Northrop Grumman Co. (NYSE:NOC) Holdings Lowered by InterOcean Capital Group LLC

InterOcean Capital Group LLC lowered its stake in Northrop Grumman Co. (NYSE:NOC) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 517 shares of the aerospace company’s stock after selling 35 shares during the quarter. InterOcean Capital Group LLC’s holdings in Northrop Grumman were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOC. CoreCap Advisors LLC lifted its position in shares of Northrop Grumman by 47.1% in the 4th quarter. CoreCap Advisors LLC now owns 728 shares of the aerospace company’s stock valued at $341,000 after acquiring an additional 233 shares in the last quarter. Raymond James & Associates grew its stake in Northrop Grumman by 34.2% during the 4th quarter. Raymond James & Associates now owns 266,273 shares of the aerospace company’s stock valued at $124,653,000 after acquiring an additional 67,875 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at about $114,000. Pacer Advisors Inc. increased its holdings in shares of Northrop Grumman by 2.6% in the 4th quarter. Pacer Advisors Inc. now owns 9,653 shares of the aerospace company’s stock valued at $4,519,000 after purchasing an additional 249 shares during the period. Finally, Simon Quick Advisors LLC lifted its position in Northrop Grumman by 13.9% in the 4th quarter. Simon Quick Advisors LLC now owns 688 shares of the aerospace company’s stock worth $322,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NYSE NOC opened at $473.02 on Friday. The stock has a market capitalization of $70.00 billion, a PE ratio of 32.90, a P/E/G ratio of 2.06 and a beta of 0.33. The stock has a 50-day simple moving average of $441.27 and a 200 day simple moving average of $455.43. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. Northrop Grumman Co. has a twelve month low of $414.56 and a twelve month high of $496.89.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating the consensus estimate of $5.95 by $0.41. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The company had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $10.02 billion. During the same period in the prior year, the business earned $5.34 earnings per share. Northrop Grumman’s revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts anticipate that Northrop Grumman Co. will post 24.71 EPS for the current year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were issued a dividend of $2.06 per share. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date was Friday, May 24th. This represents a $8.24 annualized dividend and a dividend yield of 1.74%. Northrop Grumman’s payout ratio is presently 57.62%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOC. Susquehanna increased their price objective on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Robert W. Baird boosted their price target on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Wells Fargo & Company raised their price objective on shares of Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a research report on Friday. BTIG Research assumed coverage on shares of Northrop Grumman in a research report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price for the company. Finally, 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of “Hold” and a consensus price target of $509.71.

Northrop Grumman Company 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.