Parsons Capital Management Inc. RI Reduces Holdings in Northrop Grumman Co. (NYSE:NOC)

Parsons Capital Management Inc. RI decreased its stake in shares of Northrop Grumman Co. (NYSE:NOCFree Report) by 2.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,003 shares of the aerospace company’s stock after selling 30 shares during the period. Parsons Capital Management Inc. RI’s holdings in Northrop Grumman were worth $470,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. London Co. of Virginia purchased a new stake in Northrop Grumman during the 3rd quarter worth about $165,786,000. Invesco Ltd. lifted its holdings in Northrop Grumman by 74.7% during the 3rd quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock worth $517,028,000 after purchasing an additional 502,060 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Northrop Grumman by 19.7% during the 4th quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock worth $7,731,000 after purchasing an additional 2,723 shares in the last quarter. Comerica Bank purchased a new stake in Northrop Grumman during the 2nd quarter worth about $59,403,000. Finally, Phraction Management LLC purchased a new stake in Northrop Grumman during the 3rd quarter worth about $677,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NOC opened at $466.36 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $457.49 and its 200 day simple moving average is $462.60. The firm has a market cap of $69.97 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 1.90 and a beta of 0.35. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $496.89.

Northrop Grumman (NYSE:NOCGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The aerospace company reported $6.27 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.47. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.43 billion. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $7.50 EPS. As a group, analysts predict that Northrop Grumman Co. will post 24.67 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared 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 1.60%. Northrop Grumman’s dividend payout ratio (DPR) is currently 55.49%.

Insider Activity

In other news, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total transaction of $95,482.80. Following the transaction, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Kathryn G. Simpson sold 711 shares of Northrop Grumman stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total transaction of $322,239.42. Following the sale, the vice president now directly owns 2,024 shares in the company, valued at $917,317.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the sale, the chief accounting officer now owns 3,127 shares in the company, valued at $1,421,784.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,149 shares of company stock valued at $1,421,147. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOC. Wolfe Research cut Northrop Grumman from a “peer perform” rating to an “underperform” rating and set a $450.00 price objective on the stock. in a report on Thursday, December 14th. Deutsche Bank Aktiengesellschaft cut Northrop Grumman from a “buy” rating to a “hold” rating and lowered their price target for the company from $541.00 to $473.00 in a report on Friday, December 15th. Robert W. Baird lowered their price target on Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 26th. StockNews.com cut Northrop Grumman from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Finally, Susquehanna lowered their price target on Northrop Grumman from $560.00 to $540.00 and set a “positive” rating on the stock in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $494.33.

Check Out Our Latest Report on Northrop Grumman

About Northrop Grumman

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOCFree Report).

Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.