Cypress Funds LLC trimmed its holdings in Northrop Grumman (NYSE:NOC) by 4.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 81,000 shares of the aerospace company’s stock after selling 4,000 shares during the quarter. Northrop Grumman comprises approximately 4.2% of Cypress Funds LLC’s portfolio, making the stock its 12th biggest position. Cypress Funds LLC’s holdings in Northrop Grumman were worth $28,279,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOC. Icon Wealth Partners LLC bought a new stake in Northrop Grumman in the 4th quarter worth about $100,000. Truewealth LLC bought a new stake in shares of Northrop Grumman during the 4th quarter valued at about $110,000. Centaurus Financial Inc. bought a new stake in shares of Northrop Grumman during the 1st quarter valued at about $147,000. Optimum Investment Advisors bought a new stake in shares of Northrop Grumman during the 1st quarter valued at about $154,000. Finally, Crewe Advisors LLC bought a new stake in shares of Northrop Grumman during the 4th quarter valued at about $159,000. Institutional investors own 81.63% of the company’s stock.
Northrop Grumman opened at $331.36 on Tuesday, MarketBeat reports. Northrop Grumman has a twelve month low of $248.58 and a twelve month high of $360.88. The company has a debt-to-equity ratio of 1.87, a quick ratio of 2.45 and a current ratio of 2.52. The stock has a market cap of $57.38 billion, a PE ratio of 24.95, a P/E/G ratio of 2.26 and a beta of 0.78.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, April 25th. The aerospace company reported $4.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.63 by $0.58. Northrop Grumman had a return on equity of 35.83% and a net margin of 8.05%. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm earned $3.63 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. equities analysts forecast that Northrop Grumman will post 15.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Monday, June 4th will be given a dividend of $1.20 per share. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, June 1st. Northrop Grumman’s payout ratio is presently 33.13%.
In related news, VP Michael A. Hardesty sold 1,296 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $353.20, for a total value of $457,747.20. Following the transaction, the vice president now directly owns 6,677 shares of the company’s stock, valued at approximately $2,358,316.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Janis G. Pamiljans sold 1,568 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $354.30, for a total value of $555,542.40. Following the completion of the transaction, the vice president now directly owns 6,677 shares in the company, valued at $2,365,661.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,819 shares of company stock worth $1,336,891. Insiders own 0.62% of the company’s stock.
A number of equities research analysts have issued reports on NOC shares. Goldman Sachs downgraded Northrop Grumman from a “conviction-buy” rating to a “buy” rating and set a $395.00 price target for the company. in a research note on Tuesday, February 20th. Citigroup restated a “buy” rating and set a $405.00 price target on shares of Northrop Grumman in a research note on Monday, March 12th. Morgan Stanley boosted their price target on Northrop Grumman from $365.00 to $378.00 and gave the company an “equal weight” rating in a research note on Thursday, April 12th. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $386.00 price target for the company in a research note on Thursday, March 29th. Finally, Robert W. Baird restated a “buy” rating and set a $394.00 price target on shares of Northrop Grumman in a research note on Friday, January 26th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Northrop Grumman has a consensus rating of “Buy” and an average price target of $365.24.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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