additional 74 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Northrop Grumman were worth $687,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NOC. Laurel Wealth Advisors LLC acquired a new stake in Northrop Grumman during the fourth quarter worth about $27,000. Truvestments Capital LLC acquired a new stake in Northrop Grumman during the first quarter worth about $28,000. Sontag Advisory LLC acquired a new stake in Northrop Grumman during the fourth quarter worth about $29,000. Legacy Advisors LLC acquired a new stake in Northrop Grumman during the first quarter worth about $30,000. Finally, Athena Capital Advisors LLC acquired a new stake in Northrop Grumman during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Shares of NYSE NOC traded up $7.83 during midday trading on Thursday, hitting $303.47. The company’s stock had a trading volume of 399,699 shares, compared to its average volume of 969,433. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.10 and a current ratio of 1.18. Northrop Grumman Co. has a 1 year low of $223.63 and a 1 year high of $340.14. The firm has a market cap of $50.17 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.19 and a beta of 0.89.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Monday, June 3rd will be paid a $1.32 dividend. The ex-dividend date is Friday, May 31st. This represents a $5.28 dividend on an annualized basis and a yield of 1.74%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.20. Northrop Grumman’s payout ratio is currently 22.50%.

In other Northrop Grumman news, Chairman Wesley G. Bush sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $291.59, for a total transaction of $14,579,500.00. Following the sale, the chairman now owns 46,275 shares of the company’s stock, valued at $13,493,327.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Janis G. Pamiljans sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $285.12, for a total transaction of $712,800.00. Following the sale, the vice president now directly owns 6,732 shares in the company, valued at approximately $1,919,427.84. The disclosure for this sale can be found here. Insiders sold 169,197 shares of company stock valued at $48,826,976 in the last quarter. 0.45% of the stock is owned by insiders.

NOC has been the subject of several recent analyst reports. Bank of America restated a “buy” rating and set a $355.00 price objective (down from $360.00) on shares of Northrop Grumman in a research report on Friday, February 1st. Goldman Sachs Group cut shares of Northrop Grumman from a “conviction-buy” rating to a “buy” rating in a research report on Friday, February 1st. Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. Argus restated a “buy” rating on shares of Northrop Grumman in a research report on Friday, February 1st. Finally, Drexel Hamilton set a $335.00 target price on shares of Northrop Grumman and gave the stock a “buy” rating in a research note on Saturday, February 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Northrop Grumman has an average rating of “Buy” and an average target price of $338.82.

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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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Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC).

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

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