BLB&B Advisors LLC Sells 40 Shares of Northrop Grumman Co. (NYSE:NOC)

BLB&B Advisors LLC decreased its holdings in Northrop Grumman Co. (NYSE:NOC) 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 (NYSE:NOC) last announced 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 business 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 earnings per share. Northrop Grumman’s revenue was up 6.7% compared to the same quarter last year. Equities analysts forecast that Northrop Grumman Co. will post 25.16 earnings per share for the current fiscal year.

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.

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.