Northrop Grumman Co. (NOC) Shares Bought by SVA Plumb Wealth Management LLC
SVA Plumb Wealth Management LLC lifted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 2.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,433 shares of the aerospace company’s stock after acquiring an additional 35 shares during the quarter. SVA Plumb Wealth Management LLC’s holdings in Northrop Grumman were worth $386,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new position in Northrop Grumman in the 1st quarter valued at $28,000. Legacy Advisors LLC acquired a new position in Northrop Grumman in the 1st quarter valued at $30,000. Laurel Wealth Advisors LLC acquired a new position in Northrop Grumman in the 4th quarter valued at $27,000. Field & Main Bank acquired a new position in Northrop Grumman in the 1st quarter valued at $31,000. Finally, Sontag Advisory LLC acquired a new position in Northrop Grumman in the 4th quarter valued at $29,000. Institutional investors own 83.67% of the company’s stock.
In other Northrop Grumman news, Chairman Wesley G. Bush sold 50,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $291.59, for a total value of $14,579,500.00. Following the completion of the transaction, the chairman now owns 46,275 shares of the company’s stock, valued at approximately $13,493,327.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Janis G. Pamiljans sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $285.12, for a total value of $712,800.00. Following the completion of the transaction, the vice president now directly owns 6,732 shares of the company’s stock, valued at approximately $1,919,427.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,197 shares of company stock valued at $48,826,976. Insiders own 0.45% of the company’s stock.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $5.06 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.47. Northrop Grumman had a return on equity of 41.42% and a net margin of 9.67%. The company had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $8.34 billion. During the same quarter in the previous year, the firm earned $4.21 EPS. Northrop Grumman’s revenue was up 21.6% on a year-over-year basis. As a group, research analysts forecast that Northrop Grumman Co. will post 19.39 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Monday, June 3rd will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, May 31st. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.20. Northrop Grumman’s dividend payout ratio is presently 22.50%.
A number of research firms have recently commented on NOC. UBS Group boosted their price target on Northrop Grumman from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Barclays boosted their price target on Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 30th. Susquehanna Bancshares raised Northrop Grumman from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $309.00 to $315.00 in a report on Friday, April 5th. Finally, Cowen reissued a “hold” rating and set a $300.00 price target on shares of Northrop Grumman in a report on Thursday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $338.82.
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Northrop Grumman Company Profile
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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