Annex Advisory Services LLC Sells 330 Shares of Northrop Grumman Co. (NYSE:NOC)

Annex Advisory Services LLC reduced its position in shares of Northrop Grumman Co. (NYSE:NOC) by 21.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,219 shares of the aerospace company’s stock after selling 330 shares during the period. Annex Advisory Services LLC’s holdings in Northrop Grumman were worth $584,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. London Co. of Virginia acquired a new stake in Northrop Grumman in the 3rd quarter valued at about $165,786,000. Gulf International Bank UK Ltd increased its position in Northrop Grumman by 1,402.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock valued at $6,186,000 after acquiring an additional 12,065 shares in the last quarter. Fisher Asset Management LLC increased its position in Northrop Grumman by 7,574.5% in the 4th quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock valued at $57,879,000 after acquiring an additional 122,026 shares in the last quarter. Raymond James Trust N.A. increased its position in Northrop Grumman by 19.7% in the 4th quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock valued at $7,731,000 after acquiring an additional 2,723 shares in the last quarter. Finally, Red Mountain Financial LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at about $264,000. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Down 0.5 %

Shares of NYSE NOC opened at $428.48 on Wednesday. The stock has a market cap of $63.41 billion, a P/E ratio of 29.96, a P/E/G ratio of 2.01 and a beta of 0.35. The firm has a 50 day moving average price of $457.36 and a 200 day moving average price of $460.10. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. Northrop Grumman Co. has a 52-week low of $414.56 and a 52-week high of $496.89.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The firm had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the previous year, the company earned $5.50 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that Northrop Grumman Co. will post 24.7 EPS for the current year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were paid a $2.06 dividend. The ex-dividend date was Friday, May 24th. This represents a $8.24 dividend on an annualized basis and a yield of 1.92%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s payout ratio is presently 57.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NOC shares. Royal Bank of Canada raised their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Susquehanna lifted their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. Sanford C. Bernstein cut shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target for the company. in a research report on Friday, June 21st. Wells Fargo & Company lifted their price target on shares of Northrop Grumman from $483.00 to $518.00 in a research report on Tuesday, June 18th. Finally, StockNews.com cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $506.15.

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.