Lockerman Financial Group Inc. Sells 79 Shares of Northrop Grumman Co. (NYSE:NOC)

Lockerman Financial Group Inc. trimmed its holdings in Northrop Grumman Co. (NYSE:NOC) by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,436 shares of the aerospace company’s stock after selling 79 shares during the period. Northrop Grumman comprises about 1.3% of Lockerman Financial Group Inc.’s holdings, making the stock its 15th largest position. Lockerman Financial Group Inc.’s holdings in Northrop Grumman were worth $687,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NOC. London Co. of Virginia purchased a new stake in shares of Northrop Grumman in the third quarter valued at about $165,786,000. Gulf International Bank UK Ltd raised its holdings in shares of Northrop Grumman by 1,402.9% in the first quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock valued at $6,186,000 after purchasing an additional 12,065 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Northrop Grumman by 7,574.5% in the fourth quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock valued at $57,879,000 after purchasing an additional 122,026 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Northrop Grumman by 19.7% in the fourth quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock valued at $7,731,000 after purchasing an additional 2,723 shares during the last quarter. Finally, Red Mountain Financial LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at about $264,000. 83.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NOC has been the subject of several analyst reports. StockNews.com downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Company raised their price objective on shares of Northrop Grumman from $483.00 to $518.00 in a report on Tuesday, June 18th. Susquehanna raised their price objective on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Jefferies Financial Group decreased their price objective on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a report on Tuesday, June 18th. Finally, BTIG Research assumed coverage on shares of Northrop Grumman in a report on Wednesday. They set a “buy” rating and a $565.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $510.36.

Northrop Grumman Price Performance

Shares of NOC stock traded down $0.33 during trading hours on Friday, reaching $434.58. The stock had a trading volume of 122,080 shares, compared to its average volume of 989,581. The stock’s fifty day simple moving average is $456.95 and its 200 day simple moving average is $459.90. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 1.04. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $496.89. The firm has a market capitalization of $64.31 billion, a PE ratio of 30.41, a PEG ratio of 2.01 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The company had revenue of $10.13 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same period last year, the business earned $5.50 earnings per share. Northrop Grumman’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that Northrop Grumman Co. will post 24.7 EPS for the current year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were given a $2.06 dividend. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, May 24th. Northrop Grumman’s dividend payout ratio (DPR) is 57.62%.

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.