Oakworth Capital Inc. boosted its holdings in shares of Northrop Grumman (NYSE:NOC) by 51.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 956 shares of the aerospace company’s stock after buying an additional 324 shares during the period. Oakworth Capital Inc.’s holdings in Northrop Grumman were worth $308,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of NOC. Icon Wealth Partners LLC acquired a new stake in Northrop Grumman during the fourth quarter worth $100,000. Truewealth LLC acquired a new stake in Northrop Grumman during the fourth quarter worth $110,000. Centaurus Financial Inc. acquired a new stake in Northrop Grumman during the first quarter worth $147,000. Crewe Advisors LLC acquired a new stake in Northrop Grumman during the fourth quarter worth $159,000. Finally, We Are One Seven LLC acquired a new stake in Northrop Grumman during the fourth quarter worth $166,000. Hedge funds and other institutional investors own 81.63% of the company’s stock.
A number of research firms have weighed in on NOC. Robert W. Baird reiterated a “buy” rating and set a $394.00 price target on shares of Northrop Grumman in a research note on Friday, January 26th. Zacks Investment Research downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Morgan Stanley restated an “equal weight” rating and issued a $365.00 target price (up previously from $336.00) on shares of Northrop Grumman in a research note on Friday, February 23rd. ValuEngine upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Argus boosted their target price on shares of Northrop Grumman to $375.00 and gave the company a “positive” rating in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $365.24.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, April 25th. The aerospace company reported $4.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.63 by $0.58. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.62 billion. Northrop Grumman had a net margin of 8.05% and a return on equity of 35.83%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.63 EPS. sell-side analysts forecast that Northrop Grumman will post 15.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Monday, June 4th will be given a dividend of $1.20 per share. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, June 1st. This represents a $4.80 annualized dividend and a yield of 1.46%. Northrop Grumman’s dividend payout ratio is 33.13%.
In related news, VP Michael A. Hardesty sold 1,296 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $353.20, for a total transaction of $457,747.20. Following the transaction, the vice president now owns 6,677 shares in the company, valued at approximately $2,358,316.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael A. Hardesty sold 2,941 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $351.06, for a total transaction of $1,032,467.46. Following the transaction, the vice president now owns 9,202 shares in the company, valued at approximately $3,230,454.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,760 shares of company stock worth $2,369,359. 0.62% of the stock is owned by corporate insiders.
Northrop Grumman Profile
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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