Cabot Wealth Management Inc. Sells 212 Shares of Northrop Grumman Corporation (NOC)

Cabot Wealth Management Inc. reduced its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 3.4% during the first quarter, Holdings Channel reports. The fund owned 5,955 shares of the aerospace company’s stock after selling 212 shares during the period. Cabot Wealth Management Inc.’s holdings in Northrop Grumman Corporation were worth $1,416,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NOC. Horan Capital Management acquired a new stake in shares of Northrop Grumman Corporation during the first quarter valued at about $115,000. Dubuque Bank & Trust Co. raised its stake in shares of Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock valued at $119,000 after buying an additional 9 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Northrop Grumman Corporation by 6.8% in the fourth quarter. Perigon Wealth Management LLC now owns 531 shares of the aerospace company’s stock valued at $129,000 after buying an additional 34 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Northrop Grumman Corporation by 12.4% in the first quarter. Quadrant Capital Group LLC now owns 590 shares of the aerospace company’s stock valued at $132,000 after buying an additional 65 shares during the last quarter. Finally, Portfolio Solutions LLC acquired a new stake in shares of Northrop Grumman Corporation during the first quarter valued at about $141,000. Hedge funds and other institutional investors own 82.20% of the company’s stock.

Institutional Ownership by Quarter for Northrop Grumman Corporation (NYSE:NOC)

Northrop Grumman Corporation (NYSE:NOC) opened at 256.69 on Monday. The stock’s 50 day moving average is $250.60 and its 200 day moving average is $241.55. The firm has a market capitalization of $44.81 billion, a price-to-earnings ratio of 20.08 and a beta of 0.69. Northrop Grumman Corporation has a 1-year low of $206.69 and a 1-year high of $259.23.

Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings data on Wednesday, April 26th. The aerospace company reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.73. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 38.20%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter last year, the company posted $3.03 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts predict that Northrop Grumman Corporation will post $12.36 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Monday, June 5th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, June 1st. This is an increase from Northrop Grumman Corporation’s previous quarterly dividend of $0.90. Northrop Grumman Corporation’s dividend payout ratio (DPR) is 31.27%.

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Several brokerages have issued reports on NOC. Vetr lowered shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating and set a $253.00 price target on the stock. in a research note on Thursday, February 16th. Vertical Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $254.00 to $270.00 in a research note on Wednesday, May 10th. Citigroup Inc. lowered shares of Northrop Grumman Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $253.80 to $185.08 in a research note on Wednesday, March 1st. Finally, Zacks Investment Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Thursday, April 13th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $249.28.

In other news, VP Christopher T. Jones sold 240 shares of Northrop Grumman Corporation stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $237.58, for a total value of $57,019.20. Following the completion of the transaction, the vice president now owns 61,686 shares in the company, valued at $14,655,359.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas E. Vice sold 29,740 shares of Northrop Grumman Corporation stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $250.00, for a total transaction of $7,435,000.00. Following the completion of the transaction, the vice president now owns 72,453 shares of the company’s stock, valued at approximately $18,113,250. The disclosure for this sale can be found here. Insiders sold 64,047 shares of company stock valued at $15,830,055 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

Northrop Grumman Corporation Company Profile

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

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