Northrop Grumman Co. (NYSE:NOC) Shares Sold by 1858 Wealth Management LLC

1858 Wealth Management LLC trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,727 shares of the aerospace company’s stock after selling 104 shares during the quarter. 1858 Wealth Management LLC’s holdings in Northrop Grumman were worth $912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Optimum Investment Advisors grew its position in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares during the period. Bank & Trust Co acquired a new position in Northrop Grumman during the second quarter worth about $28,000. Meeder Asset Management Inc. grew its position in Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after buying an additional 54 shares during the period. Riverview Trust Co acquired a new position in Northrop Grumman during the first quarter worth about $47,000. Finally, Larson Financial Group LLC grew its position in Northrop Grumman by 281.5% during the first quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock worth $49,000 after buying an additional 76 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup upped their target price on shares of Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Barclays upped their price target on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and upped their price target for the company from $474.00 to $575.00 in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Northrop Grumman currently has a consensus rating of “Hold” and a consensus target price of $535.00.

Insider Transactions at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,879 shares of company stock valued at $1,410,703 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Trading Down 0.3 %

NYSE:NOC traded down $1.72 during trading hours on Monday, reaching $529.07. 152,221 shares of the company were exchanged, compared to its average volume of 871,858. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. The firm has a market cap of $78.30 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The stock has a 50 day simple moving average of $521.74 and a 200 day simple moving average of $479.08.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. The company had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. Northrop Grumman’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $5.34 earnings per share. As a group, analysts predict that Northrop Grumman Co. will post 25.16 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 57.62%.

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.