Narwhal Capital Management Trims Stock Holdings in Northrop Grumman Corporation (NYSE:NOC)

Narwhal Capital Management lessened its holdings in Northrop Grumman Corporation (NYSE:NOC) by 12.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,641 shares of the aerospace company’s stock after selling 2,296 shares during the quarter. Narwhal Capital Management’s holdings in Northrop Grumman were worth $8,520,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $31,000. Wood Tarver Financial Group LLC bought a new position in shares of Northrop Grumman in the 4th quarter worth approximately $32,000. Bellwether Advisors LLC purchased a new stake in Northrop Grumman in the 4th quarter worth $33,000. Rakuten Securities Inc. grew its position in shares of Northrop Grumman by 291.7% during the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 70 shares in the last quarter. Finally, HWG Holdings LP bought a new position in Northrop Grumman in the 1st quarter worth approximately $46,000. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOC has been the subject of a number of research reports. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Wall Street Zen lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Thursday, April 24th. The Goldman Sachs Group upgraded Northrop Grumman from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $424.00 to $521.00 in a research report on Friday, April 11th. Susquehanna cut their price target on shares of Northrop Grumman from $557.00 to $540.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley upped their price objective on Northrop Grumman from $580.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Northrop Grumman Stock Up 0.7%

Shares of NOC stock opened at $497.92 on Monday. The stock’s 50-day simple moving average is $489.35 and its 200-day simple moving average is $482.95. The firm has a market capitalization of $71.67 billion, a PE ratio of 19.65, a P/E/G ratio of 5.43 and a beta of 0.14. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.95. Northrop Grumman Corporation has a fifty-two week low of $422.69 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. The firm had revenue of $9.47 billion during the quarter, compared to analyst estimates of $10.07 billion. Equities analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a $2.31 dividend. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a yield of 1.86%. The ex-dividend date was Monday, June 2nd. Northrop Grumman’s dividend payout ratio is currently 36.46%.

Insider Buying and Selling at Northrop Grumman

In related news, 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 completion of the sale, the chief executive officer now owns 209,102 shares of the company’s stock, valued at approximately $103,505,490. This represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Fleming sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the completion of the transaction, the vice president now directly owns 1,827 shares in the company, valued at $924,041.79. This trade represents a 65.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,569 shares of company stock worth $8,322,279. Corporate insiders own 0.23% of the company’s stock.

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.