Wellington Shields Capital Management LLC Has $5.10 Million Holdings in Northrop Grumman Co. (NOC)

Wellington Shields Capital Management LLC lowered its stake in Northrop Grumman Co. (NYSE:NOC) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,610 shares of the aerospace company’s stock after selling 500 shares during the period. Northrop Grumman comprises 0.8% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Wellington Shields Capital Management LLC’s holdings in Northrop Grumman were worth $5,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Hyman Charles D increased its holdings in shares of Northrop Grumman by 3.0% in the 4th quarter. Hyman Charles D now owns 17,416 shares of the aerospace company’s stock valued at $5,345,000 after acquiring an additional 500 shares during the last quarter. ING Groep NV increased its holdings in shares of Northrop Grumman by 10.0% in the 4th quarter. ING Groep NV now owns 16,552 shares of the aerospace company’s stock valued at $5,080,000 after acquiring an additional 1,502 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Northrop Grumman by 0.8% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 82,647 shares of the aerospace company’s stock valued at $25,365,000 after acquiring an additional 678 shares during the last quarter. Northwest Capital Management Inc purchased a new position in shares of Northrop Grumman in the 4th quarter valued at about $307,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Northrop Grumman by 3.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,753 shares of the aerospace company’s stock valued at $7,897,000 after acquiring an additional 805 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors.

In related news, COO Gloria A. Flach sold 7,741 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $296.45, for a total transaction of $2,294,819.45. Following the transaction, the chief operating officer now owns 77,200 shares in the company, valued at approximately $22,885,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

A number of research firms have recently commented on NOC. Royal Bank of Canada increased their price objective on Northrop Grumman from $324.00 to $347.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Zacks Investment Research downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Cowen reiterated a “hold” rating and issued a $310.00 price objective on shares of Northrop Grumman in a report on Thursday, January 25th. Argus increased their price objective on Northrop Grumman to $375.00 and gave the company a “positive” rating in a report on Monday. Finally, Goldman Sachs Group set a $320.00 price objective on Northrop Grumman and gave the company a “buy” rating in a report on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Northrop Grumman has an average rating of “Buy” and a consensus target price of $317.47.

Northrop Grumman Co. (NYSE NOC) opened at $337.66 on Thursday. The company has a market capitalization of $57,013.69, a PE ratio of 29.44, a P/E/G ratio of 2.36 and a beta of 0.82. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 2.04.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.07. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.34 billion. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.96 EPS. analysts forecast that Northrop Grumman Co. will post 15.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, March 2nd. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio (DPR) is currently 34.87%.

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About Northrop Grumman

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

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