Ocean Capital Management LLC Has $3.48 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

Ocean Capital Management LLC decreased its stake in Northrop Grumman Co. (NYSE:NOC) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,443 shares of the aerospace company’s stock after selling 382 shares during the period. Northrop Grumman makes up 1.4% of Ocean Capital Management LLC’s portfolio, making the stock its 17th largest holding. Ocean Capital Management LLC’s holdings in Northrop Grumman were worth $3,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Toth Financial Advisory Corp increased its holdings in shares of Northrop Grumman by 19.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 131 shares of the aerospace company’s stock worth $58,000 after purchasing an additional 21 shares during the period. Wesbanco Bank Inc. increased its stake in Northrop Grumman by 1.2% during the third quarter. Wesbanco Bank Inc. now owns 1,782 shares of the aerospace company’s stock valued at $784,000 after acquiring an additional 21 shares during the period. Patten Group Inc. raised its holdings in Northrop Grumman by 0.6% in the 3rd quarter. Patten Group Inc. now owns 3,523 shares of the aerospace company’s stock valued at $1,551,000 after acquiring an additional 22 shares in the last quarter. Ausdal Financial Partners Inc. lifted its position in shares of Northrop Grumman by 4.4% in the 4th quarter. Ausdal Financial Partners Inc. now owns 524 shares of the aerospace company’s stock worth $245,000 after acquiring an additional 22 shares during the period. Finally, IHT Wealth Management LLC grew its holdings in shares of Northrop Grumman by 1.6% during the 1st quarter. IHT Wealth Management LLC now owns 1,371 shares of the aerospace company’s stock worth $613,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Insider Activity

In other news, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total transaction of $95,482.80. Following the transaction, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Northrop Grumman news, VP Kathryn G. Simpson sold 1,273 shares of Northrop Grumman stock in a transaction on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the completion of the sale, the vice president now owns 2,735 shares of the company’s stock, valued at approximately $1,231,761.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael A. Hardesty sold 210 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the transaction, the chief accounting officer now directly owns 3,127 shares in the company, valued at approximately $1,421,784.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,149 shares of company stock valued at $1,421,147. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NOC shares. Wolfe Research lowered Northrop Grumman from a “peer perform” rating to an “underperform” rating and set a $450.00 target price for the company. in a research note on Thursday, December 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $450.00 target price (down from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. Susquehanna dropped their price target on shares of Northrop Grumman from $560.00 to $540.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Robert W. Baird decreased their price objective on Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 26th. Finally, TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $494.33.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $478.95 on Friday. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $496.89. The firm has a market cap of $71.86 billion, a P/E ratio of 35.53, a P/E/G ratio of 1.92 and a beta of 0.34. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.15. The business’s fifty day moving average is $457.14 and its two-hundred day moving average is $461.31.

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

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were given a $1.87 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a yield of 1.56%. Northrop Grumman’s payout ratio is 55.49%.

Northrop Grumman Company 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.