Clark Capital Management Group Inc. lifted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,425 shares of the aerospace company’s stock after purchasing an additional 334 shares during the period. Clark Capital Management Group Inc.’s holdings in Northrop Grumman were worth $1,051,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of NOC. Ibex Wealth Advisors boosted its holdings in Northrop Grumman by 2.1% in the 4th quarter. Ibex Wealth Advisors now owns 7,330 shares of the aerospace company’s stock worth $2,259,000 after acquiring an additional 153 shares during the period. Clifford Swan Investment Counsel LLC boosted its holdings in Northrop Grumman by 0.6% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 26,398 shares of the aerospace company’s stock worth $8,102,000 after acquiring an additional 165 shares during the period. Monroe Bank & Trust MI boosted its holdings in Northrop Grumman by 16.1% in the 3rd quarter. Monroe Bank & Trust MI now owns 1,205 shares of the aerospace company’s stock worth $280,000 after acquiring an additional 167 shares during the period. BB&T Securities LLC boosted its holdings in Northrop Grumman by 2.4% in the 3rd quarter. BB&T Securities LLC now owns 7,147 shares of the aerospace company’s stock worth $2,056,000 after acquiring an additional 169 shares during the period. Finally, Tarbox Family Office Inc. raised its position in shares of Northrop Grumman by 27.3% in the 4th quarter. Tarbox Family Office Inc. now owns 834 shares of the aerospace company’s stock valued at $256,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
In other Northrop Grumman news, VP Denise M. Peppard sold 2,539 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $335.12, for a total value of $850,869.68. Following the sale, the vice president now directly owns 38,613 shares of the company’s stock, valued at $12,939,988.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael A. Hardesty sold 2,941 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $351.06, for a total value of $1,032,467.46. Following the completion of the sale, the vice president now directly owns 9,202 shares in the company, valued at $3,230,454.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,344 shares of company stock worth $2,896,627. Corporate insiders own 0.70% of the company’s stock.
Shares of Northrop Grumman Co. (NYSE:NOC) opened at $338.63 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.24 and a current ratio of 2.35. The stock has a market capitalization of $59,332.54, a P/E ratio of 29.52, a P/E/G ratio of 2.44 and a beta of 0.78. Northrop Grumman Co. has a 52-week low of $233.20 and a 52-week high of $359.43.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $0.07. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.34 billion. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.96 EPS. research analysts predict that Northrop Grumman Co. will post 15.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be given a dividend of $1.10 per share. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, March 2nd. Northrop Grumman’s dividend payout ratio is currently 38.36%.
A number of brokerages have issued reports on NOC. Citigroup reaffirmed a “buy” rating and issued a $405.00 target price on shares of Northrop Grumman in a research report on Monday, March 12th. ValuEngine raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Argus raised Northrop Grumman to a “buy” rating in a research report on Wednesday, February 7th. Royal Bank of Canada set a $389.00 target price on Northrop Grumman and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $394.00 target price on shares of Northrop Grumman in a research report on Friday, January 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Northrop Grumman presently has an average rating of “Buy” and a consensus price target of $358.64.
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Northrop Grumman Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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