Channing Capital Management LLC Raises Holdings in Northrop Grumman Co. (NYSE:NOC)

Channing Capital Management LLC raised its holdings in Northrop Grumman Co. (NYSE:NOC) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,736 shares of the aerospace company’s stock after purchasing an additional 139 shares during the quarter. Channing Capital Management LLC’s holdings in Northrop Grumman were worth $5,494,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Wesbanco Bank Inc. boosted its stake in shares of Northrop Grumman by 1.2% during the third quarter. Wesbanco Bank Inc. now owns 1,782 shares of the aerospace company’s stock valued at $784,000 after acquiring an additional 21 shares during the last quarter. Ausdal Financial Partners Inc. grew its holdings in shares of Northrop Grumman by 4.4% during the fourth quarter. Ausdal Financial Partners Inc. now owns 524 shares of the aerospace company’s stock worth $245,000 after buying an additional 22 shares in the last quarter. Secure Asset Management LLC raised its position in shares of Northrop Grumman by 2.7% in the fourth quarter. Secure Asset Management LLC now owns 844 shares of the aerospace company’s stock valued at $395,000 after buying an additional 22 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Northrop Grumman by 16.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 165 shares of the aerospace company’s stock worth $73,000 after acquiring an additional 23 shares during the period. Finally, Tilia Fiduciary Partners Inc. grew its stake in Northrop Grumman by 3.3% in the 4th quarter. Tilia Fiduciary Partners Inc. now owns 727 shares of the aerospace company’s stock worth $340,000 after acquiring an additional 23 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Trading Down 0.3 %

Shares of NOC stock traded down $1.42 during mid-day trading on Monday, reaching $467.67. The company’s stock had a trading volume of 512,807 shares, compared to its average volume of 1,007,677. The company’s 50 day simple moving average is $464.96 and its 200-day simple moving average is $465.47. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $496.89. The firm has a market capitalization of $69.21 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 1.93 and a beta of 0.34.

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

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were given a dividend of $1.87 per share. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s payout ratio is 52.31%.

Insider Activity at Northrop Grumman

In related news, VP Kathryn G. Simpson sold 1,273 shares of Northrop Grumman stock in a transaction on Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $573,321.01. Following the completion of the sale, the vice president now owns 2,735 shares in the company, valued at $1,231,761.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Kathryn G. Simpson sold 1,273 shares of the business’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 $573,321.01. Following the completion of the sale, the vice president now owns 2,735 shares of the company’s stock, valued at $1,231,761.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,149 shares of company stock valued at $1,421,147. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the topic of several analyst reports. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Susquehanna raised their price target on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research note on Friday, April 26th. Robert W. Baird upped their price objective on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Royal Bank of Canada raised their target price on shares of Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Finally, Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price for the company in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $509.38.

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.