Rehmann Capital Advisory Group Sells 223 Shares of Northrop Grumman Co. (NYSE:NOC)

Rehmann Capital Advisory Group lowered its position in shares of Northrop Grumman Co. (NYSE:NOC) by 22.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 774 shares of the aerospace company’s stock after selling 223 shares during the period. Rehmann Capital Advisory Group’s holdings in Northrop Grumman were worth $370,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NOC. Integrated Wealth Concepts LLC lifted its stake in Northrop Grumman by 2.1% during the third quarter. Integrated Wealth Concepts LLC now owns 3,740 shares of the aerospace company’s stock worth $1,646,000 after purchasing an additional 77 shares during the last quarter. Creative Planning lifted its stake in Northrop Grumman by 16.3% during the third quarter. Creative Planning now owns 37,669 shares of the aerospace company’s stock worth $16,581,000 after purchasing an additional 5,269 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in Northrop Grumman by 2.8% during the third quarter. Integrated Advisors Network LLC now owns 2,668 shares of the aerospace company’s stock worth $1,174,000 after purchasing an additional 72 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Northrop Grumman by 11.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 15,234 shares of the aerospace company’s stock valued at $6,706,000 after acquiring an additional 1,565 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in shares of Northrop Grumman by 71.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 19,031 shares of the aerospace company’s stock valued at $8,377,000 after acquiring an additional 7,938 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Up 0.3 %

Shares of NOC stock traded up $1.49 during midday trading on Thursday, reaching $427.73. 30,487 shares of the stock were exchanged, compared to its average volume of 970,363. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $496.89. The company’s 50 day moving average is $448.37 and its two-hundred day moving average is $457.48. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 1.04. The firm has a market cap of $63.30 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 2.01 and a beta of 0.33.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The firm had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter in the prior year, the business earned $5.50 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were issued a dividend of $2.06 per share. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date of this dividend was Friday, May 24th. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.93%. Northrop Grumman’s dividend payout ratio is 57.62%.

Wall Street Analyst Weigh In

NOC has been the subject of a number of recent research reports. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price for the company in a research note on Monday, April 22nd. Robert W. Baird boosted their target price on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Royal Bank of Canada boosted their target price on Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Susquehanna boosted their target price on Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a research note on Friday, April 26th. Finally, Sanford C. Bernstein lowered Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price for the company. in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.