Charter Trust Co. trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 8.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 670 shares of the aerospace company’s stock after selling 62 shares during the period. Charter Trust Co.’s holdings in Northrop Grumman were worth $244,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Solstein Capital LLC bought a new position in shares of Northrop Grumman in the first quarter worth about $25,000. Centerpoint Advisors LLC bought a new position in Northrop Grumman in the 2nd quarter valued at approximately $27,000. D Orazio & Associates Inc. increased its position in Northrop Grumman by 141.9% during the 2nd quarter. D Orazio & Associates Inc. now owns 75 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 44 shares during the period. North Star Investment Management Corp. increased its position in Northrop Grumman by 56.1% during the 2nd quarter. North Star Investment Management Corp. now owns 89 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 32 shares during the period. Finally, Certified Advisory Corp acquired a new stake in Northrop Grumman during the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.
Several analysts recently issued reports on NOC shares. Seaport Global Securities lifted their price target on shares of Northrop Grumman from $398.00 to $419.00 and gave the company a “buy” rating in a research report on Monday, July 19th. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $391.00 price objective on the stock in a research note on Tuesday, July 6th. Wells Fargo & Company lifted their target price on Northrop Grumman from $330.00 to $335.00 and gave the company an “underweight” rating in a report on Monday, August 2nd. Finally, Stifel Nicolaus raised Northrop Grumman from a “hold” rating to a “buy” rating and lifted their target price for the company from $350.00 to $475.00 in a report on Friday, June 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Northrop Grumman has an average rating of “Buy” and a consensus target price of $399.10.
NOC stock traded up $3.92 during trading on Wednesday, reaching $349.06. The stock had a trading volume of 4,212 shares, compared to its average volume of 915,633. The stock’s 50 day moving average is $360.97 and its two-hundred day moving average is $354.60. The company has a current ratio of 1.49, a quick ratio of 1.39 and a debt-to-equity ratio of 1.14. Northrop Grumman Co. has a 52 week low of $282.88 and a 52 week high of $379.03. The firm has a market cap of $55.89 billion, a PE ratio of 12.46, a PEG ratio of 1.59 and a beta of 0.84.
Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, July 29th. The aerospace company reported $6.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.75 by $0.67. The firm had revenue of $9.15 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Northrop Grumman had a return on equity of 39.32% and a net margin of 12.10%. On average, research analysts anticipate that Northrop Grumman Co. will post 24.83 EPS for the current year.
The business also recently announced a dividend, which was paid on Thursday, September 2nd. Stockholders of record on Monday, August 23rd were issued a $0.14 dividend. This represents a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, August 20th. Northrop Grumman’s dividend payout ratio (DPR) is 26.55%.
Northrop Grumman Profile
Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.
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