Capital Investment Counsel Inc Sells 40 Shares of Northrop Grumman Co. (NYSE:NOC)

Capital Investment Counsel Inc reduced its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,935 shares of the aerospace company’s stock after selling 40 shares during the quarter. Capital Investment Counsel Inc’s holdings in Northrop Grumman were worth $1,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Northrop Grumman during the fourth quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Northrop Grumman during the third quarter worth $29,000. Providence Capital Advisors LLC raised its position in Northrop Grumman by 400.0% during the third quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 80 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Northrop Grumman during the third quarter worth $70,000. Finally, Rational Advisors LLC bought a new position in shares of Northrop Grumman in the third quarter valued at about $72,000. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Price Performance

Shares of NOC traded up $4.18 during mid-day trading on Monday, reaching $484.63. The company had a trading volume of 62,696 shares, compared to its average volume of 995,060. The company’s 50 day simple moving average is $462.59 and its 200 day simple moving average is $465.72. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $496.89. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. The company has a market capitalization of $71.72 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 1.93 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $9.77 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business earned $5.50 EPS. Analysts expect that Northrop Grumman Co. will post 24.7 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were issued a $1.87 dividend. The ex-dividend date was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a yield of 1.54%. Northrop Grumman’s dividend payout ratio (DPR) is presently 52.31%.

Insider Activity at Northrop Grumman

In related news, CAO Michael A. Hardesty sold 955 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the transaction, the chief accounting officer now owns 4,137 shares in the company, valued at approximately $1,863,180.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total transaction of $95,482.80. Following the completion of the transaction, the chief accounting officer now owns 3,127 shares in the company, valued at approximately $1,421,784.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael A. Hardesty sold 955 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the transaction, the chief accounting officer now owns 4,137 shares of the company’s stock, valued at approximately $1,863,180.69. The disclosure for this sale can be found here. Insiders sold a total of 3,149 shares of company stock worth $1,421,147 in the last quarter. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NOC shares. Robert W. Baird increased their price objective on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday. TheStreet downgraded shares of Northrop Grumman from a “b+” rating to a “c+” rating in a research note on Thursday, January 25th. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada upped their price target on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, Susquehanna upped their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman currently has a consensus rating of “Hold” and an average target price of $503.00.

About Northrop Grumman

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.