EP Wealth Advisors LLC Trims Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

EP Wealth Advisors LLC cut its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,338 shares of the aerospace company’s stock after selling 403 shares during the quarter. EP Wealth Advisors LLC’s holdings in Northrop Grumman were worth $7,995,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Optimum Investment Advisors raised its stake in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co bought a new position in shares of Northrop Grumman during the 2nd quarter valued at about $28,000. Meeder Asset Management Inc. grew its stake in shares of Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Northrop Grumman in the 1st quarter worth approximately $38,000. Finally, Riverview Trust Co bought a new stake in Northrop Grumman during the first quarter worth approximately $47,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction dated Friday, August 2nd. The stock was 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 $2,317,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, 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. Also, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now directly 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. In the last three months, insiders sold 2,846 shares of company stock valued at $1,393,028. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

NYSE NOC opened at $528.07 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $78.15 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $534.61. The company has a 50 day moving average price of $507.01 and a two-hundred day moving average price of $472.78.

Northrop Grumman (NYSE:NOC) last released its quarterly 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. 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 during the quarter, compared to the consensus estimate of $10.02 billion. During the same quarter in the prior year, the company posted $5.34 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. As a group, equities analysts predict that Northrop Grumman Co. will post 25.14 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 57.62%.

Wall Street Analysts Forecast Growth

NOC has been the topic of several research reports. Barclays upped their price target on Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. BTIG Research began coverage on shares of Northrop Grumman in a research report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price on the stock. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a report on Tuesday, August 27th. Wells Fargo & Company raised their price objective on shares of Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, Sanford C. Bernstein downgraded shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a research note on Friday, June 21st. One investment 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 data from MarketBeat, Northrop Grumman currently has an average rating of “Hold” and an average price target of $523.20.

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.