Oppenheimer & Co. Inc. Sells 2,790 Shares of Northrop Grumman Corporation (NYSE:NOC)

Oppenheimer & Co. Inc. lowered its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 9.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,739 shares of the aerospace company's stock after selling 2,790 shares during the period. Oppenheimer & Co. Inc.'s holdings in Northrop Grumman were worth $13,691,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Northrop Grumman by 55,522.3% in the first quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock valued at $778,336,000 after acquiring an additional 1,517,425 shares in the last quarter. Capital International Investors grew its position in shares of Northrop Grumman by 5.9% during the fourth quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company's stock worth $3,866,133,000 after purchasing an additional 461,307 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Northrop Grumman by 28.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company's stock valued at $952,962,000 after purchasing an additional 450,858 shares during the period. First Trust Advisors LP lifted its holdings in Northrop Grumman by 337.1% in the 4th quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company's stock worth $226,250,000 after purchasing an additional 371,814 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Northrop Grumman in the 4th quarter worth approximately $171,580,000. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Up 0.7%

Shares of NYSE NOC 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 firm's 50-day moving average price is $489.35 and its 200-day moving average price is $482.95. The stock has a market capitalization of $71.67 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 5.43 and a beta of 0.14.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). The company 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 research analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were paid a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a 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%.

Insiders Place Their Bets

In other news, VP Roshan S. Roeder sold 991 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the completion of the sale, the vice president now owns 319 shares in the company, valued at approximately $156,310. This trade represents a 75.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 209,102 shares in the company, valued at $103,505,490. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,569 shares of company stock valued at $8,322,279 over the last three months. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NOC. Susquehanna cut their price objective on shares of Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 target price on shares of Northrop Grumman and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Argus upgraded shares of Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. Royal Bank Of Canada decreased their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley increased their price objective on shares of Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Seven investment 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $553.43.

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.

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