Palladium Partners LLC Sells 41 Shares of Northrop Grumman Co. (NYSE:NOC)

Palladium Partners LLC reduced its position in Northrop Grumman Co. (NYSE:NOC) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,789 shares of the aerospace company’s stock after selling 41 shares during the quarter. Palladium Partners LLC’s holdings in Northrop Grumman were worth $1,991,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NOC. Harvest Group Wealth Management LLC grew its position in shares of Northrop Grumman by 250.0% during the 3rd quarter. Harvest Group Wealth Management LLC now owns 70 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Northrop Grumman during the third quarter worth about $28,000. OLD Second National Bank of Aurora bought a new position in Northrop Grumman in the 4th quarter worth about $31,000. Prime Capital Investment Advisors LLC bought a new position in Northrop Grumman in the 3rd quarter worth about $35,000. Finally, Quest Capital Management Inc. ADV bought a new position in Northrop Grumman in the 3rd quarter worth about $38,000. 83.20% of the stock is owned by institutional investors.

In other Northrop Grumman news, CFO Kenneth L. Bedingfield sold 4,611 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $367.33, for a total value of $1,693,758.63. Following the completion of the sale, the chief financial officer now directly owns 35,394 shares of the company’s stock, valued at $13,001,278.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mary D. Petryszyn sold 3,921 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $362.27, for a total transaction of $1,420,460.67. Following the sale, the vice president now owns 6,713 shares of the company’s stock, valued at $2,431,918.51. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

NOC has been the subject of a number of research analyst reports. TheStreet downgraded Northrop Grumman from a “b-” rating to a “c+” rating in a research report on Tuesday, December 24th. ValuEngine cut shares of Northrop Grumman from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Morgan Stanley raised their target price on shares of Northrop Grumman from $437.00 to $449.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Barclays reaffirmed a “buy” rating and issued a $455.00 target price on shares of Northrop Grumman in a research note on Thursday, January 23rd. Finally, Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $367.00 target price for the company in a research report on Monday, December 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $387.20.

Shares of NYSE NOC traded up $2.98 during trading hours on Friday, reaching $370.98. 32,470 shares of the stock traded hands, compared to its average volume of 1,015,643. The company has a market capitalization of $61.69 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 0.95 and a beta of 0.79. The company has a quick ratio of 1.05, a current ratio of 1.13 and a debt-to-equity ratio of 1.60. Northrop Grumman Co. has a 52-week low of $263.29 and a 52-week high of $385.01. The company’s 50-day simple moving average is $369.52 and its two-hundred day simple moving average is $360.56.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $5.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.77 by $0.84. Northrop Grumman had a return on equity of 39.51% and a net margin of 6.64%. The business had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.84 billion. During the same quarter in the prior year, the firm earned $4.93 earnings per share. Northrop Grumman’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 23.07 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Monday, February 24th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.42%. Northrop Grumman’s payout ratio is 24.89%.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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