Johnson Investment Counsel Inc. Sells 64,436 Shares of Northrop Grumman Corporation (NYSE:NOC)

Johnson Investment Counsel Inc. lowered its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 57.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,143 shares of the aerospace company's stock after selling 64,436 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Northrop Grumman were worth $24,138,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in NOC. Vanguard Group Inc. lifted its position in Northrop Grumman by 0.5% during the 4th 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 in the last quarter. Capital International Investors increased its position in Northrop Grumman by 5.9% in 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 acquiring an additional 461,307 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Northrop Grumman by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 4,164,700 shares of the aerospace company's stock worth $1,954,452,000 after acquiring an additional 23,808 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Northrop Grumman by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company's stock worth $1,417,850,000 after purchasing an additional 21,903 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Northrop Grumman by 4.1% during the fourth 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 during the last quarter. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Down 1.9%

NOC opened at $494.16 on Thursday. The firm's fifty day moving average is $490.53 and its two-hundred day moving average is $482.80. The firm has a market cap of $71.12 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 5.50 and a beta of 0.14. Northrop Grumman Corporation has a twelve month low of $422.69 and a twelve month high of $555.57. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.95.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $10.07 billion. Equities research analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a yield of 1.87%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date was Monday, June 2nd. Northrop Grumman's dividend payout ratio is presently 36.46%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NOC shares. Argus upgraded shares of Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Susquehanna dropped their target price on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley upped their price target on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $424.00 to $521.00 in a research report on Friday, April 11th. Finally, Truist Financial dropped their price objective on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $548.33.

Insiders Place Their Bets

In other news, VP Roshan S. Roeder sold 991 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total transaction of $485,590.00. Following the completion of the sale, the vice president now owns 319 shares of the company's stock, valued at $156,310. This represents a 75.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $495.00, for a total transaction of $1,856,250.00. Following the completion of the sale, the chief executive officer now directly owns 209,102 shares in the company, valued at $103,505,490. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,569 shares of company stock worth $8,322,279. Company insiders own 0.23% of the company's stock.

Northrop Grumman Company 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.

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