Marcum Wealth LLC Has $638,000 Position in Northrop Grumman Co. (NYSE:NOC)

Marcum Wealth LLC reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,332 shares of the aerospace company’s stock after selling 27 shares during the period. Marcum Wealth LLC’s holdings in Northrop Grumman were worth $638,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. London Co. of Virginia acquired a new stake in shares of Northrop Grumman in the 3rd quarter valued at approximately $165,786,000. Fisher Asset Management LLC boosted its position in Northrop Grumman by 7,574.5% during the 4th quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock worth $57,879,000 after buying an additional 122,026 shares during the period. Raymond James Trust N.A. boosted its position in Northrop Grumman by 19.7% during the 4th quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock worth $7,731,000 after buying an additional 2,723 shares during the period. Red Mountain Financial LLC acquired a new stake in Northrop Grumman during the 4th quarter worth approximately $264,000. Finally, Bradley Foster & Sargent Inc. CT boosted its position in Northrop Grumman by 6.3% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 116,442 shares of the aerospace company’s stock worth $54,511,000 after buying an additional 6,898 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on NOC. Robert W. Baird lifted their target price on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Jefferies Financial Group cut their target price on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research report on Tuesday. Sanford C. Bernstein downgraded shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target on the stock. in a research report on Friday. Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target on the stock in a research report on Monday, April 22nd. Finally, Susquehanna boosted their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $506.15.

Northrop Grumman Stock Performance

NYSE:NOC opened at $432.41 on Friday. The company has a fifty day moving average of $458.20 and a 200-day moving average of $461.01. The firm has a market capitalization of $63.99 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.03 and a beta of 0.35. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04. Northrop Grumman Co. has a twelve month low of $414.56 and a twelve month high of $496.89.

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

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, May 24th. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s payout ratio is 57.62%.

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.