Northrop Grumman Co. (NYSE:NOC) Shares Sold by Busey Wealth Management

Busey Wealth Management lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 4.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 780 shares of the aerospace company’s stock after selling 40 shares during the period. Busey Wealth Management’s holdings in Northrop Grumman were worth $253,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Appleton Partners Inc. MA lifted its stake in shares of Northrop Grumman by 2.8% in the 1st quarter. Appleton Partners Inc. MA now owns 5,635 shares of the aerospace company’s stock valued at $1,824,000 after purchasing an additional 156 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC lifted its stake in shares of Northrop Grumman by 30.9% in the 1st quarter. Landsberg Bennett & Dubbaneh LLC now owns 2,164 shares of the aerospace company’s stock valued at $697,000 after purchasing an additional 511 shares during the last quarter. Pinnacle Financial Partners Inc. lifted its stake in shares of Northrop Grumman by 1.6% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 3,060 shares of the aerospace company’s stock valued at $976,000 after purchasing an additional 49 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Northrop Grumman by 172.7% during the 1st quarter. International Assets Investment Management LLC now owns 3,292 shares of the aerospace company’s stock worth $1,043,000 after acquiring an additional 2,085 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. lifted its stake in Northrop Grumman by 3.1% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 44,716 shares of the aerospace company’s stock worth $14,472,000 after acquiring an additional 1,355 shares in the last quarter. 82.65% of the stock is currently owned by institutional investors and hedge funds.

In other Northrop Grumman news, VP Shawn N. Purvis sold 4,389 shares of the stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $300.25, for a total transaction of $1,317,797.25. Following the completion of the sale, the vice president now directly owns 3,608 shares of the company’s stock, valued at approximately $1,083,302. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Lesley A. Kalan sold 1,560 shares of the stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $308.31, for a total value of $480,963.60. Following the sale, the vice president now directly owns 12,331 shares of the company’s stock, valued at $3,801,770.61. The disclosure for this sale can be found here. Insiders have sold a total of 14,286 shares of company stock worth $4,294,598 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

NOC opened at $343.43 on Friday. Northrop Grumman Co. has a one year low of $282.88 and a one year high of $352.12. The company has a market cap of $55.28 billion, a P/E ratio of 23.49 and a beta of 0.75. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.36 and a current ratio of 1.44. The business’s 50-day simple moving average is $320.88 and its 200-day simple moving average is $306.78.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 28th. The aerospace company reported $6.59 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.89. Northrop Grumman had a return on equity of 40.02% and a net margin of 6.94%. The business had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the prior year, the business posted $5.61 EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, analysts predict that Northrop Grumman Co. will post 22.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 17th. Investors of record on Monday, March 1st were paid a dividend of $1.45 per share. The ex-dividend date of this dividend was Friday, February 26th. This represents a $5.80 dividend on an annualized basis and a yield of 1.69%. Northrop Grumman’s dividend payout ratio is presently 27.35%.

NOC has been the topic of several research reports. Susquehanna Bancshares decreased their target price on Northrop Grumman from $380.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, January 29th. Robert W. Baird lowered Northrop Grumman from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $386.00 to $331.00 in a research note on Thursday, January 7th. Morgan Stanley decreased their target price on Northrop Grumman from $453.00 to $447.00 and set an “overweight” rating on the stock in a research note on Monday, February 8th. Credit Suisse Group decreased their target price on Northrop Grumman from $377.00 to $353.00 and set an “outperform” rating on the stock in a research note on Friday, January 29th. Finally, Susquehanna decreased their target price on Northrop Grumman from $380.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, January 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $373.08.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems for strategic and tactical intelligence, surveillance, and reconnaissance (ISR) missions; and long-range strike aircraft systems, tactical fighter aircrafts, and airborne battle management systems.

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

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