Wealth Alliance Has $767,000 Position in Northrop Grumman Co. (NYSE:NOC)

Wealth Alliance lowered its position in shares of Northrop Grumman Co. (NYSE:NOC) by 16.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,759 shares of the aerospace company’s stock after selling 343 shares during the quarter. Wealth Alliance’s holdings in Northrop Grumman were worth $767,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of Northrop Grumman in the second quarter valued at approximately $3,203,000. Moors & Cabot Inc. boosted its holdings in shares of Northrop Grumman by 6.2% in the second quarter. Moors & Cabot Inc. now owns 5,502 shares of the aerospace company’s stock valued at $2,399,000 after buying an additional 321 shares during the period. Excalibur Management Corp boosted its holdings in shares of Northrop Grumman by 23.3% in the second quarter. Excalibur Management Corp now owns 529 shares of the aerospace company’s stock valued at $231,000 after buying an additional 100 shares during the period. Lmcg Investments LLC boosted its holdings in shares of Northrop Grumman by 2.7% in the second quarter. Lmcg Investments LLC now owns 22,326 shares of the aerospace company’s stock valued at $9,733,000 after buying an additional 591 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Northrop Grumman in the second quarter valued at approximately $21,492,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction that occurred 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 owns 6,755 shares in the company, valued at $3,225,917.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction that occurred 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 owns 6,755 shares in the company, valued at $3,225,917.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The disclosure for this sale can be found here. Insiders sold a total of 2,846 shares of company stock worth $1,393,028 over the last quarter. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Sanford C. Bernstein lowered shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target on the stock. in a research note on Friday, June 21st. TD Cowen increased their price objective on shares of Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. UBS Group lifted their target price on Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Morgan Stanley lifted their target price on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $523.20.

Northrop Grumman Trading Up 0.2 %

Northrop Grumman stock opened at $521.63 on Thursday. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $528.76. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The stock has a market capitalization of $77.20 billion, a P/E ratio of 36.48, a PEG ratio of 2.36 and a beta of 0.34. The stock has a 50-day simple moving average of $492.39 and a 200 day simple moving average of $468.88.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The business had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter last year, the company posted $5.34 earnings per share. Northrop Grumman’s quarterly revenue was up 6.7% on a year-over-year basis. Analysts expect that Northrop Grumman Co. will post 25.14 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 57.62%.

Northrop Grumman 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.