Estabrook Capital Management Trims Position in Northrop Grumman Co. (NYSE:NOC)

Estabrook Capital Management lessened its stake in Northrop Grumman Co. (NYSE:NOCFree Report) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,236 shares of the aerospace company’s stock after selling 415 shares during the period. Estabrook Capital Management’s holdings in Northrop Grumman were worth $4,792,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in Northrop Grumman during the 4th quarter worth about $283,114,000. Invesco Ltd. grew its holdings in Northrop Grumman by 74.7% during the 3rd quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock worth $517,028,000 after acquiring an additional 502,060 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Northrop Grumman by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,488,412 shares of the aerospace company’s stock worth $1,975,754,000 after acquiring an additional 410,736 shares in the last quarter. London Co. of Virginia bought a new position in Northrop Grumman during the 3rd quarter worth about $165,786,000. Finally, Cerity Partners LLC grew its holdings in Northrop Grumman by 2,801.7% during the 4th quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock worth $154,720,000 after acquiring an additional 319,109 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock traded down $0.25 during trading hours on Monday, reaching $450.52. 571,024 shares of the company’s stock were exchanged, compared to its average volume of 987,429. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $496.89. The company has a market capitalization of $66.67 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 2.10 and a beta of 0.35. The business has a fifty day moving average of $467.25 and a two-hundred day moving average of $464.74. 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 (NYSE:NOCGet Free Report) last released its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same quarter in the prior year, the firm earned $5.50 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, May 24th. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s dividend payout ratio (DPR) is 57.62%.

Analyst Ratings Changes

Several research analysts have issued reports on NOC shares. Wells Fargo & Company increased their target price on shares of Northrop Grumman from $483.00 to $518.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Susquehanna increased their target price on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target on the stock in a report on Monday, April 22nd. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Robert W. Baird raised their price target on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Northrop Grumman presently has an average rating of “Hold” and a consensus target price of $514.33.

View Our Latest Analysis on NOC

About Northrop Grumman

(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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