BLB&B Advisors LLC decreased its holdings in Northrop Grumman Co. (NYSE:NOC – Free Report) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 585 shares of the aerospace company’s stock after selling 40 shares during the quarter. BLB&B Advisors LLC’s holdings in Northrop Grumman were worth $309,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Stanley Laman Group Ltd. acquired a new position in Northrop Grumman during the 3rd quarter worth about $204,000. Symphony Financial Ltd. Co. acquired a new position in shares of Northrop Grumman in the third quarter worth approximately $213,000. Eastern Bank boosted its holdings in Northrop Grumman by 3.9% in the third quarter. Eastern Bank now owns 1,074 shares of the aerospace company’s stock valued at $567,000 after acquiring an additional 40 shares during the last quarter. Signaturefd LLC increased its position in Northrop Grumman by 0.7% during the 3rd quarter. Signaturefd LLC now owns 3,886 shares of the aerospace company’s stock valued at $2,052,000 after purchasing an additional 28 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in Northrop Grumman by 7.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,941 shares of the aerospace company’s stock worth $1,553,000 after purchasing an additional 198 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.
Northrop Grumman Stock Performance
Shares of NOC opened at $516.40 on Thursday. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. 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 50 day moving average price of $522.88 and a two-hundred day moving average price of $480.30. The firm has a market capitalization of $76.42 billion, a P/E ratio of 36.11, a P/E/G ratio of 2.44 and a beta of 0.34.
Northrop Grumman Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.60%. Northrop Grumman’s dividend payout ratio is currently 57.62%.
Wall Street Analyst Weigh In
NOC has been the topic of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Morgan Stanley boosted their price objective on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Finally, Citigroup boosted their price target on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Northrop Grumman currently has a consensus rating of “Hold” and an average target price of $535.00.
Read Our Latest Research Report on Northrop Grumman
Insider Activity at Northrop Grumman
In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the company’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 completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, 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 transaction, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the 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 sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The trade was 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 ninety days. Corporate insiders own 0.22% of the company’s stock.
About Northrop Grumman
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.
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