Wetherby Asset Management Inc. Has $901,000 Holdings in Northrop Grumman Co. (NOC)
Wetherby Asset Management Inc. boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 1.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,341 shares of the aerospace company’s stock after buying an additional 52 shares during the period. Wetherby Asset Management Inc.’s holdings in Northrop Grumman were worth $901,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of NOC. SVA Plumb Wealth Management LLC boosted its holdings in Northrop Grumman by 2.5% during the first quarter. SVA Plumb Wealth Management LLC now owns 1,433 shares of the aerospace company’s stock valued at $386,000 after acquiring an additional 35 shares during the period. Penserra Capital Management LLC boosted its holdings in Northrop Grumman by 31.3% during the fourth quarter. Penserra Capital Management LLC now owns 168 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 40 shares during the period. First Personal Financial Services boosted its holdings in Northrop Grumman by 6.5% during the first quarter. First Personal Financial Services now owns 658 shares of the aerospace company’s stock valued at $177,000 after acquiring an additional 40 shares during the period. Pendal Group Ltd boosted its holdings in Northrop Grumman by 1.1% during the first quarter. Pendal Group Ltd now owns 3,621 shares of the aerospace company’s stock valued at $976,000 after acquiring an additional 41 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. boosted its holdings in Northrop Grumman by 3.6% during the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 1,310 shares of the aerospace company’s stock valued at $321,000 after acquiring an additional 45 shares during the period. 81.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. UBS Group upped their price target on shares of Northrop Grumman from $290.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. ValuEngine upgraded shares of Northrop Grumman from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Barclays increased their target price on shares of Northrop Grumman from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 30th. Finally, Susquehanna Bancshares upgraded shares of Northrop Grumman from a “neutral” rating to a “positive” rating and increased their target price for the company from $309.00 to $315.00 in a research note on Friday, April 5th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $333.06.
Northrop Grumman (NYSE:NOC) last announced 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. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $8.34 billion. Northrop Grumman had a net margin of 9.67% and a return on equity of 41.42%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter last year, the company earned $4.21 earnings per share. Equities research analysts expect that Northrop Grumman Co. will post 19.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Monday, June 3rd will be paid a dividend of $1.32 per share. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, May 31st. This represents a $5.28 dividend on an annualized basis and a yield of 1.69%. Northrop Grumman’s dividend payout ratio (DPR) is currently 22.50%.
In other Northrop Grumman news, Director Madeleine Kleiner sold 971 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $315.16, for a total transaction of $306,020.36. Following the completion of the transaction, the director now owns 16,675 shares in the company, valued at $5,255,293. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David T. Perry sold 13,210 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $288.94, for a total transaction of $3,816,897.40. Following the transaction, the vice president now owns 25,100 shares of the company’s stock, valued at approximately $7,252,394. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,776 shares of company stock valued at $23,789,221. Corporate insiders own 0.45% of the company’s stock.
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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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