Evexia Wealth LLC Cuts Stock Position in Northrop Grumman Co. (NYSE:NOC)

by · The Cerbat Gem

Evexia Wealth LLC lowered its position in Northrop Grumman Co. (NYSE:NOC – Free Report) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,923 shares of the aerospace company’s stock after selling 514 shares during the period. Northrop Grumman comprises approximately 2.6% of Evexia Wealth LLC’s holdings, making the stock its 18th largest position. Evexia Wealth LLC’s holdings in Northrop Grumman were worth $7,435,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Capital International Investors raised its stake in shares of Northrop Grumman by 5.6% during the 1st quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock worth $5,623,128,000 after buying an additional 621,636 shares during the last quarter. Van ECK Associates Corp boosted its position in Northrop Grumman by 1,915.9% during the second quarter. Van ECK Associates Corp now owns 438,521 shares of the aerospace company’s stock worth $191,173,000 after acquiring an additional 416,768 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Northrop Grumman by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock valued at $2,218,132,000 after purchasing an additional 211,459 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Northrop Grumman in the second quarter worth approximately $90,177,000. Finally, Global Assets Advisory LLC acquired a new position in shares of Northrop Grumman in the 1st quarter valued at $83,182,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock traded up $1.61 on Friday, reaching $528.70. The stock had a trading volume of 325,156 shares, compared to its average volume of 878,648. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $78.24 billion, a price-to-earnings ratio of 36.97, a P/E/G ratio of 2.44 and a beta of 0.34. The firm’s 50-day moving average is $517.80 and its two-hundred day moving average is $476.93.

Northrop Grumman (NYSE:NOC – Get Free Report) last released its quarterly 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 business had revenue of $10.22 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $5.34 EPS. On average, research analysts expect that Northrop Grumman Co. will post 25.16 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.56%. Northrop Grumman’s dividend payout ratio (DPR) is currently 57.62%.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman 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 directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Thomas H. Jones sold 1,390 shares of the company’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 transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the transaction, the vice president now directly owns 6,755 shares in the company, valued at $3,225,917.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,879 shares of company stock worth $1,410,703. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday. Jefferies Financial Group reduced their price target on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research report on Tuesday, June 18th. Wells Fargo & Company upped their price objective on Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Royal Bank of Canada boosted their price objective on Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, UBS Group increased their price target on Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Northrop Grumman has a consensus rating of “Hold” and a consensus target price of $527.19.

View Our Latest Report on NOC

Northrop Grumman Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC – Free Report).