Diversified Trust Co Cuts Stock Position in Northrop Grumman Co. (NYSE:NOC)

Diversified Trust Co decreased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 22.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,511 shares of the aerospace company’s stock after selling 442 shares during the quarter. Diversified Trust Co’s holdings in Northrop Grumman were worth $723,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Gulf International Bank UK Ltd lifted its position in shares of Northrop Grumman by 1,402.9% during the first quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock worth $6,186,000 after purchasing an additional 12,065 shares during the last quarter. Fisher Asset Management LLC lifted its holdings 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 valued at $57,879,000 after buying an additional 122,026 shares in the last quarter. Raymond James Trust N.A. grew its stake in Northrop Grumman by 19.7% in the 4th quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock worth $7,731,000 after acquiring an additional 2,723 shares in the last quarter. Red Mountain Financial LLC purchased a new position in shares of Northrop Grumman during the fourth quarter worth approximately $264,000. Finally, Bradley Foster & Sargent Inc. CT raised its stake in shares of Northrop Grumman by 6.3% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 116,442 shares of the aerospace company’s stock valued at $54,511,000 after acquiring an additional 6,898 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $437.37 on Wednesday. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. The company has a market cap of $64.73 billion, a PE ratio of 30.59, a P/E/G ratio of 2.03 and a beta of 0.33. The business has a 50-day simple moving average of $455.35 and a two-hundred day simple moving average of $458.91.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, topping 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 analysts’ expectations of $9.77 billion. During the same period last year, the business earned $5.50 EPS. Northrop Grumman’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts expect that Northrop Grumman Co. will post 24.7 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.88%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date was Friday, May 24th. Northrop Grumman’s dividend payout ratio is presently 57.62%.

Wall Street Analysts Forecast Growth

NOC has been the topic of several research analyst reports. Susquehanna increased their price objective on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research note on Friday, April 26th. Jefferies Financial Group cut their price target on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research note on Tuesday, June 18th. Royal Bank of Canada upped their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Robert W. Baird raised their target price on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company upped their price target on shares of Northrop Grumman from $483.00 to $518.00 in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $510.36.

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.