Axxcess Wealth Management LLC Trims Stock Position in Northrop Grumman Co. (NYSE:NOC)

Axxcess Wealth Management LLC trimmed its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 72.1% during the 2nd quarter, Holdings Channel reports. The fund owned 1,632 shares of the aerospace company’s stock after selling 4,217 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Northrop Grumman were worth $711,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NOC. Bogart Wealth LLC grew its stake in shares of Northrop Grumman by 14.1% during the 1st quarter. Bogart Wealth LLC now owns 170 shares of the aerospace company’s stock worth $81,000 after purchasing an additional 21 shares during the period. Turtle Creek Wealth Advisors LLC grew its position in Northrop Grumman by 4.6% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 500 shares of the aerospace company’s stock valued at $218,000 after buying an additional 22 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in Northrop Grumman by 2.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 965 shares of the aerospace company’s stock valued at $462,000 after buying an additional 23 shares in the last quarter. Capital Investment Advisors LLC raised its position in shares of Northrop Grumman by 1.1% in the second quarter. Capital Investment Advisors LLC now owns 2,068 shares of the aerospace company’s stock worth $902,000 after acquiring an additional 23 shares during the period. Finally, Renasant Bank boosted its stake in shares of Northrop Grumman by 3.3% during the 1st quarter. Renasant Bank now owns 743 shares of the aerospace company’s stock worth $356,000 after acquiring an additional 24 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction dated 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 approximately $3,225,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,846 shares of company stock worth $1,393,028. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on NOC shares. Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and lifted their price target for the company from $474.00 to $575.00 in a research note on Monday, July 29th. Sanford C. Bernstein lowered Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a research report on Friday, June 21st. Royal Bank of Canada boosted their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Barclays increased their price objective 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. Finally, Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price for the company. in a research note on Tuesday, August 27th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $523.20.

Northrop Grumman Trading Up 0.1 %

NOC opened at $522.36 on Friday. 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 company’s 50 day simple moving average is $494.20 and its two-hundred day simple moving average is $469.25. The firm has a market capitalization of $77.30 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 2.36 and a beta of 0.34. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $528.76.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data 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. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company had revenue of $10.22 billion for the quarter, compared to analyst estimates of $10.02 billion. During the same quarter in the previous year, the company posted $5.34 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts expect that Northrop Grumman Co. will post 25.14 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend 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.