Northrop Grumman Co. (NYSE:NOC) Shares Bought by Capital Investment Counsel LLC

Capital Investment Counsel LLC boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 17,332 shares of the aerospace company’s stock after purchasing an additional 142 shares during the period. Northrop Grumman makes up approximately 1.6% of Capital Investment Counsel LLC’s portfolio, making the stock its 17th biggest holding. Capital Investment Counsel LLC’s holdings in Northrop Grumman were worth $9,153,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NOC. BOKF NA grew its position in Northrop Grumman by 86.7% during the first quarter. BOKF NA now owns 3,398 shares of the aerospace company’s stock valued at $1,602,000 after buying an additional 1,578 shares during the period. Ascent Group LLC increased its stake in shares of Northrop Grumman by 0.8% in the 1st quarter. Ascent Group LLC now owns 4,317 shares of the aerospace company’s stock valued at $2,066,000 after purchasing an additional 33 shares in the last quarter. Caxton Associates LP acquired a new position in Northrop Grumman in the 1st quarter worth about $864,000. Jacobs Levy Equity Management Inc. purchased a new position in Northrop Grumman during the first quarter worth approximately $1,340,000. Finally, Virtus Investment Advisers Inc. acquired a new stake in Northrop Grumman in the first quarter valued at approximately $402,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,289 shares of company stock valued at $685,273 in the last quarter. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and increased their target price for the company from $474.00 to $575.00 in a research report on Monday, July 29th. UBS Group increased their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a report on Friday, October 25th. Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price for the company. in a research note on Tuesday, August 27th. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Stock Up 0.1 %

NYSE NOC opened at $496.87 on Friday. The business’s fifty day simple moving average is $520.60 and its 200-day simple moving average is $486.84. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a market cap of $72.39 billion, a PE ratio of 30.79, a P/E/G ratio of 1.00 and a beta of 0.35. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Northrop Grumman’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.18 earnings per share. As a group, equities analysts anticipate that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $2.06 dividend. The ex-dividend date is Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.66%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

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.