WealthBridge Investment Counsel Inc. Sells 50 Shares of Northrop Grumman Co. (NYSE:NOC)

WealthBridge Investment Counsel Inc. trimmed its stake in Northrop Grumman Co. (NYSE:NOC) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,905 shares of the aerospace company’s stock after selling 50 shares during the period. Northrop Grumman comprises about 2.1% of WealthBridge Investment Counsel Inc.’s investment portfolio, making the stock its 26th biggest position. WealthBridge Investment Counsel Inc.’s holdings in Northrop Grumman were worth $5,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Federated Hermes Inc. raised its position in Northrop Grumman by 117.4% in the third quarter. Federated Hermes Inc. now owns 2,237 shares of the aerospace company’s stock worth $985,000 after purchasing an additional 1,208 shares in the last quarter. Gotham Asset Management LLC raised its stake in Northrop Grumman by 30.7% during the third quarter. Gotham Asset Management LLC now owns 5,062 shares of the aerospace company’s stock worth $2,228,000 after acquiring an additional 1,188 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Northrop Grumman by 385.8% during the third quarter. Schonfeld Strategic Advisors LLC now owns 14,524 shares of the aerospace company’s stock worth $6,393,000 after acquiring an additional 11,534 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Northrop Grumman by 7.4% during the third quarter. Lazard Asset Management LLC now owns 12,058 shares of the aerospace company’s stock valued at $5,307,000 after acquiring an additional 833 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Northrop Grumman by 21.0% during the 3rd quarter. AQR Capital Management LLC now owns 103,348 shares of the aerospace company’s stock worth $45,493,000 after purchasing an additional 17,918 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 0.1 %

Shares of NOC traded down $0.28 during midday trading on Thursday, hitting $437.09. The stock had a trading volume of 303,984 shares, compared to its average volume of 961,376. The company has a 50 day simple moving average of $453.86 and a two-hundred day simple moving average of $458.59. Northrop Grumman Co. has a twelve month low of $414.56 and a twelve month high of $496.89. The firm has a market cap of $64.68 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 2.04 and a beta of 0.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The company had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same period last year, the business earned $5.50 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts anticipate that Northrop Grumman Co. will post 24.7 EPS for the current year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were given a $2.06 dividend. The ex-dividend date was Friday, May 24th. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s payout ratio is currently 57.62%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NOC. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target for the company in a report on Monday, April 22nd. Wells Fargo & Company upped their price target on shares of Northrop Grumman from $483.00 to $518.00 in a research report on Tuesday, June 18th. Royal Bank of Canada raised their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Jefferies Financial Group cut their price target on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research note on Tuesday, June 18th. Finally, Susquehanna lifted their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Northrop Grumman presently has an average rating of “Hold” and an average target price of $510.36.

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.