Wedge Capital Management L L P NC Sells 30,861 Shares of Northrop Grumman Co. (NYSE:NOC)

Wedge Capital Management L L P NC cut its stake in Northrop Grumman Co. (NYSE:NOC) by 21.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,141 shares of the aerospace company’s stock after selling 30,861 shares during the period. Northrop Grumman makes up approximately 1.1% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 10th biggest position. Wedge Capital Management L L P NC’s holdings in Northrop Grumman were worth $56,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Northrop Grumman by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company’s stock worth $5,949,556,000 after buying an additional 56,807 shares during the last quarter. Capital International Investors boosted its stake in shares of Northrop Grumman by 5.9% during the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company’s stock valued at $3,866,133,000 after buying an additional 461,307 shares during the period. Wellington Management Group LLP boosted its stake in shares of Northrop Grumman by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 4,164,700 shares of the aerospace company’s stock valued at $1,954,452,000 after buying an additional 23,808 shares during the period. Geode Capital Management LLC raised its holdings in shares of Northrop Grumman by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company’s stock valued at $1,417,850,000 after purchasing an additional 21,903 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Northrop Grumman by 4.1% during the 4th quarter. FMR LLC now owns 2,807,223 shares of the aerospace company’s stock valued at $1,317,402,000 after purchasing an additional 109,308 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Price Performance

Shares of NOC stock opened at $489.55 on Friday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The stock has a market cap of $70.46 billion, a PE ratio of 17.27, a PEG ratio of 3.73 and a beta of 0.14. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The firm’s 50 day moving average price is $491.04 and its two-hundred day moving average price is $482.38.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). The firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be given a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.06. The ex-dividend date of this dividend is Monday, June 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 36.46%.

Insider Activity at Northrop Grumman

In related news, VP Roshan S. Roeder sold 991 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the sale, the vice president now directly owns 319 shares of the company’s stock, valued at approximately $156,310. The trade was a 75.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 1,057 shares of company stock valued at $517,733. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of recent research reports. Royal Bank of Canada cut their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Susquehanna cut their price objective on shares of Northrop Grumman from $557.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group raised shares of Northrop Grumman from a “sell” rating to a “neutral” rating and upped their target price for the company from $424.00 to $521.00 in a research note on Friday, April 11th. UBS Group lowered their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley upped their price objective on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $545.31.

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.