Mizuho Securities USA LLC Sells 2,085 Shares of Northrop Grumman Corporation (NYSE:NOC)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Northrop Grumman by 16.1%, selling 2,085 shares during the first quarter, bringing its total to 10,895 shares worth approximately $5.58 million.
• Northrop Grumman recently reported earnings per share (EPS) of $7.11, exceeding analyst expectations by $0.27, along with a net revenue of $10.35 billion for the quarter.
• The company has announced an increase in its quarterly dividend from $2.06 to $2.31, resulting in an annualized dividend of $9.24 and a yield of 1.6%.

Mizuho Securities USA LLC cut its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 16.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,895 shares of the aerospace company's stock after selling 2,085 shares during the quarter. Mizuho Securities USA LLC's holdings in Northrop Grumman were worth $5,578,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in Northrop Grumman in the first quarter valued at about $27,000. Banque Cantonale Vaudoise acquired a new stake in Northrop Grumman in the first quarter valued at about $30,000. Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at about $32,000. Bellwether Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at about $33,000. Finally, Hollencrest Capital Management boosted its stake in shares of Northrop Grumman by 790.0% during the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $45,000 after purchasing an additional 79 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NOC. Bank of America lifted their price target on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Susquehanna lifted their price target on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price target on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein reissued a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Finally, 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 research note on Tuesday, July 22nd. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Northrop Grumman presently has a consensus rating of "Moderate Buy" and an average price target of $586.79.

Northrop Grumman Stock Up 0.2%

Shares of NYSE NOC traded up $1.24 during midday trading on Thursday, hitting $583.33. 289,137 shares of the stock traded hands, compared to its average volume of 999,969. The company has a market cap of $83.52 billion, a PE ratio of 21.51, a P/E/G ratio of 5.50 and a beta of 0.15. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $594.68. The business has a 50 day moving average price of $528.25 and a two-hundred day moving average price of $499.57. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

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

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a dividend of $2.31 per share. The ex-dividend date of this dividend 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 payout ratio is presently 34.06%.

Insider Buying and Selling

In related news, VP Thomas H. Jones sold 729 shares of Northrop Grumman stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Fleming sold 3,500 shares of Northrop Grumman stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $1,770,195.00. Following the transaction, the vice president directly owned 1,827 shares in the company, valued at approximately $924,041.79. The trade was a 65.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,536 shares of company stock worth $8,306,857 in the last ninety days. Corporate insiders own 0.23% of the company's stock.

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.