Northrop Grumman Co. (NYSE:NOC) Shares Sold by Spire Wealth Management

Spire Wealth Management cut its position in shares of Northrop Grumman Co. (NYSE:NOC) by 9.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,025 shares of the aerospace company’s stock after selling 316 shares during the quarter. Spire Wealth Management’s holdings in Northrop Grumman were worth $1,379,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Morgan Stanley raised its holdings in shares of Northrop Grumman by 3.5% during the 4th quarter. Morgan Stanley now owns 3,353,108 shares of the aerospace company’s stock valued at $1,829,490,000 after buying an additional 114,823 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Northrop Grumman by 30.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,567,612 shares of the aerospace company’s stock valued at $723,799,000 after purchasing an additional 362,449 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Northrop Grumman by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 1,243,164 shares of the aerospace company’s stock valued at $566,634,000 after purchasing an additional 13,958 shares during the period. Franklin Resources Inc. grew its holdings in Northrop Grumman by 62.6% during the 1st quarter. Franklin Resources Inc. now owns 1,143,475 shares of the aerospace company’s stock valued at $527,965,000 after purchasing an additional 440,303 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Northrop Grumman by 7.7% during the 1st quarter. Macquarie Group Ltd. now owns 982,045 shares of the aerospace company’s stock worth $453,430,000 after buying an additional 70,389 shares during the period. 82.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Down 0.4 %

NOC stock opened at $464.99 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.28 and a debt-to-equity ratio of 0.87. The firm’s 50-day simple moving average is $455.49 and its 200 day simple moving average is $448.22. The stock has a market cap of $70.12 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 8.45 and a beta of 0.42. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $549.87.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, October 26th. The aerospace company reported $6.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.81 by $0.37. Northrop Grumman had a return on equity of 24.24% and a net margin of 12.07%. The business had revenue of $9.78 billion during the quarter, compared to analyst estimates of $9.58 billion. During the same period in the prior year, the company posted $5.89 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that Northrop Grumman Co. will post 22.71 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 27th will be given a $1.87 dividend. This represents a $7.48 dividend on an annualized basis and a yield of 1.61%. Northrop Grumman’s dividend payout ratio is presently 24.54%.

Insider Buying and Selling at Northrop Grumman

In related news, VP Mark A. Caylor sold 1,670 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $472.62, for a total transaction of $789,275.40. Following the sale, the vice president now owns 12,900 shares of the company’s stock, valued at $6,096,798. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Mark A. Caylor sold 1,670 shares of Northrop Grumman stock in a transaction on Monday, November 6th. The stock was sold at an average price of $472.62, for a total transaction of $789,275.40. Following the transaction, the vice president now directly owns 12,900 shares in the company, valued at approximately $6,096,798. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Roshan S. Roeder sold 1,007 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $465.00, for a total value of $468,255.00. Following the completion of the sale, the vice president now directly owns 913 shares in the company, valued at approximately $424,545. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NOC. Deutsche Bank Aktiengesellschaft began coverage on Northrop Grumman in a research note on Wednesday, September 27th. They set a “buy” rating and a $502.00 target price for the company. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of Northrop Grumman from $485.00 to $435.00 and set an “equal weight” rating for the company in a research note on Monday, September 18th. UBS Group initiated coverage on shares of Northrop Grumman in a research note on Tuesday, October 10th. They set a “buy” rating and a $555.00 price objective on the stock. Finally, Citigroup cut their target price on shares of Northrop Grumman from $502.00 to $485.00 and set a “neutral” rating on the stock in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $500.20.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems in the United States and internationally. 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.