1832 Asset Management L.P. Trims Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

1832 Asset Management L.P. lowered its holdings in Northrop Grumman Co. (NYSE:NOC) by 64.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,803 shares of the aerospace company’s stock after selling 3,297 shares during the quarter. 1832 Asset Management L.P.’s holdings in Northrop Grumman were worth $786,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on NOC shares. Barclays lifted their target price on Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Jefferies Financial Group decreased their target price on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a report on Tuesday, June 18th. BTIG Research began coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price on the stock. Morgan Stanley boosted their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Sanford C. Bernstein downgraded Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price objective on the stock. in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Northrop Grumman has a consensus rating of “Hold” and an average price target of $523.20.

Insiders Place Their Bets

In other news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Thomas H. Jones sold 1,390 shares of the firm’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 transaction 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 filing with the SEC, which is available through this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the sale, the vice president now owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. Insiders sold 2,846 shares of company stock valued at $1,393,028 over the last three months. Insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

NOC opened at $524.31 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $77.59 billion, a P/E ratio of 36.67, a PEG ratio of 2.44 and a beta of 0.34. The stock has a 50-day moving average price of $501.74 and a 200-day moving average price of $471.28. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $534.61.

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

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is presently 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.