Wellington Shields Capital Management LLC maintained its position in shares of Northrop Grumman Corporation (NYSE:NOC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,110 shares of the aerospace company’s stock at the end of the first quarter. Wellington Shields Capital Management LLC’s holdings in Northrop Grumman Corporation were worth $4,069,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Horan Capital Management purchased a new position in Northrop Grumman Corporation during the first quarter worth approximately $115,000. Dubuque Bank & Trust Co. boosted its position in Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock worth $119,000 after buying an additional 9 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Northrop Grumman Corporation by 6.8% in the fourth quarter. Perigon Wealth Management LLC now owns 531 shares of the aerospace company’s stock worth $129,000 after buying an additional 34 shares in the last quarter. MV Capital Management Inc. boosted its position in Northrop Grumman Corporation by 0.3% in the third quarter. MV Capital Management Inc. now owns 618 shares of the aerospace company’s stock worth $132,000 after buying an additional 2 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Northrop Grumman Corporation by 12.4% in the first quarter. Quadrant Capital Group LLC now owns 590 shares of the aerospace company’s stock worth $132,000 after buying an additional 65 shares in the last quarter. 82.20% of the stock is owned by institutional investors and hedge funds.
Shares of Northrop Grumman Corporation (NOC) opened at 258.59 on Friday. The company has a market cap of $45.14 billion, a price-to-earnings ratio of 20.23 and a beta of 0.69. The stock has a 50 day moving average of $252.04 and a 200 day moving average of $241.96. Northrop Grumman Corporation has a 12-month low of $206.69 and a 12-month high of $262.43.
Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings results on Wednesday, April 26th. The aerospace company reported $3.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.73. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 38.20%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.03 earnings per share. Analysts forecast that Northrop Grumman Corporation will post $12.36 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Monday, June 5th will be issued a $1.00 dividend. This is a boost from Northrop Grumman Corporation’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $4.00 annualized dividend and a yield of 1.55%. Northrop Grumman Corporation’s dividend payout ratio (DPR) is 31.27%.
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A number of equities analysts recently commented on the stock. Vertical Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $254.00 to $270.00 in a research note on Wednesday, May 10th. Zacks Investment Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Thursday, April 13th. Vetr raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a research note on Thursday, March 2nd. Finally, Citigroup Inc. lowered shares of Northrop Grumman Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $253.80 to $185.08 in a report on Wednesday, March 1st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $251.51.
In related news, CEO Wesley G. Bush sold 33,976 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $244.74, for a total value of $8,315,286.24. Following the sale, the chief executive officer now owns 1 shares of the company’s stock, valued at $244.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher T. Jones sold 240 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $237.58, for a total transaction of $57,019.20. Following the completion of the sale, the vice president now directly owns 61,686 shares in the company, valued at approximately $14,655,359.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,894 shares of company stock worth $16,830,275. 0.70% of the stock is owned by corporate insiders.
Northrop Grumman Corporation Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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