Greenleaf Trust lifted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 17.1% in the first quarter, HoldingsChannel.com reports. The fund owned 1,440 shares of the aerospace company’s stock after purchasing an additional 210 shares during the quarter. Greenleaf Trust’s holdings in Northrop Grumman were worth $388,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at about $27,000. Trustcore Financial Services LLC acquired a new stake in Northrop Grumman in the 1st quarter valued at about $27,000. Truvestments Capital LLC acquired a new stake in Northrop Grumman in the 1st quarter valued at about $28,000. Sontag Advisory LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at about $29,000. Finally, Legacy Advisors LLC acquired a new stake in Northrop Grumman in the 1st quarter valued at about $30,000. 81.37% of the stock is owned by institutional investors.

Shares of NYSE NOC opened at $311.09 on Friday. The company has a market cap of $53.70 billion, a P/E ratio of 14.58, a PEG ratio of 1.27 and a beta of 0.89. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 1.59. Northrop Grumman Co. has a 52-week low of $223.63 and a 52-week high of $340.14.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.59 by $0.47. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $8.34 billion. Northrop Grumman had a net margin of 9.67% and a return on equity of 41.42%. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.21 earnings per share. As a group, equities research analysts predict that Northrop Grumman Co. will post 19.39 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Monday, June 3rd will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $5.28 dividend on an annualized basis and a yield of 1.70%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.20. Northrop Grumman’s payout ratio is currently 22.50%.

Several research firms have weighed in on NOC. Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. Argus restated a “buy” rating on shares of Northrop Grumman in a research report on Friday, February 1st. UBS Group raised their price objective on shares of Northrop Grumman from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Bank of America restated a “buy” rating and issued a $355.00 price objective (down previously from $360.00) on shares of Northrop Grumman in a research report on Friday, February 1st. Finally, Drexel Hamilton set a $335.00 price objective on shares of Northrop Grumman and gave the company a “buy” rating in a research report on Saturday, February 9th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $333.06.

In other news, Director Madeleine Kleiner sold 971 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $315.16, for a total value of $306,020.36. Following the sale, the director now owns 16,675 shares of the company’s stock, valued at $5,255,293. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Michael A. Hardesty sold 1,447 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $286.20, for a total transaction of $414,131.40. Following the completion of the sale, the chief accounting officer now directly owns 4,806 shares in the company, valued at approximately $1,375,477.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,776 shares of company stock valued at $23,789,221. Corporate insiders own 0.45% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Greenleaf Trust Has $388,000 Stake in Northrop Grumman Co. (NOC)” was originally reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://theolympiareport.com/2019/05/24/greenleaf-trust-has-388000-stake-in-northrop-grumman-co-noc.html.

Northrop Grumman Company Profile

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

Featured Article: QQQ ETF

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC).

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

Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.