Northrop Grumman Co. (NYSE:NOC) Stake Lessened by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP reduced its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,937 shares of the aerospace company’s stock after selling 426 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Northrop Grumman were worth $3,971,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Deutsche Bank AG boosted its stake in shares of Northrop Grumman by 31.2% during the fourth quarter. Deutsche Bank AG now owns 436,253 shares of the aerospace company’s stock valued at $133,886,000 after purchasing an additional 103,769 shares during the period. Jafra Capital Management LP purchased a new stake in Northrop Grumman in the fourth quarter worth about $1,617,000. Clearbridge Investments LLC lifted its stake in Northrop Grumman by 18.7% in the fourth quarter. Clearbridge Investments LLC now owns 1,856 shares of the aerospace company’s stock worth $570,000 after acquiring an additional 293 shares during the period. Ironvine Capital Partners LLC purchased a new stake in Northrop Grumman in the fourth quarter worth about $2,375,000. Finally, Advisor Group Inc. lifted its stake in Northrop Grumman by 7.2% in the fourth quarter. Advisor Group Inc. now owns 35,472 shares of the aerospace company’s stock worth $10,888,000 after acquiring an additional 2,372 shares during the period. 80.71% of the stock is owned by hedge funds and other institutional investors.

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Shares of NOC traded down $3.60 during mid-day trading on Monday, hitting $345.52. 1,041,578 shares of the company traded hands, compared to its average volume of 1,031,316. Northrop Grumman Co. has a 1-year low of $235.16 and a 1-year high of $359.43. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 2.04. The company has a market cap of $60,777.46, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data 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. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the prior year, the company posted $2.96 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. research analysts anticipate that Northrop Grumman Co. will post 15.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Monday, March 5th were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.27%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio is currently 33.13%.

In related news, VP Janis G. Pamiljans sold 1,568 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $354.30, for a total value of $555,542.40. Following the sale, the vice president now owns 6,677 shares in the company, valued at $2,365,661.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Denise M. Peppard sold 2,539 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $335.12, for a total value of $850,869.68. Following the completion of the sale, the vice president now owns 38,613 shares in the company, valued at approximately $12,939,988.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,344 shares of company stock worth $2,896,627. 0.70% of the stock is owned by insiders.

NOC has been the subject of a number of research reports. Jefferies Group raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Wednesday, February 14th. Royal Bank of Canada set a $389.00 price objective on shares of Northrop Grumman and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $386.00 price objective for the company in a research note on Thursday. Argus raised shares of Northrop Grumman to a “buy” rating in a research note on Wednesday, February 7th. Finally, Citigroup reiterated a “buy” rating and issued a $405.00 target price on shares of Northrop Grumman in a report on Monday, March 12th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $364.00.

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About Northrop Grumman

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.

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

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