Phraction Management LLC Cuts Holdings in Northrop Grumman Co. (NYSE:NOC)

Phraction Management LLC decreased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,471 shares of the aerospace company’s stock after selling 66 shares during the period. Phraction Management LLC’s holdings in Northrop Grumman were worth $689,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Northrop Grumman in the fourth quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Northrop Grumman in the third quarter worth about $29,000. Providence Capital Advisors LLC grew its position in Northrop Grumman by 400.0% in the third quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 80 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Northrop Grumman in the third quarter worth about $70,000. Finally, Rational Advisors LLC purchased a new position in shares of Northrop Grumman during the third quarter valued at approximately $72,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NOC. Royal Bank of Canada boosted their target price on Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Robert W. Baird boosted their target price on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. TheStreet lowered Northrop Grumman from a “b+” rating to a “c+” rating in a research report on Thursday, January 25th. Wells Fargo & Company boosted 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 boosted 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, April 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $509.38.

Northrop Grumman Stock Performance

NYSE:NOC traded up $4.27 during mid-day trading on Wednesday, hitting $489.30. The company’s stock had a trading volume of 259,575 shares, compared to its average volume of 993,495. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $496.89. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02. The stock has a market cap of $72.41 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 2.00 and a beta of 0.35. The business’s fifty day moving average is $463.92 and its two-hundred day moving average is $465.75.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, beating the consensus estimate of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The company had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period in the prior year, the company earned $5.50 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Analysts anticipate that Northrop Grumman Co. will post 24.7 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were given a $1.87 dividend. The ex-dividend date was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.53%. Northrop Grumman’s dividend payout ratio (DPR) is currently 52.31%.

Insiders Place Their Bets

In related news, CAO Michael A. Hardesty sold 955 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $430,103.35. Following the completion of the transaction, the chief accounting officer now owns 4,137 shares in the company, valued at approximately $1,863,180.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Kathryn G. Simpson sold 1,273 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the completion of the transaction, the vice president now owns 2,735 shares in the company, valued at approximately $1,231,761.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael A. Hardesty sold 955 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the transaction, the chief accounting officer now owns 4,137 shares of the company’s stock, valued at approximately $1,863,180.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,149 shares of company stock worth $1,421,147. Company insiders own 0.22% of the company’s stock.

About Northrop Grumman

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.