Cutter & CO Brokerage Inc. Decreases Stock Position in Northrop Grumman Co. (NYSE:NOC)

Cutter & CO Brokerage Inc. cut its stake in Northrop Grumman Co. (NYSE:NOC) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,997 shares of the aerospace company’s stock after selling 163 shares during the period. Northrop Grumman comprises about 0.9% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 28th largest holding. Cutter & CO Brokerage Inc.’s holdings in Northrop Grumman were worth $3,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. London Co. of Virginia purchased a new stake in Northrop Grumman during the 3rd quarter worth about $165,786,000. Invesco Ltd. increased its position in shares of Northrop Grumman by 74.7% during the third quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock worth $517,028,000 after purchasing an additional 502,060 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Northrop Grumman by 19.7% during the fourth quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock worth $7,731,000 after purchasing an additional 2,723 shares in the last quarter. Phraction Management LLC acquired a new stake in shares of Northrop Grumman during the third quarter worth about $677,000. Finally, Cerity Partners LLC increased its position in shares of Northrop Grumman by 2,801.7% during the fourth quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock worth $154,720,000 after purchasing an additional 319,109 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Up 0.7 %

NYSE NOC traded up $3.42 during trading hours on Tuesday, hitting $474.40. The company had a trading volume of 1,365,358 shares, compared to its average volume of 996,139. 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 market capitalization of $70.31 billion, a price-to-earnings ratio of 35.16, a P/E/G ratio of 1.86 and a beta of 0.35. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.05. The firm’s 50 day moving average is $460.10 and its 200 day moving average is $465.12.

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

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were issued a dividend of $1.87 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.58%. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

Insiders Place Their Bets

In other news, VP Kathryn G. Simpson sold 711 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the transaction, the vice president now directly owns 2,024 shares in the company, valued at approximately $917,317.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other 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 sale, the chief accounting officer now directly owns 4,137 shares of the company’s stock, valued at $1,863,180.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kathryn G. Simpson sold 711 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the transaction, the vice president now owns 2,024 shares in the company, valued at $917,317.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,149 shares of company stock worth $1,421,147. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOC. TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a research report on Thursday, January 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $450.00 target price (down previously from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price on the stock in a research note on Monday. Susquehanna reduced their target price on Northrop Grumman from $560.00 to $540.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. Finally, StockNews.com lowered Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Northrop Grumman currently has an average rating of “Hold” and an average price target of $497.23.

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.