Murphy Capital Management Inc. Sells 150 Shares of Northrop Grumman Co. (NYSE:NOC)

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Murphy Capital Management Inc. trimmed its position in Northrop Grumman Co. (NYSE:NOC) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,957 shares of the aerospace company’s stock after selling 150 shares during the quarter. Murphy Capital Management Inc.’s holdings in Northrop Grumman were worth $1,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new position in Northrop Grumman in the 2nd quarter valued at $26,000. Massey Quick Simon & CO. LLC acquired a new position in Northrop Grumman in the 2nd quarter valued at $27,000. Meridian Wealth Management LLC acquired a new position in Northrop Grumman in the 1st quarter valued at $29,000. Virtus ETF Advisers LLC acquired a new position in Northrop Grumman in the 2nd quarter valued at $30,000. Finally, Kavar Capital Partners LLC acquired a new position in Northrop Grumman in the 2nd quarter valued at $36,000. 83.09% of the stock is currently owned by hedge funds and other institutional investors.

NOC opened at $362.22 on Friday. The firm has a market cap of $62.20 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 1.51 and a beta of 0.80. Northrop Grumman Co. has a 52-week low of $223.63 and a 52-week high of $383.89. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.15 and a current ratio of 1.25. The business’s fifty day moving average is $367.89 and its 200-day moving average is $326.44.

Northrop Grumman (NYSE:NOC) last released its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.64 by $0.42. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.41 billion. During the same period in the prior year, the firm posted $4.50 EPS. Northrop Grumman’s quarterly revenue was up 18.8% on a year-over-year basis. On average, research analysts predict that Northrop Grumman Co. will post 19.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Monday, September 9th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.28 annualized dividend and a dividend yield of 1.46%. Northrop Grumman’s dividend payout ratio is currently 24.75%.

In related news, CEO Kathy J. Warden sold 6,837 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the completion of the sale, the chief executive officer now directly owns 99,002 shares in the company, valued at approximately $34,993,246.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher T. Jones sold 5,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $353.19, for a total value of $1,765,950.00. Following the sale, the vice president now owns 67,422 shares of the company’s stock, valued at $23,812,776.18. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate insiders.

A number of brokerages have commented on NOC. Morgan Stanley upped their price objective on Northrop Grumman from $418.00 to $437.00 and gave the company an “overweight” rating in a report on Thursday. ValuEngine lowered Northrop Grumman from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Barclays set a $415.00 target price on Northrop Grumman and gave the stock a “buy” rating in a report on Tuesday. UBS Group increased their target price on Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Bank of America reissued a “buy” rating and set a $405.00 target price (up from $355.00) on shares of Northrop Grumman in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. Northrop Grumman presently has an average rating of “Buy” and a consensus price target of $353.87.

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

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