SFE Investment Counsel Trims Holdings in Northrop Grumman Co. (NYSE:NOC)

SFE Investment Counsel lowered its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 8.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 773 shares of the aerospace company’s stock after selling 70 shares during the period. SFE Investment Counsel’s holdings in Northrop Grumman were worth $337,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NOC. Gulf International Bank UK Ltd lifted its holdings in Northrop Grumman by 1,402.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock worth $6,186,000 after buying an additional 12,065 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth approximately $870,000. Norden Group LLC purchased a new position in Northrop Grumman in the first quarter worth approximately $778,000. Fisher Asset Management LLC grew its holdings in Northrop Grumman by 7,574.5% during the 4th quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock worth $57,879,000 after acquiring an additional 122,026 shares in the last quarter. Finally, Red Mountain Financial LLC purchased a new stake in shares of Northrop Grumman in the 4th quarter valued at approximately $264,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

NYSE NOC opened at $515.43 on Friday. The business’s 50 day moving average is $478.36 and its two-hundred day moving average is $465.36. The stock has a market capitalization of $76.28 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.40 and a beta of 0.32. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $528.76.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The company had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $5.34 EPS. Research analysts expect that Northrop Grumman Co. will post 25.15 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 57.62%.

Insider Activity at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the sale, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the transaction, the vice president now directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,846 shares of company stock valued at $1,393,028. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and boosted their target price for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Sanford C. Bernstein lowered shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target on the stock. in a research note on Friday, June 21st. UBS Group upped their target price on Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays raised their target price on shares of Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, BTIG Research assumed coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of “Hold” and an average target price of $523.20.

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.