Gilman Hill Asset Management LLC Lowers Stock Position in Northrop Grumman Co. (NYSE:NOC)

Gilman Hill Asset Management LLC lowered its position in shares of Northrop Grumman Co. (NYSE:NOC) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,400 shares of the aerospace company’s stock after selling 265 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Northrop Grumman were worth $2,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOC. Cibc World Market Inc. lifted its position in Northrop Grumman by 59.4% during the first quarter. Cibc World Market Inc. now owns 7,390 shares of the aerospace company’s stock valued at $3,305,000 after buying an additional 2,753 shares during the period. Vontobel Holding Ltd. raised its position in shares of Northrop Grumman by 41.4% in the 1st quarter. Vontobel Holding Ltd. now owns 3,445 shares of the aerospace company’s stock worth $1,541,000 after purchasing an additional 1,008 shares during the last quarter. Prudential PLC purchased a new position in shares of Northrop Grumman in the 1st quarter worth about $1,514,000. Sequoia Financial Advisors LLC raised its position in shares of Northrop Grumman by 21.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,390 shares of the aerospace company’s stock worth $622,000 after purchasing an additional 247 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its position in shares of Northrop Grumman by 11.0% in the 1st quarter. Zions Bancorporation N.A. now owns 1,890 shares of the aerospace company’s stock worth $845,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In other news, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total transaction of $95,482.80. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Kathryn G. Simpson sold 711 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total transaction of $322,239.42. Following the sale, the vice president now owns 2,024 shares in the company, valued at approximately $917,317.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael A. Hardesty sold 210 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the sale, the chief accounting officer now owns 3,127 shares in the company, valued at approximately $1,421,784.36. The disclosure for this sale can be found here. Insiders have sold 3,149 shares of company stock valued at $1,421,147 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOC. StockNews.com lowered Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Robert W. Baird decreased their target price on Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $450.00 target price (down previously from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft lowered Northrop Grumman from a “buy” rating to a “hold” rating and decreased their target price for the stock from $541.00 to $473.00 in a research report on Friday, December 15th. Finally, Wolfe Research lowered Northrop Grumman from a “peer perform” rating to an “underperform” rating and set a $450.00 target price for the company. in a research report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $494.33.

Northrop Grumman Stock Performance

Shares of NYSE:NOC traded up $0.64 during mid-day trading on Monday, reaching $462.39. 540,772 shares of the company traded hands, compared to its average volume of 992,625. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $496.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.05. The firm has a market cap of $69.38 billion, a PE ratio of 34.30, a PEG ratio of 1.85 and a beta of 0.34. The company’s 50 day moving average price is $457.82 and its 200-day moving average price is $459.55.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 25th. The aerospace company reported $6.27 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $10.43 billion. During the same period in the prior year, the company posted $7.50 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts expect that Northrop Grumman Co. will post 24.66 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were paid a $1.87 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 annualized dividend and a yield of 1.62%. Northrop Grumman’s payout ratio is 55.49%.

Northrop Grumman 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.