Johnson Investment Counsel Inc. Sells 6,422 Shares of Northrop Grumman Co. (NYSE:NOC)

Johnson Investment Counsel Inc. lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 107,285 shares of the aerospace company’s stock after selling 6,422 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Northrop Grumman were worth $46,771,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Bogart Wealth LLC grew its holdings in Northrop Grumman by 14.1% during the first quarter. Bogart Wealth LLC now owns 170 shares of the aerospace company’s stock worth $81,000 after purchasing an additional 21 shares during the period. Turtle Creek Wealth Advisors LLC boosted its stake in shares of Northrop Grumman by 4.6% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 500 shares of the aerospace company’s stock worth $218,000 after acquiring an additional 22 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in shares of Northrop Grumman by 2.4% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 965 shares of the aerospace company’s stock worth $462,000 after acquiring an additional 23 shares during the last quarter. Capital Investment Advisors LLC raised its stake in Northrop Grumman by 1.1% in the 2nd quarter. Capital Investment Advisors LLC now owns 2,068 shares of the aerospace company’s stock valued at $902,000 after acquiring an additional 23 shares during the period. Finally, Renasant Bank lifted its holdings in Northrop Grumman by 3.3% during the 1st quarter. Renasant Bank now owns 743 shares of the aerospace company’s stock valued at $356,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Trading Down 0.8 %

NOC opened at $515.93 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. Northrop Grumman Co. has a twelve month low of $414.56 and a twelve month high of $528.76. The stock has a market capitalization of $76.35 billion, a price-to-earnings ratio of 36.08, a P/E/G ratio of 2.36 and a beta of 0.34. The company has a 50-day simple moving average of $483.37 and a 200 day simple moving average of $466.71.

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, topping the consensus estimate of $5.93 by $0.43. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business had revenue of $10.22 billion for the quarter, compared to analyst estimates of $10.02 billion. During the same quarter last year, the business posted $5.34 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts predict that Northrop Grumman Co. will post 25.14 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

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

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,846 shares of company stock valued at $1,393,028. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

NOC has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Wells Fargo & Company upped their target price on Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Morgan Stanley lifted their price target on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Sanford C. Bernstein lowered Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price objective on the stock. in a report on Friday, June 21st. Finally, StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Northrop Grumman has a consensus rating of “Hold” and a consensus price target 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.