Sentry Investment Management LLC reduced its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 8.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 10,192 shares of the aerospace company’s stock after selling 904 shares during the period. Sentry Investment Management LLC’s holdings in Northrop Grumman were worth $2,748,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of NOC. Laurel Wealth Advisors LLC purchased a new position in Northrop Grumman during the 4th quarter worth $27,000. Trustcore Financial Services LLC purchased a new stake in shares of Northrop Grumman in the first quarter valued at about $27,000. Truvestments Capital LLC purchased a new stake in shares of Northrop Grumman in the first quarter valued at about $28,000. Sontag Advisory LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at about $29,000. Finally, Legacy Advisors LLC purchased a new stake in shares of Northrop Grumman in the first quarter valued at about $30,000. 83.67% of the stock is currently owned by institutional investors.
Shares of NYSE NOC traded down $2.98 during midday trading on Tuesday, hitting $311.60. The company had a trading volume of 516,553 shares, compared to its average volume of 977,055. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 1.59. Northrop Grumman Co. has a twelve month low of $223.63 and a twelve month high of $340.14. The stock has a market capitalization of $53.40 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.23 and a beta of 0.89.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $5.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.59 by $0.47. Northrop Grumman had a net margin of 9.67% and a return on equity of 41.42%. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $8.34 billion. During the same quarter last year, the business earned $4.21 earnings per share. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. Equities research analysts expect that Northrop Grumman Co. will post 19.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Monday, June 3rd will be paid a $1.32 dividend. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, May 31st. This represents a $5.28 annualized dividend and a dividend yield of 1.69%. Northrop Grumman’s dividend payout ratio (DPR) is 22.50%.
NOC has been the topic of several analyst reports. Credit Suisse Group reaffirmed a “buy” rating on shares of Northrop Grumman in a report on Thursday, January 31st. Zacks Investment Research downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Morgan Stanley lifted their target price on shares of Northrop Grumman from $305.00 to $308.00 and gave the company an “equal weight” rating in a report on Wednesday, February 13th. Cowen reaffirmed a “hold” rating and issued a $300.00 target price on shares of Northrop Grumman in a report on Thursday, January 31st. Finally, Goldman Sachs Group downgraded shares of Northrop Grumman from a “conviction-buy” rating to a “buy” rating in a report on Friday, February 1st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $333.06.
In other Northrop Grumman news, Chairman Wesley G. Bush sold 86,500 shares of Northrop Grumman stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $287.28, for a total transaction of $24,849,720.00. Following the completion of the transaction, the chairman now owns 39,937 shares in the company, valued at $11,473,101.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael A. Hardesty sold 259 shares of Northrop Grumman stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $288.38, for a total transaction of $74,690.42. Following the transaction, the chief accounting officer now owns 6,253 shares of the company’s stock, valued at approximately $1,803,240.14. The disclosure for this sale can be found here. Insiders sold 166,697 shares of company stock valued at $48,114,176 in the last quarter. Company insiders own 0.45% of the company’s stock.
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.
Read More: How a Back-End Load Mutual Fund Works
Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC).
Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.