Amalgamated Bank Trims Stake in Northrop Grumman Co. (NYSE:NOC)

Amalgamated Bank lowered its holdings in shares of Northrop Grumman Co. (NYSE:NOC – Get Rating) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,097 shares of the aerospace company’s stock after selling 1,133 shares during the period. Amalgamated Bank’s holdings in Northrop Grumman were worth $20,786,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NOC. EWG Elevate Inc. bought a new stake in Northrop Grumman during the fourth quarter worth about $25,000. Capital Directions Investment Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter worth about $30,000. Concord Wealth Partners bought a new position in shares of Northrop Grumman in the fourth quarter worth approximately $32,000. MADDEN SECURITIES Corp bought a new position in shares of Northrop Grumman in the fourth quarter worth approximately $36,000. Finally, Baldwin Brothers LLC MA bought a new position in shares of Northrop Grumman in the fourth quarter worth approximately $38,000. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

NOC has been the topic of several analyst reports. Credit Suisse Group dropped their target price on shares of Northrop Grumman from $500.00 to $490.00 and set an “outperform” rating on the stock in a research note on Monday, February 6th. Bank of America decreased their price objective on shares of Northrop Grumman from $700.00 to $655.00 in a report on Sunday, January 29th. 22nd Century Group reissued a “maintains” rating on shares of Northrop Grumman in a report on Friday, April 28th. Cowen cut shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $500.00 to $478.00 in a report on Friday, January 27th. Finally, Cowen cut shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $478.00 price objective for the company. in a report on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Northrop Grumman presently has an average rating of “Hold” and a consensus target price of $509.00.

Northrop Grumman Trading Up 0.9 %

NOC stock traded up $3.72 during trading on Friday, hitting $437.23. The company had a trading volume of 226,917 shares, compared to its average volume of 937,935. The firm has a market capitalization of $66.40 billion, a P/E ratio of 14.02, a PEG ratio of 5.15 and a beta of 0.50. Northrop Grumman Co. has a 52-week low of $429.10 and a 52-week high of $556.27. The company has a 50 day simple moving average of $455.99 and a 200-day simple moving average of $480.65. The company has a quick ratio of 1.12, a current ratio of 1.22 and a debt-to-equity ratio of 0.91.

Northrop Grumman (NYSE:NOC – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The aerospace company reported $5.50 EPS for the quarter, topping the consensus estimate of $5.16 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.19 billion. Northrop Grumman had a net margin of 12.89% and a return on equity of 26.61%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $6.10 EPS. As a group, research analysts forecast that Northrop Grumman Co. will post 22.57 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 30th will be issued a $1.87 dividend. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.73. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, May 26th. Northrop Grumman’s dividend payout ratio (DPR) is currently 22.39%.

Insider Buying and Selling

In related news, VP David T. Perry sold 3,999 shares of Northrop Grumman stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $469.65, for a total value of $1,878,130.35. Following the completion of the sale, the vice president now directly owns 8,717 shares in the company, valued at approximately $4,093,939.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northrop Grumman news, VP David T. Perry sold 3,999 shares of Northrop Grumman stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $469.65, for a total transaction of $1,878,130.35. Following the completion of the sale, the vice president now directly owns 8,717 shares in the company, valued at approximately $4,093,939.05. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Mark A. Caylor sold 2,810 shares of Northrop Grumman stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $467.58, for a total transaction of $1,313,899.80. Following the transaction, the vice president now directly owns 16,240 shares of the company’s stock, valued at $7,593,499.20. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Northrop Grumman Company Profile

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Northrop Grumman Corp. engages in the provision of advanced aircraft systems. It operates through the following segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment is involved in the design, development, production, integration, sustainment, and modernization of advanced aircraft systems for the U.S.