Parsons Capital Management Inc. RI Sells 30 Shares of Northrop Grumman Co. (NYSE:NOC)

Parsons Capital Management Inc. RI lessened its holdings in Northrop Grumman Co. (NYSE:NOCFree Report) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,003 shares of the aerospace company’s stock after selling 30 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Northrop Grumman were worth $470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter worth about $29,000. State of Wyoming lifted its position in Northrop Grumman by 76.5% during the 4th quarter. State of Wyoming now owns 60 shares of the aerospace company’s stock worth $33,000 after buying an additional 26 shares in the last quarter. IMA Wealth Inc. lifted its position in Northrop Grumman by 196.3% during the 2nd quarter. IMA Wealth Inc. now owns 80 shares of the aerospace company’s stock worth $36,000 after buying an additional 53 shares in the last quarter. Providence Capital Advisors LLC lifted its position in Northrop Grumman by 400.0% during the 3rd quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock worth $44,000 after buying an additional 80 shares in the last quarter. Finally, West Tower Group LLC acquired a new position in Northrop Grumman during the 2nd quarter worth about $48,000. Institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling

In other 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 directly owns 3,127 shares of the company’s stock, valued at approximately $1,421,784.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 directly owns 3,127 shares of the company’s stock, valued at approximately $1,421,784.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kathryn G. Simpson sold 711 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the transaction, the vice president now directly owns 2,024 shares of the company’s stock, valued at $917,317.28. The disclosure for this sale can be found here. In the last three months, insiders sold 3,149 shares of company stock valued at $1,421,147. 0.26% of the stock is owned by corporate insiders.

Northrop Grumman Stock Performance

Shares of NYSE:NOC opened at $466.36 on Wednesday. The company has a market capitalization of $69.97 billion, a price-to-earnings ratio of 34.60, a P/E/G ratio of 1.90 and a beta of 0.35. The firm’s 50 day simple moving average is $457.49 and its 200 day simple moving average is $462.60. 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 Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89.

Northrop Grumman (NYSE:NOCGet Free Report) last posted its earnings results on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.47. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.43 billion. During the same period in the prior year, the business earned $7.50 EPS. Northrop Grumman’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 24.67 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.60%. Northrop Grumman’s payout ratio is 55.49%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NOC shares. Susquehanna reduced their price target on shares of Northrop Grumman from $560.00 to $540.00 and set a “positive” rating on the stock in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating and cut their target price for the company from $541.00 to $473.00 in a research report on Friday, December 15th. Robert W. Baird cut their target price on shares of Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 26th. Royal Bank of Canada restated a “sector perform” rating and set a $450.00 target price (down from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. Finally, Wolfe Research downgraded shares of Northrop Grumman from a “peer perform” rating to an “underperform” rating and set a $450.00 target price on the stock. in a research report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $494.33.

Read Our Latest Stock Analysis on NOC

Northrop Grumman Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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