Northrop Grumman Co. (NYSE:NOC) Stake Cut by Cadinha & Co. LLC

Cadinha & Co. LLC cut its position in shares of Northrop Grumman Co. (NYSE:NOC) by 37.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 593 shares of the aerospace company’s stock after selling 360 shares during the period. Cadinha & Co. LLC’s holdings in Northrop Grumman were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd lifted its stake in Northrop Grumman by 1,402.9% during the first quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock worth $6,186,000 after purchasing an additional 12,065 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Northrop Grumman in the first quarter worth $870,000. Norden Group LLC acquired a new stake in Northrop Grumman in the first quarter worth $778,000. Aviso Wealth Management increased its position in Northrop Grumman by 110.7% in the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock worth $827,000 after buying an additional 996 shares during the period. Finally, Susquehanna International Securities Ltd. acquired a new stake in Northrop Grumman in the second quarter worth $1,133,000. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Performance

NYSE NOC traded down $2.94 during trading on Thursday, hitting $529.29. The company’s stock had a trading volume of 30,740 shares, compared to its average volume of 879,728. 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 firm has a 50 day moving average price of $516.44 and a 200 day moving average price of $476.17. The firm has a market cap of $78.33 billion, a P/E ratio of 37.22, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating 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 business 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 firm earned $5.34 EPS. Northrop Grumman’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts forecast that Northrop Grumman Co. will post 25.14 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NOC shares. 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. Alembic Global Advisors lowered 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. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and raised their target price for the company from $474.00 to $575.00 in a research note on Monday, July 29th. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Finally, BTIG Research initiated coverage on Northrop Grumman in a research note on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of “Hold” and an average price target of $523.20.

Insider Activity

In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the transaction, the vice president now owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction dated Friday, July 26th. The stock was 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 directly owns 6,755 shares in the company, valued at $3,225,917.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the 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 completion of the sale, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,879 shares of company stock valued at $1,410,703 over the last 90 days. 0.22% of the stock is owned by company insiders.

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.