Northrop Grumman Corporation (NYSE:NOC) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel cut its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 9.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 53,278 shares of the aerospace company's stock after selling 5,470 shares during the period. Carnegie Investment Counsel's holdings in Northrop Grumman were worth $25,661,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. IMA Advisory Services Inc. purchased a new position in shares of Northrop Grumman during the 1st quarter worth $27,000. Wood Tarver Financial Group LLC purchased a new position in Northrop Grumman during the fourth quarter valued at $32,000. Bellwether Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter valued at about $33,000. Hollencrest Capital Management increased its position in Northrop Grumman by 790.0% in the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after buying an additional 79 shares in the last quarter. Finally, HWG Holdings LP bought a new position in shares of Northrop Grumman in the first quarter worth about $46,000. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insider Transactions at Northrop Grumman

In other news, VP Robert J. Fleming sold 3,500 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $1,770,195.00. Following the completion of the sale, the vice president owned 1,827 shares of the company's stock, valued at $924,041.79. This trade represents a 65.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kathy J. Warden sold 7,500 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the completion of the transaction, the chief executive officer directly owned 201,602 shares of the company's stock, valued at $101,964,243.54. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,569 shares of company stock worth $8,323,150. Corporate insiders own 0.23% of the company's stock.

Northrop Grumman Trading Up 0.2%

NOC stock traded up $1.04 during mid-day trading on Friday, reaching $569.52. 635,710 shares of the stock traded hands, compared to its average volume of 771,872. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $576.86. The stock has a market capitalization of $81.54 billion, a PE ratio of 20.99, a PEG ratio of 6.18 and a beta of 0.15. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.84 and a current ratio of 1.04. The business has a 50-day moving average price of $501.34 and a two-hundred day moving average price of $490.55.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter last year, the firm earned $6.36 earnings per share. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were given a dividend of $2.31 per share. This is an increase from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date was Monday, June 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.62%. Northrop Grumman's dividend payout ratio is presently 34.06%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NOC. JPMorgan Chase & Co. boosted their price objective on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday. Wells Fargo & Company restated an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday. Morgan Stanley upped their target price on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Robert W. Baird raised their price target on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, UBS Group cut their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Northrop Grumman presently has an average rating of "Moderate Buy" and a consensus target price of $569.33.

Northrop Grumman Profile

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.