Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Essex Financial Services Inc.

Essex Financial Services Inc. lifted its position in Northrop Grumman Co. (NYSE:NOC) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,126 shares of the aerospace company’s stock after acquiring an additional 102 shares during the quarter. Essex Financial Services Inc.’s holdings in Northrop Grumman were worth $527,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new position in Northrop Grumman in the fourth quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $29,000. Providence Capital Advisors LLC boosted its position in Northrop Grumman by 400.0% during the 3rd quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 80 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Northrop Grumman during the 3rd quarter worth $70,000. Finally, Rational Advisors LLC acquired a new stake in Northrop Grumman in the third quarter worth $72,000. 83.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price objective on the stock in a report on Monday, April 22nd. TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. Susquehanna increased their price objective on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Royal Bank of Canada lifted their target price on Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Finally, StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $509.38.

Northrop Grumman Price Performance

NYSE NOC opened at $469.09 on Friday. The stock has a market capitalization of $69.42 billion, a P/E ratio of 32.80, a P/E/G ratio of 1.95 and a beta of 0.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. The business’s fifty day moving average is $464.80 and its two-hundred day moving average is $465.95. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $496.89.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. 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 previous year, the firm earned $5.50 earnings per share. Northrop Grumman’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were issued a $1.87 dividend. This represents a $7.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s payout ratio is 52.31%.

Insider Transactions at Northrop Grumman

In related news, CAO Michael A. Hardesty sold 210 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at approximately $1,421,784.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction 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 can be accessed through this link. Also, VP Kathryn G. Simpson sold 711 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total value of $322,239.42. Following the sale, the vice president now owns 2,024 shares of the company’s stock, valued at $917,317.28. The disclosure for this sale can be found here. Insiders have sold a total of 3,149 shares of company stock valued at $1,421,147 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Profile

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.