Calton & Associates Inc. acquired a new stake in Northrop Grumman Co. (NYSE:NOC – Get Rating) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 473 shares of the aerospace company’s stock, valued at approximately $258,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Wesbanco Bank Inc. lifted its position in Northrop Grumman by 72.5% in the 4th quarter. Wesbanco Bank Inc. now owns 1,777 shares of the aerospace company’s stock valued at $970,000 after acquiring an additional 747 shares in the last quarter. Godsey & Gibb Inc. acquired a new stake in Northrop Grumman in the 4th quarter valued at $109,000. Mcdonald Partners LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at $220,000. LifeSteps Financial Inc. acquired a new stake in Northrop Grumman in the 4th quarter valued at $208,000. Finally, Congress Asset Management Co. MA increased its stake in Northrop Grumman by 16,363.8% in the 4th quarter. Congress Asset Management Co. MA now owns 151,302 shares of the aerospace company’s stock valued at $82,552,000 after buying an additional 150,383 shares during the last quarter. 84.32% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
NOC has been the topic of several recent research reports. Cowen lowered shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $478.00 price target on the stock. in a research note on Friday, January 27th. Wells Fargo & Company lifted their price target on shares of Northrop Grumman from $460.00 to $470.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 31st. Wolfe Research lowered shares of Northrop Grumman from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 27th. Bank of America lowered their price target on shares of Northrop Grumman from $700.00 to $655.00 in a research note on Sunday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Northrop Grumman from $465.00 to $400.00 and set a “neutral” rating on the stock in a research note on Friday, January 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $508.13.
Northrop Grumman Stock Up 2.4 %
Northrop Grumman (NYSE:NOC – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The aerospace company reported $7.50 EPS for the quarter, beating analysts’ consensus estimates of $6.57 by $0.93. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $9.64 billion. Northrop Grumman had a net margin of 13.38% and a return on equity of 28.29%. Northrop Grumman’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.00 EPS. On average, analysts forecast that Northrop Grumman Co. will post 22.04 earnings per share for the current year.
Northrop Grumman Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Monday, February 27th were issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Friday, February 24th. Northrop Grumman’s dividend payout ratio (DPR) is presently 21.96%.
Insider Transactions at Northrop Grumman
In other news, VP David T. Perry sold 3,999 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $469.65, for a total transaction of $1,878,130.35. Following the completion of the sale, the vice president now owns 8,717 shares of the company’s stock, valued at approximately $4,093,939.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP David T. Perry sold 3,999 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $469.65, for a total value of $1,878,130.35. Following the completion of the transaction, the vice president now owns 8,717 shares of the company’s stock, valued at approximately $4,093,939.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mark A. Caylor sold 2,810 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $467.58, for a total transaction of $1,313,899.80. Following the completion of the transaction, the vice president now directly owns 16,240 shares of the company’s stock, valued at approximately $7,593,499.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,534 shares of company stock valued at $4,934,622. Company insiders own 0.25% of the company’s stock.
Northrop Grumman Profile
Northrop Grumman Corp. engages in the provision of advanced aircraft systems. It operates through the following segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment is involved in the design, development, production, integration, sustainment, and modernization of advanced aircraft systems for the U.S.
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