Foster Dykema Cabot & Partners LLC Decreases Stock Position in Northrop Grumman Corporation (NYSE:NOC)

Foster Dykema Cabot & Partners LLC cut its holdings in Northrop Grumman Corporation (NYSE:NOC) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,364 shares of the aerospace company’s stock after selling 454 shares during the quarter. Northrop Grumman accounts for approximately 1.7% of Foster Dykema Cabot & Partners LLC’s holdings, making the stock its 21st largest position. Foster Dykema Cabot & Partners LLC’s holdings in Northrop Grumman were worth $21,691,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. IMA Advisory Services Inc. purchased a new stake in shares of Northrop Grumman during the first quarter valued at $27,000. Banque Cantonale Vaudoise bought a new position in Northrop Grumman during the 1st quarter valued at about $30,000. Wood Tarver Financial Group LLC bought a new position in Northrop Grumman during the 4th quarter valued at about $32,000. Bellwether Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter valued at about $33,000. Finally, Hollencrest Capital Management grew its stake in shares of Northrop Grumman by 790.0% in the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company’s stock worth $45,000 after acquiring an additional 79 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on NOC. 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. Robert W. Baird increased their price target on Northrop Grumman from $547.00 to $565.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price objective on Northrop Grumman from $600.00 to $625.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, April 24th. Finally, Truist Financial reissued a “buy” rating and issued a $625.00 target price (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and an average target price of $586.79.

Insiders Place Their Bets

In related news, VP Roshan S. Roeder sold 991 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the transaction, the vice president directly owned 319 shares of the company’s stock, valued at approximately $156,310. The trade was a 75.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert J. Fleming sold 3,500 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the sale, the vice president directly owned 1,827 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders have sold 16,536 shares of company stock worth $8,306,857. Company insiders own 0.23% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $589.43 on Thursday. The company has a market capitalization of $84.39 billion, a P/E ratio of 21.73, a P/E/G ratio of 5.59 and a beta of 0.15. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $594.68. The firm’s 50 day simple moving average is $518.56 and its two-hundred day simple moving average is $496.63. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Northrop Grumman (NYSE:NOC) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.84 by $0.27. The company had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. Northrop Grumman’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.36 EPS. Research analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a dividend of $2.31 per share. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 34.06%.

Northrop Grumman Company 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.