Verdence Capital Advisors LLC Raises Holdings in Northrop Grumman Co. (NYSE:NOC)

Verdence Capital Advisors LLC increased its position in Northrop Grumman Co. (NYSE:NOC) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,432 shares of the aerospace company’s stock after buying an additional 59 shares during the period. Verdence Capital Advisors LLC’s holdings in Northrop Grumman were worth $670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter worth $29,000. Providence Capital Advisors LLC increased its stake in Northrop Grumman by 400.0% during the third quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 80 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Northrop Grumman during the third quarter valued at approximately $70,000. Rational Advisors LLC purchased a new stake in Northrop Grumman during the third quarter valued at approximately $72,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Northrop Grumman by 16.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 165 shares of the aerospace company’s stock valued at $73,000 after purchasing an additional 23 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NOC has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on shares of Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 26th. StockNews.com downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price objective for the company in a report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and set a $450.00 target price (down from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. Finally, TheStreet cut shares of Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $497.23.

Insider Activity

In related news, CAO Michael A. Hardesty sold 955 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $430,103.35. Following the completion of the sale, the chief accounting officer now owns 4,137 shares of the company’s stock, valued at $1,863,180.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the transaction, the chief accounting officer now directly owns 4,137 shares in the company, valued at approximately $1,863,180.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kathryn G. Simpson sold 1,273 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $573,321.01. Following the completion of the sale, the vice president now owns 2,735 shares of the company’s stock, valued at $1,231,761.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,149 shares of company stock worth $1,421,147. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $470.98 on Tuesday. The firm has a market cap of $69.80 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 1.86 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $414.56 and a 52-week high of $496.89. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.93. The company’s 50 day moving average is $460.10 and its 200 day moving average is $465.12.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.47. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.43 billion. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $7.50 EPS. On average, sell-side analysts anticipate that Northrop Grumman Co. will post 24.67 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were issued a $1.87 dividend. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s dividend payout ratio is currently 55.49%.

About Northrop Grumman

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.