Northrop Grumman Co. (NYSE:NOC) Holdings Raised by PBMares Wealth Management LLC

PBMares Wealth Management LLC boosted its stake in Northrop Grumman Co. (NYSE:NOC) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,421 shares of the aerospace company’s stock after buying an additional 20 shares during the period. PBMares Wealth Management LLC’s holdings in Northrop Grumman were worth $2,335,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Capital International Investors increased its stake in Northrop Grumman by 5.6% in the 1st quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock valued at $5,623,128,000 after buying an additional 621,636 shares during the period. Van ECK Associates Corp increased its position in Northrop Grumman by 1,915.9% in the 2nd quarter. Van ECK Associates Corp now owns 438,521 shares of the aerospace company’s stock worth $191,173,000 after purchasing an additional 416,768 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Northrop Grumman by 4.8% during the 1st quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock worth $2,218,132,000 after purchasing an additional 211,459 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Northrop Grumman in the 2nd quarter valued at approximately $90,177,000. Finally, Marshall Wace LLP acquired a new position in Northrop Grumman in the second quarter worth approximately $74,206,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on NOC shares. Susquehanna increased their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research note on Friday. UBS Group increased their price objective on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and raised their target price for the company from $474.00 to $575.00 in a research note on Monday, July 29th. Alembic Global Advisors downgraded Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price for the company. in a research note on Tuesday, August 27th. Finally, TD Cowen raised shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Price Performance

Shares of NYSE NOC traded down $3.36 during trading on Tuesday, reaching $508.79. The company had a trading volume of 54,857 shares, compared to its average volume of 868,774. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The business’s 50 day moving average price is $523.68 and its 200-day moving average price is $481.77. The stock has a market cap of $74.13 billion, a PE ratio of 31.73, a PEG ratio of 2.31 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same period last year, the firm earned $6.18 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that Northrop Grumman Co. will post 25.87 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Insider Transactions at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction 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 owns 4,634 shares of the company’s stock, valued at $2,317,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 1,490 shares of company stock worth $747,372 in the last quarter. 0.22% of the stock is owned by company insiders.

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.