Baker Tilly Wealth Management LLC lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,686 shares of the aerospace company’s stock after selling 80 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Northrop Grumman were worth $613,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of NOC. Solstein Capital LLC bought a new position in shares of Northrop Grumman in the 1st quarter worth approximately $25,000. Centerpoint Advisors LLC bought a new position in shares of Northrop Grumman in the 2nd quarter worth approximately $27,000. North Star Investment Management Corp. lifted its stake in shares of Northrop Grumman by 56.1% in the 2nd quarter. North Star Investment Management Corp. now owns 89 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 32 shares during the period. Certified Advisory Corp bought a new position in shares of Northrop Grumman in the 1st quarter worth approximately $33,000. Finally, Emerson Wealth Management LLC bought a new position in shares of Northrop Grumman in the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.
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Several equities analysts have recently weighed in on the stock. Susquehanna Bancshares increased their price objective on shares of Northrop Grumman from $350.00 to $409.00 and gave the stock a “positive” rating in a research note on Friday, April 30th. Wells Fargo & Company raised their target price on shares of Northrop Grumman from $330.00 to $335.00 and gave the stock an “underweight” rating in a research note on Monday, August 2nd. Susquehanna raised their target price on shares of Northrop Grumman from $350.00 to $409.00 and gave the stock a “positive” rating in a research note on Friday, April 30th. Seaport Global Securities raised their target price on shares of Northrop Grumman from $398.00 to $419.00 and gave the stock a “buy” rating in a research note on Monday, July 19th. Finally, Stifel Nicolaus upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and raised their target price for the stock from $350.00 to $475.00 in a research note on Friday, June 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $399.10.
In other Northrop Grumman news, VP Mary D. Petryszyn sold 892 shares of Northrop Grumman stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $358.65, for a total transaction of $319,915.80. Following the completion of the transaction, the vice president now directly owns 12,991 shares of the company’s stock, valued at $4,659,222.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas H. Jones sold 235 shares of Northrop Grumman stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $370.00, for a total transaction of $86,950.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,597 shares of company stock valued at $576,700. 0.25% of the stock is currently owned by insiders.
Northrop Grumman stock opened at $361.09 on Friday. The company has a market capitalization of $57.81 billion, a PE ratio of 13.03, a P/E/G ratio of 1.63 and a beta of 0.85. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.39 and a current ratio of 1.49. Northrop Grumman Co. has a 1 year low of $282.88 and a 1 year high of $379.03. The firm’s 50 day moving average is $365.75.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, July 29th. The aerospace company reported $6.42 earnings per share for the quarter, beating analysts’ consensus estimates of $5.75 by $0.67. Northrop Grumman had a net margin of 12.10% and a return on equity of 39.32%. Sell-side analysts expect that Northrop Grumman Co. will post 24.8 earnings per share for the current fiscal year.
The firm also recently announced a dividend, which will be paid on Thursday, September 2nd. Investors of record on Monday, August 23rd will be issued a $0.14 dividend. This represents a dividend yield of 0.15%. The ex-dividend date is Friday, August 20th. Northrop Grumman’s dividend payout ratio (DPR) is presently 26.55%.
Northrop Grumman Profile
Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.
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