Regent Peak Wealth Advisors LLC Lowers Position in Northrop Grumman Co. (NYSE:NOC)

Regent Peak Wealth Advisors LLC cut its stake in Northrop Grumman Co. (NYSE:NOC) by 35.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 469 shares of the aerospace company’s stock after selling 263 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Northrop Grumman were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter worth approximately $31,000. Wood Tarver Financial Group LLC bought a new position in shares of Northrop Grumman in the fourth quarter valued at approximately $32,000. Bellwether Advisors LLC bought a new position in shares of Northrop Grumman in the fourth quarter valued at approximately $33,000. Stonebridge Financial Group LLC bought a new position in shares of Northrop Grumman in the fourth quarter valued at approximately $42,000. Finally, Rakuten Securities Inc. grew its holdings in shares of Northrop Grumman by 291.7% in the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 70 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Trading Up 0.3%

NYSE:NOC opened at $489.55 on Friday. The company has a market cap of $70.46 billion, a P/E ratio of 17.27, a P/E/G ratio of 3.73 and a beta of 0.14. The stock’s fifty day moving average price is $491.04 and its two-hundred day moving average price is $482.38. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.27). The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be given a dividend of $2.31 per share. The ex-dividend date is Monday, June 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.89%. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. Northrop Grumman’s dividend payout ratio is currently 36.46%.

Insiders Place Their Bets

In related news, VP Roshan S. Roeder sold 991 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the sale, the vice president now owns 319 shares in the company, valued at approximately $156,310. This trade represents a 75.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,057 shares of company stock worth $517,733 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NOC shares. Argus raised Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Morgan Stanley upped their target price on Northrop Grumman from $580.00 to $625.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Royal Bank of Canada reduced their target price on Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Truist Financial reduced their target price on Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group raised Northrop Grumman from a “sell” rating to a “neutral” rating and increased their price objective for the company from $424.00 to $521.00 in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $545.31.

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.