Narwhal Capital Management Sells 2,296 Shares of Northrop Grumman Corporation (NYSE:NOC)

Narwhal Capital Management lowered its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 12.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,641 shares of the aerospace company's stock after selling 2,296 shares during the quarter. Narwhal Capital Management's holdings in Northrop Grumman were worth $8,520,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NOC. Whipplewood Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at approximately $31,000. Wood Tarver Financial Group LLC acquired a new position in Northrop Grumman in the 4th quarter valued at about $32,000. Bellwether Advisors LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $33,000. HWG Holdings LP acquired a new stake in shares of Northrop Grumman in the first quarter valued at approximately $46,000. Finally, Rakuten Securities Inc. increased its holdings in Northrop Grumman by 291.7% in the 4th quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock valued at $44,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Trading Up 0.7%

Shares of Northrop Grumman stock opened at $497.92 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. Northrop Grumman Corporation has a 12-month low of $422.69 and a 12-month high of $555.57. The company has a market cap of $71.67 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 5.43 and a beta of 0.14. The company's 50-day moving average price is $489.35 and its 200-day moving average price is $482.95.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). The firm had revenue of $9.47 billion for the quarter, compared to analysts' expectations of $10.07 billion. Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. On average, equities analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were issued a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.86%. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date was Monday, June 2nd. Northrop Grumman's payout ratio is presently 36.46%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NOC. Morgan Stanley boosted their price objective on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Royal Bank Of Canada lowered their price objective on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Susquehanna dropped their price objective on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial decreased their target price on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $525.00 price target on shares of Northrop Grumman and gave the stock an "overweight" rating in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $553.43.

Insider Activity

In other Northrop Grumman news, VP Thomas H. Jones sold 729 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $368,706.33. Following the completion of the sale, the vice president now directly owns 7,552 shares in the company, valued at $3,819,575.04. This represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the completion of the transaction, the vice president now owns 319 shares in the company, valued at approximately $156,310. This represents a 75.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,569 shares of company stock valued at $8,322,279. Corporate insiders own 0.23% of the company's stock.

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.

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