Hoey Investments Inc. Has $453,000 Stock Position in Northrop Grumman Co. (NYSE:NOC)

Hoey Investments Inc. cut its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 20.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 884 shares of the aerospace company’s stock after selling 230 shares during the quarter. Hoey Investments Inc.’s holdings in Northrop Grumman were worth $453,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Northrop Grumman by 55,522.3% in the 1st quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company’s stock valued at $778,336,000 after purchasing an additional 1,517,425 shares during the period. Capital International Investors lifted its position in shares of Northrop Grumman by 5.9% during the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company’s stock valued at $3,866,133,000 after acquiring an additional 461,307 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Northrop Grumman by 28.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company’s stock worth $952,962,000 after buying an additional 450,858 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Northrop Grumman by 337.1% during the 4th quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company’s stock worth $226,250,000 after buying an additional 371,814 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Northrop Grumman during the 4th quarter worth $171,580,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Kathy J. Warden sold 3,750 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $495.00, for a total value of $1,856,250.00. Following the completion of the sale, the chief executive officer now owns 209,102 shares of the company’s stock, valued at approximately $103,505,490. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Roshan S. Roeder sold 991 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the completion of the sale, the vice president now directly owns 319 shares of the company’s stock, valued at approximately $156,310. This trade represents a 75.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,340 shares of company stock valued at $6,183,378 over the last 90 days. Insiders own 0.23% of the company’s stock.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $517.22 on Friday. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The business has a 50-day simple moving average of $490.98 and a 200 day simple moving average of $482.62. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The stock has a market cap of $74.44 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 3.73 and a beta of 0.14.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. The firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. On average, research analysts forecast that Northrop Grumman Co. will post 28.05 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 18th. Shareholders of record on Monday, June 2nd will be paid a dividend of $2.31 per share. The ex-dividend date is Monday, June 2nd. This represents a $9.24 annualized dividend and a yield of 1.79%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $2.06. Northrop Grumman’s payout ratio is 36.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada lowered their target price on Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. UBS Group dropped their price target on Northrop Grumman from $583.00 to $571.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley lifted their price target on Northrop Grumman from $580.00 to $625.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Wall Street Zen lowered Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, April 24th. Finally, Truist Financial dropped their price target on Northrop Grumman from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $545.31.

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.