Glassman Wealth Services Cuts Stake in Northrop Grumman Co. (NYSE:NOC)

Glassman Wealth Services cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 23.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 832 shares of the aerospace company’s stock after selling 254 shares during the period. Glassman Wealth Services’ holdings in Northrop Grumman were worth $269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Childress Capital Advisors LLC bought a new position in shares of Northrop Grumman in the fourth quarter worth approximately $25,000. Graves Light Private Wealth Management Inc. purchased a new position in shares of Northrop Grumman in the fourth quarter valued at about $28,000. Bellwether Advisors LLC bought a new position in shares of Northrop Grumman during the fourth quarter valued at about $29,000. Hoover Financial Advisors Inc. purchased a new stake in shares of Northrop Grumman during the fourth quarter worth about $36,000. Finally, Emerson Wealth Management LLC bought a new stake in shares of Northrop Grumman in the first quarter worth about $36,000. Institutional investors and hedge funds own 82.65% of the company’s stock.

Shares of NOC opened at $371.61 on Monday. Northrop Grumman Co. has a fifty-two week low of $282.88 and a fifty-two week high of $378.61. The firm’s 50-day simple moving average is $343.78 and its two-hundred day simple moving average is $311.71. The stock has a market cap of $59.81 billion, a PE ratio of 25.42 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.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, April 29th. The aerospace company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $5.48 by $1.09. Northrop Grumman had a return on equity of 40.02% and a net margin of 6.94%. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the prior year, the business posted $5.48 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts predict that Northrop Grumman Co. will post 22.72 EPS for the current 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 $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, February 26th. Northrop Grumman’s payout ratio is 27.35%.

NOC has been the subject of several research analyst reports. Susquehanna increased their price objective on Northrop Grumman from $350.00 to $409.00 and gave the stock a “positive” rating in a report on Thursday, May 6th. Zacks Investment Research raised Northrop Grumman from a “sell” rating to a “hold” rating and set a $375.00 price target for the company in a research note on Monday, May 3rd. Morgan Stanley boosted their price objective on shares of Northrop Grumman from $447.00 to $478.00 and gave the company an “overweight” rating in a research report on Thursday, May 6th. Susquehanna Bancshares lifted their target price on shares of Northrop Grumman from $350.00 to $409.00 and gave the company a “positive” rating in a research note on Friday, April 30th. Finally, Credit Suisse Group decreased their price target on shares of Northrop Grumman from $377.00 to $353.00 and set an “outperform” rating for the company in a research note on Friday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Northrop Grumman presently has a consensus rating of “Buy” and an average price target of $386.75.

In other Northrop Grumman news, VP Janis G. Pamiljans sold 801 shares of the stock in a transaction on Thursday, February 18th. The stock was sold at an average price of $295.80, for a total transaction of $236,935.80. Following the sale, the vice president now directly owns 12,466 shares in the company, valued at approximately $3,687,442.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michael A. Hardesty sold 1,016 shares of the business’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $296.87, for a total value of $301,619.92. Following the completion of the transaction, the chief accounting officer now owns 6,476 shares of the company’s stock, valued at approximately $1,922,530.12. The disclosure for this sale can be found here. Insiders have sold a total of 21,195 shares of company stock worth $6,774,381 over the last three months. 0.27% of the stock is currently owned by insiders.

Northrop Grumman Company Profile

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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