AE Wealth Management LLC raised its position in Northrop Grumman Co. (NYSE:NOC) by 13.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,310 shares of the aerospace company’s stock after buying an additional 508 shares during the period. AE Wealth Management LLC’s holdings in Northrop Grumman were worth $1,326,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Northrop Grumman during the second quarter worth about $114,000. Meeder Asset Management Inc. bought a new position in shares of Northrop Grumman during the second quarter worth about $115,000. Fort L.P. bought a new position in shares of Northrop Grumman during the second quarter worth about $117,000. Kaizen Advisory LLC lifted its position in shares of Northrop Grumman by 156.2% during the second quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock worth $133,000 after purchasing an additional 264 shares during the last quarter. Finally, Sun Life Financial INC lifted its position in shares of Northrop Grumman by 71.0% during the second quarter. Sun Life Financial INC now owns 472 shares of the aerospace company’s stock worth $145,000 after purchasing an additional 196 shares during the last quarter. 81.48% of the stock is owned by institutional investors.
In related news, Chairman Wesley G. Bush sold 20,000 shares of the stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $297.91, for a total transaction of $5,958,200.00. Following the sale, the chairman now owns 18,701 shares in the company, valued at $5,571,214.91. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kenneth L. Bedingfield sold 1,442 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $300.00, for a total transaction of $432,600.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,475 shares of company stock worth $9,390,331. 0.62% of the stock is owned by company insiders.
Several equities analysts have recently commented on the stock. ValuEngine cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Tuesday, June 12th. Credit Suisse Group increased their price target on shares of Northrop Grumman from $326.00 to $341.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $300.00 price target on shares of Northrop Grumman in a research report on Thursday, July 26th. JPMorgan Chase & Co. reduced their price target on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Finally, Zacks Investment Research cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $362.16.
NOC opened at $303.41 on Friday. The stock has a market cap of $52.75 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 1.60 and a beta of 0.67. Northrop Grumman Co. has a fifty-two week low of $264.69 and a fifty-two week high of $360.88. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.75.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $3.84 by $0.09. The firm had revenue of $7.12 billion for the quarter, compared to analyst estimates of $7.10 billion. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. Northrop Grumman’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.16 earnings per share. sell-side analysts predict that Northrop Grumman Co. will post 16.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Investors of record on Monday, August 27th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, August 24th. This represents a $4.80 annualized dividend and a yield of 1.58%. Northrop Grumman’s dividend payout ratio (DPR) is 36.14%.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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