Verdence Capital Advisors LLC Grows Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Verdence Capital Advisors LLC lifted its holdings in Northrop Grumman Co. (NYSE:NOC) by 4.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,432 shares of the aerospace company’s stock after purchasing an additional 59 shares during the period. Verdence Capital Advisors LLC’s holdings in Northrop Grumman were worth $670,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NOC. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter valued at about $29,000. Providence Capital Advisors LLC raised its holdings in Northrop Grumman by 400.0% in the third quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 80 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Northrop Grumman in the third quarter worth approximately $70,000. Rational Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter worth approximately $72,000. Finally, Venturi Wealth Management LLC increased its position in shares of Northrop Grumman by 16.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 165 shares of the aerospace company’s stock valued at $73,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $450.00 price objective (down from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. Robert W. Baird dropped their price objective on Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 26th. TheStreet lowered Northrop Grumman from a “b+” rating to a “c+” rating in a research report on Thursday, January 25th. Susquehanna lowered their price target on Northrop Grumman from $560.00 to $540.00 and set a “positive” rating for the company in a report on Friday, January 26th. Finally, Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $497.23.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $470.98 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.05. The company has a market cap of $69.80 billion, a PE ratio of 34.94, a P/E/G ratio of 1.86 and a beta of 0.35. The stock has a fifty day moving average price of $460.10 and a 200 day moving average price of $465.12. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $496.89.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.47. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.43 billion. During the same period in the prior year, the company posted $7.50 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts forecast that Northrop Grumman Co. will post 24.67 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were paid a $1.87 dividend. The ex-dividend date was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.59%. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

Insider Buying and Selling

In other news, CAO Michael A. Hardesty sold 955 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $430,103.35. Following the transaction, the chief accounting officer now directly owns 4,137 shares of the company’s stock, valued at approximately $1,863,180.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Kathryn G. Simpson sold 711 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total value of $322,239.42. Following the completion of the transaction, the vice president now directly owns 2,024 shares of the company’s stock, valued at approximately $917,317.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $430,103.35. Following the sale, the chief accounting officer now owns 4,137 shares in the company, valued at $1,863,180.69. The disclosure for this sale can be found here. Insiders have sold 3,149 shares of company stock valued at $1,421,147 over the last quarter. Company insiders own 0.22% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.