Godsey & Gibb Inc. Sells 50 Shares of Northrop Grumman Co. (NYSE:NOC)

Godsey & Gibb Inc. trimmed its stake in Northrop Grumman Co. (NYSE:NOC) by 17.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 232 shares of the aerospace company’s stock after selling 50 shares during the period. Godsey & Gibb Inc.’s holdings in Northrop Grumman were worth $123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOC. Optimum Investment Advisors lifted its position in Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of Northrop Grumman in the second quarter valued at $28,000. Meeder Asset Management Inc. lifted its holdings 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 acquiring an additional 54 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Northrop Grumman during the 1st quarter worth about $47,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Northrop Grumman during the 2nd quarter worth about $47,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NOC shares. Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and raised their price objective for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. BTIG Research started coverage on Northrop Grumman in a report on Wednesday, June 26th. They set a “buy” rating and a $565.00 price objective for the company. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Citigroup boosted their target price on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada raised their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $535.00.

Northrop Grumman Stock Up 0.5 %

Shares of NYSE NOC opened at $530.79 on Monday. The stock has a market capitalization of $78.55 billion, a PE ratio of 37.12, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The stock’s fifty day simple moving average is $521.74 and its two-hundred day simple moving average is $479.08.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.93 by $0.43. The company had revenue of $10.22 billion for 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%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.34 earnings per share. As a group, analysts expect that Northrop Grumman Co. will post 25.16 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.55%. Northrop Grumman’s dividend payout ratio (DPR) is presently 57.62%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman 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 transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 approximately $3,225,917.80. This trade 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. Also, VP Thomas H. Jones sold 1,390 shares of the business’s 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 sale, 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 disclosure for this sale can be found here. Insiders sold 2,879 shares of company stock valued at $1,410,703 over the last 90 days. Insiders own 0.22% of the company’s stock.

Northrop Grumman 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.