Kestra Private Wealth Services LLC Raises Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Kestra Private Wealth Services LLC boosted its holdings in Northrop Grumman Co. (NYSE:NOC) by 6.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,871 shares of the aerospace company’s stock after acquiring an additional 1,090 shares during the period. Kestra Private Wealth Services LLC’s holdings in Northrop Grumman were worth $8,366,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Northrop Grumman by 3.7% during the 4th quarter. Van ECK Associates Corp now owns 20,349 shares of the aerospace company’s stock valued at $9,526,000 after purchasing an additional 726 shares during the last quarter. Birchcreek Wealth Management LLC bought a new position in Northrop Grumman in the 4th quarter worth approximately $218,000. Choreo LLC bought a new position in Northrop Grumman in the 4th quarter worth approximately $685,000. Eagle Wealth Strategies LLC bought a new position in Northrop Grumman in the 4th quarter worth approximately $468,000. Finally, Silver Oak Securities Incorporated boosted its stake in Northrop Grumman by 11.7% in the 4th quarter. Silver Oak Securities Incorporated now owns 516 shares of the aerospace company’s stock worth $241,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TheStreet downgraded Northrop Grumman from a “b+” rating to a “c+” rating in a research note on Thursday, January 25th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price for the company in a research report on Monday, April 22nd. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday. Wells Fargo & Company increased their target price on Northrop Grumman from $483.00 to $518.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Susquehanna increased their target price on Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Hold” and a consensus target price of $509.38.

Insiders Place Their Bets

In related news, CAO Michael A. Hardesty sold 210 shares of the firm’s stock in a transaction dated 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 owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Kathryn G. Simpson sold 711 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the sale, the vice president now owns 2,024 shares of the company’s stock, valued at $917,317.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael A. Hardesty sold 210 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 3,149 shares of company stock worth $1,421,147 over the last quarter. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Trading Down 0.1 %

NYSE:NOC traded down $0.44 during midday trading on Tuesday, hitting $485.78. 171,194 shares of the company traded hands, compared to its average volume of 993,600. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 1.04. The firm’s fifty day moving average is $463.30 and its 200-day moving average is $465.78. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $496.89. The firm has a market capitalization of $71.89 billion, a P/E ratio of 33.89, a P/E/G ratio of 1.93 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The business had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same quarter last year, the firm posted $5.50 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts predict that Northrop Grumman Co. will post 24.7 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently announced 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 was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a yield of 1.54%. Northrop Grumman’s payout ratio is 52.31%.

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.