Rikoon Group LLC Acquires Shares of 1,211 Northrop Grumman Co. (NOC)

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Rikoon Group LLC acquired a new position in shares of Northrop Grumman Co. (NYSE:NOC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,211 shares of the aerospace company’s stock, valued at approximately $418,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Icon Wealth Partners LLC bought a new position in shares of Northrop Grumman during the fourth quarter worth about $100,000. Truewealth LLC bought a new position in shares of Northrop Grumman during the fourth quarter worth about $110,000. Centaurus Financial Inc. bought a new position in shares of Northrop Grumman during the first quarter worth about $147,000. Optimum Investment Advisors bought a new position in shares of Northrop Grumman during the first quarter worth about $154,000. Finally, We Are One Seven LLC bought a new position in shares of Northrop Grumman during the fourth quarter worth about $166,000. Institutional investors own 81.25% of the company’s stock.

NOC has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 target price for the company in a report on Monday, June 11th. Citigroup reiterated a “buy” rating and issued a $405.00 target price on shares of Northrop Grumman in a report on Monday, March 12th. ValuEngine upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $365.00 target price (up from $336.00) on shares of Northrop Grumman in a report on Friday, February 23rd. Finally, Sanford C. Bernstein lowered their target price on Northrop Grumman from $369.00 to $352.00 and set a “market perform” rating for the company in a report on Thursday, April 26th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Northrop Grumman presently has a consensus rating of “Buy” and a consensus price target of $363.88.

Northrop Grumman traded down $4.27, reaching $307.81, during mid-day trading on Thursday, Marketbeat Ratings reports. The stock had a trading volume of 10,069 shares, compared to its average volume of 1,016,023. The company has a debt-to-equity ratio of 1.87, a quick ratio of 2.45 and a current ratio of 2.52. Northrop Grumman Co. has a fifty-two week low of $252.82 and a fifty-two week high of $360.88. The stock has a market capitalization of $54.73 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 1.98 and a beta of 0.76.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, April 25th. The aerospace company reported $4.21 EPS for the quarter, beating the Zacks’ consensus estimate of $3.63 by $0.58. Northrop Grumman had a return on equity of 35.83% and a net margin of 8.05%. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the firm posted $3.63 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. research analysts forecast that Northrop Grumman Co. will post 16.44 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 20th. Shareholders of record on Monday, June 4th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, June 1st. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.10. Northrop Grumman’s dividend payout ratio (DPR) is 36.14%.

In other Northrop Grumman news, VP Janis G. Pamiljans sold 955 shares of the firm’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $338.85, for a total value of $323,601.75. Following the completion of the sale, the vice president now owns 10,466 shares of the company’s stock, valued at $3,546,404.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.62% of the company’s stock.

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

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