Foster Dykema Cabot & Partners LLC Cuts Stock Holdings in Northrop Grumman Corporation (NYSE:NOC)

Key Points

• Foster Dykema Cabot & Partners LLC reduced its stake in Northrop Grumman Corporation by 1.1%, now owning 42,364 shares worth approximately $21.7 million.
• Multiple institutional investors, including Charles Schwab Investment Management Inc. and Citizens Financial Group Inc. RI, increased their holdings in Northrop Grumman during the first quarter.
• Analysts have optimistic projections for Northrop Grumman, with price target increases and a consensus average rating of "Moderate Buy."

Foster Dykema Cabot & Partners LLC reduced its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,364 shares of the aerospace company's stock after selling 454 shares during the quarter. Northrop Grumman comprises approximately 1.7% of Foster Dykema Cabot & Partners LLC's portfolio, making the stock its 21st biggest holding. Foster Dykema Cabot & Partners LLC's holdings in Northrop Grumman were worth $21,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Northrop Grumman by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 846,828 shares of the aerospace company's stock worth $433,584,000 after purchasing an additional 14,365 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in Northrop Grumman by 53.1% in the 1st quarter. Citizens Financial Group Inc. RI now owns 13,156 shares of the aerospace company's stock worth $6,736,000 after buying an additional 4,562 shares during the last quarter. Roberts Glore & Co. Inc. IL boosted its stake in Northrop Grumman by 58.5% in the first quarter. Roberts Glore & Co. Inc. IL now owns 1,125 shares of the aerospace company's stock worth $576,000 after buying an additional 415 shares in the last quarter. Tidemark LLC grew its position in Northrop Grumman by 64.6% during the first quarter. Tidemark LLC now owns 163 shares of the aerospace company's stock valued at $84,000 after acquiring an additional 64 shares during the last quarter. Finally, Exencial Wealth Advisors LLC raised its stake in shares of Northrop Grumman by 2.5% during the first quarter. Exencial Wealth Advisors LLC now owns 4,975 shares of the aerospace company's stock worth $2,547,000 after acquiring an additional 120 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Northrop Grumman

In related news, VP Roshan S. Roeder sold 991 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the sale, the vice president owned 319 shares in the company, valued at $156,310. This represents a 75.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas H. Jones sold 729 shares of Northrop Grumman stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the transaction, the vice president owned 7,552 shares of the company's stock, valued at $3,819,575.04. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,536 shares of company stock valued at $8,306,857 over the last ninety days. Company insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOC shares. Susquehanna upped their price objective on shares of Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Royal Bank Of Canada lifted their price objective on Northrop Grumman from $600.00 to $625.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Barclays increased their target price on Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Finally, The Goldman Sachs Group raised Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $424.00 to $521.00 in a research note on Friday, April 11th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Northrop Grumman currently has an average rating of "Moderate Buy" and an average target price of $586.79.

Northrop Grumman Price Performance

Shares of NOC stock opened at $589.43 on Thursday. The business's fifty day moving average is $518.56 and its 200 day moving average is $496.63. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a market cap of $84.39 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 5.59 and a beta of 0.15. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $594.68.

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

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were issued a dividend of $2.31 per share. The ex-dividend date was Monday, June 2nd. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is 34.06%.

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.

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Corporation (NYSE:NOC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.