Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Choreo LLC

Choreo LLC grew its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 224.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,433 shares of the aerospace company’s stock after acquiring an additional 3,065 shares during the period. Choreo LLC’s holdings in Northrop Grumman were worth $1,929,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NOC. Optimum Investment Advisors lifted its holdings in shares of Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares during the last quarter. Bank & Trust Co purchased a new stake in Northrop Grumman during the second quarter valued at about $28,000. Frazier Financial Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at about $29,000. Rise Advisors LLC purchased a new stake in shares of Northrop Grumman in the 1st quarter valued at approximately $38,000. Finally, Riverview Trust Co purchased a new stake in shares of Northrop Grumman in the first quarter valued at $47,000. 83.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The shares were 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 $3,225,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the transaction, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the sale, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The disclosure for this sale can be found here. Insiders have sold a total of 2,846 shares of company stock worth $1,393,028 over the last 90 days. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NOC shares. Jefferies Financial Group lowered their price target on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a report on Tuesday, June 18th. Wells Fargo & Company lifted their target price on Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. TD Cowen increased their price target on shares of Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Morgan Stanley raised their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $523.20.

Northrop Grumman Stock Down 0.8 %

NOC stock opened at $519.90 on Wednesday. The firm has a market cap of $76.03 billion, a PE ratio of 36.36, a PEG ratio of 2.36 and a beta of 0.34. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $528.76. The company has a fifty day simple moving average of $481.80 and a 200 day simple moving average of $466.36. 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 (NYSE:NOC) last posted its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share 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 business’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $5.34 earnings per share. Sell-side analysts anticipate that Northrop Grumman Co. will post 25.14 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $2.06 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.58%. Northrop Grumman’s payout ratio is currently 57.62%.

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.