Verdence Capital Advisors LLC Grows Holdings in Northrop Grumman Corporation (NYSE:NOC)

Verdence Capital Advisors LLC grew its stake in Northrop Grumman Corporation (NYSE:NOC) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,525 shares of the aerospace company’s stock after purchasing an additional 132 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Northrop Grumman were worth $781,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NOC. Wood Tarver Financial Group LLC purchased a new stake in shares of Northrop Grumman in the 4th quarter valued at approximately $32,000. Bellwether Advisors LLC acquired a new position in Northrop Grumman during the 4th quarter worth approximately $33,000. HWG Holdings LP acquired a new position in shares of Northrop Grumman in the 1st quarter valued at $46,000. Ball & Co Wealth Management Inc. acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $47,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Northrop Grumman in the 1st quarter valued at $47,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $518.83 on Friday. The business’s 50-day simple moving average is $492.64 and its 200 day simple moving average is $487.29. The stock has a market cap of $74.68 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 6.22 and a beta of 0.15. Northrop Grumman Corporation has a 12-month low of $426.24 and a 12-month high of $555.57. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

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

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were issued a dividend of $2.31 per share. This is a positive change from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Monday, June 2nd. Northrop Grumman’s dividend payout ratio is 36.46%.

Insider Buying and Selling

In related news, VP Thomas H. Jones sold 729 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $368,706.33. Following the sale, the vice president directly owned 7,552 shares of the company’s stock, valued at $3,819,575.04. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert J. Fleming sold 3,500 shares of Northrop Grumman stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $1,770,195.00. Following the sale, the vice president directly owned 1,827 shares in the company, valued at $924,041.79. The trade was a 65.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,569 shares of company stock worth $8,323,150 over the last three months. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

NOC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. Royal Bank Of Canada dropped their target price on shares of Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Northrop Grumman in a research note on Monday. Susquehanna decreased their target price on shares of Northrop Grumman from $557.00 to $540.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley lifted their price target on shares of Northrop Grumman from $580.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $550.00.

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.