NorthCrest Asset Manangement LLC Boosts Stock Position in Northrop Grumman Co. (NYSE:NOC)

NorthCrest Asset Manangement LLC raised its holdings in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 12.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,873 shares of the aerospace company's stock after buying an additional 529 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Northrop Grumman were worth $2,495,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter worth about $31,000. Wood Tarver Financial Group LLC bought a new position in shares of Northrop Grumman during the 4th quarter worth approximately $32,000. Bellwether Advisors LLC acquired a new position in Northrop Grumman in the 4th quarter valued at about $33,000. Stonebridge Financial Group LLC bought a new position in Northrop Grumman during the 4th quarter worth $42,000. Finally, Rakuten Securities Inc. raised its position in shares of Northrop Grumman by 291.7% in the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock valued at $44,000 after buying an additional 70 shares in the last quarter. Institutional investors own 83.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group reduced their price target on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 price objective on shares of Northrop Grumman and gave the stock an "overweight" rating in a report on Thursday, April 24th. The Goldman Sachs Group raised Northrop Grumman from a "sell" rating to a "neutral" rating and upped their price target for the company from $424.00 to $521.00 in a research report on Friday, April 11th. Royal Bank of Canada decreased their price target on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Argus raised shares of Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $545.31.

Insider Transactions at Northrop Grumman

In other news, VP Roshan S. Roeder sold 991 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total transaction of $485,590.00. Following the transaction, the vice president now owns 319 shares of the company's stock, valued at $156,310. This represents a 75.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kathy J. Warden sold 7,500 shares of Northrop Grumman stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $3,793,275.00. Following the sale, the chief executive officer now owns 201,602 shares in the company, valued at $101,964,243.54. This trade represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,340 shares of company stock worth $6,183,378 over the last quarter. Company insiders own 0.23% of the company's stock.

Northrop Grumman Price Performance

NYSE:NOC traded up $20.09 during midday trading on Friday, hitting $517.22. 1,842,813 shares of the stock were exchanged, compared to its average volume of 886,029. The business has a 50-day moving average price of $490.98 and a two-hundred day moving average price of $482.62. The company has a market capitalization of $74.44 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 3.73 and a beta of 0.14. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.27). The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $10.07 billion. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Sell-side analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be issued a dividend of $2.31 per share. The ex-dividend date is Monday, June 2nd. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.79%. Northrop Grumman's payout ratio is presently 36.46%.

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.