Hennion & Walsh Asset Management Inc. Sells 1,095 Shares of Northrop Grumman Co. (NYSE:NOC)

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 18.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,709 shares of the aerospace company’s stock after selling 1,095 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Northrop Grumman were worth $2,487,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in NOC. Ascent Group LLC lifted its stake in Northrop Grumman by 0.5% during the second quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock worth $1,891,000 after purchasing an additional 20 shares during the period. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Northrop Grumman by 0.9% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after buying an additional 20 shares during the period. Asset Dedication LLC boosted its stake in Northrop Grumman by 1.0% in the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after buying an additional 20 shares in the last quarter. Foundations Investment Advisors LLC grew its position in Northrop Grumman by 1.4% in the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock valued at $780,000 after acquiring an additional 20 shares during the period. Finally, Salvus Wealth Management LLC raised its stake in Northrop Grumman by 1.6% during the third quarter. Salvus Wealth Management LLC now owns 1,321 shares of the aerospace company’s stock worth $698,000 after acquiring an additional 21 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Shares of NOC stock opened at $519.35 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.11 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 firm has a market cap of $75.95 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.38 and a beta of 0.34. The stock has a 50-day moving average price of $523.28 and a 200 day moving average price of $480.60.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the previous year, the company earned $6.18 EPS. Northrop Grumman’s revenue was up 2.3% on a year-over-year basis. Research analysts expect that Northrop Grumman Co. will post 25.16 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is currently 53.79%.

Analysts Set New Price Targets

Several brokerages have recently commented on NOC. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Citigroup raised their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. UBS Group boosted their target price on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday. Finally, Royal Bank of Canada raised their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $547.44.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the company’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 completion of the sale, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 1,490 shares of company stock worth $747,372 in the last three months. 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.