Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC increased its position in Northrop Grumman Co. (NYSE:NOC) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,767 shares of the aerospace company’s stock after acquiring an additional 316 shares during the period. Lake Street Private Wealth LLC’s holdings in Northrop Grumman were worth $4,102,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Optimum Investment Advisors grew its holdings in Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after buying an additional 41 shares during the last quarter. Bank & Trust Co acquired a new stake in Northrop Grumman during the 2nd quarter valued at $28,000. Meeder Asset Management Inc. grew its holdings in Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Northrop Grumman during the 1st quarter worth $47,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Northrop Grumman during the second quarter worth $47,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 of the company’s stock, valued at approximately $3,225,917.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northrop Grumman 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 value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares in the company, valued at $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 is available at this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 owns 6,755 shares of the company’s stock, 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. Insiders sold a total of 2,879 shares of company stock valued at $1,410,703 over the last three months. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on NOC. Barclays lifted their price objective on Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Citigroup lifted their price objective on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. BTIG Research began coverage on Northrop Grumman in a research report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 price objective for the company. Wells Fargo & Company boosted their price target on Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $535.00.

Northrop Grumman Stock Down 0.3 %

Shares of NYSE:NOC traded down $1.60 during trading on Wednesday, hitting $518.60. The company’s stock had a trading volume of 83,835 shares, compared to its average volume of 869,150. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The stock’s 50-day moving average price is $522.66 and its two-hundred day moving average price is $480.04. The company has a market capitalization of $76.75 billion, a PE ratio of 36.39, a PEG ratio of 2.44 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping the consensus estimate of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The business had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter in the previous year, the firm posted $5.34 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that Northrop Grumman Co. will post 25.16 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is currently 57.62%.

About Northrop Grumman

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.