WASHINGTON TRUST Co Increases Position in Northrop Grumman Co. (NYSE:NOC)

WASHINGTON TRUST Co lifted its holdings in Northrop Grumman Co. (NYSE:NOC) by 43.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,289 shares of the aerospace company’s stock after buying an additional 392 shares during the period. WASHINGTON TRUST Co’s holdings in Northrop Grumman were worth $604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOC. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $29,000. State of Wyoming lifted its position in shares of Northrop Grumman by 76.5% during the 4th quarter. State of Wyoming now owns 60 shares of the aerospace company’s stock valued at $33,000 after buying an additional 26 shares during the last quarter. IMA Wealth Inc. raised its position in shares of Northrop Grumman by 196.3% in the second quarter. IMA Wealth Inc. now owns 80 shares of the aerospace company’s stock valued at $36,000 after purchasing an additional 53 shares during the period. Providence Capital Advisors LLC lifted its stake in shares of Northrop Grumman by 400.0% during the 3rd quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock valued at $44,000 after buying an additional 80 shares in the last quarter. Finally, West Tower Group LLC purchased a new stake in shares of Northrop Grumman during the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock traded up $0.78 during trading hours on Thursday, reaching $478.14. The company’s stock had a trading volume of 244,155 shares, compared to its average volume of 940,601. The stock has a market cap of $71.74 billion, a P/E ratio of 35.58, a P/E/G ratio of 1.89 and a beta of 0.34. Northrop Grumman Co. has a one year low of $414.56 and a one year high of $496.89. The firm has a 50 day moving average price of $457.07 and a 200-day moving average price of $461.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.05.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.47. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.43 billion. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $7.50 EPS. On average, analysts predict that Northrop Grumman Co. will post 24.67 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were paid a dividend of $1.87 per share. The ex-dividend date was Friday, February 23rd. This represents a $7.48 annualized dividend and a dividend yield of 1.56%. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

Insider Buying and Selling at Northrop Grumman

In other news, VP Kathryn G. Simpson sold 1,273 shares of the 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 sale, the vice president now owns 2,735 shares in the company, valued at $1,231,761.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Kathryn G. Simpson sold 1,273 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the completion of the sale, the vice president now directly owns 2,735 shares in the company, valued at $1,231,761.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Michael A. Hardesty sold 210 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total transaction of $95,482.80. Following the sale, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,149 shares of company stock worth $1,421,147. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOC. StockNews.com cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Susquehanna cut their price target on shares of Northrop Grumman from $560.00 to $540.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Wolfe Research lowered shares of Northrop Grumman from a “peer perform” rating to an “underperform” rating and set a $450.00 target price for the company. in a report on Thursday, December 14th. Robert W. Baird decreased their target price on shares of Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $450.00 target price (down previously from $515.00) on shares of Northrop Grumman in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $494.33.

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.