EverSource Wealth Advisors LLC Trims Holdings in Northrop Grumman Co. (NYSE:NOC)

EverSource Wealth Advisors LLC cut its stake in Northrop Grumman Co. (NYSE:NOC) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 642 shares of the aerospace company’s stock after selling 85 shares during the period. EverSource Wealth Advisors LLC’s holdings in Northrop Grumman were worth $301,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. boosted its holdings in Northrop Grumman by 16.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 43,661 shares of the aerospace company’s stock worth $19,219,000 after purchasing an additional 6,151 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Northrop Grumman by 57.5% in the 3rd quarter. Corient Private Wealth LLC now owns 121,524 shares of the aerospace company’s stock valued at $53,495,000 after buying an additional 44,380 shares during the period. NBC Securities Inc. bought a new stake in shares of Northrop Grumman during the 3rd quarter valued at about $408,000. Ieq Capital LLC raised its stake in Northrop Grumman by 1.0% during the third quarter. Ieq Capital LLC now owns 7,228 shares of the aerospace company’s stock worth $3,181,000 after acquiring an additional 70 shares during the period. Finally, Lincoln National Corp lifted its holdings in Northrop Grumman by 2.5% in the third quarter. Lincoln National Corp now owns 10,901 shares of the aerospace company’s stock worth $4,799,000 after acquiring an additional 264 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Up 0.0 %

Shares of NYSE:NOC traded up $0.14 during midday trading on Friday, hitting $465.29. 42,720 shares of the stock were exchanged, compared to its average volume of 964,472. The business’s fifty day simple moving average is $468.58 and its two-hundred day simple moving average is $465.14. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. Northrop Grumman Co. has a 52-week low of $414.56 and a 52-week high of $496.89. The company has a market capitalization of $68.86 billion, a PE ratio of 32.68, a P/E/G ratio of 2.21 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $9.77 billion. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $5.50 EPS. As a group, research analysts predict that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be given a dividend of $2.06 per share. The ex-dividend date is Friday, May 24th. This represents a $8.24 dividend on an annualized basis and a yield of 1.77%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s dividend payout ratio is presently 52.31%.

Analyst Ratings Changes

Several research firms have recently commented on NOC. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price for the company in a report on Monday, April 22nd. Susquehanna boosted their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a report on Friday, April 26th. Royal Bank of Canada lifted their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. TheStreet cut shares of Northrop Grumman from a “b+” rating to a “c+” rating in a research report on Thursday, January 25th. Finally, Robert W. Baird lifted their price target on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $514.33.

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.