Wealth Alliance Has $767,000 Stake in Northrop Grumman Co. (NYSE:NOC)

Wealth Alliance trimmed its stake in Northrop Grumman Co. (NYSE:NOC) by 16.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,759 shares of the aerospace company’s stock after selling 343 shares during the period. Wealth Alliance’s holdings in Northrop Grumman were worth $767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Optimum Investment Advisors boosted its position in shares of 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 acquiring an additional 41 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of Northrop Grumman during the 2nd quarter valued at about $28,000. Frazier Financial Advisors LLC acquired a new stake in shares of Northrop Grumman during the 4th quarter valued at about $29,000. Meeder Asset Management Inc. boosted its position in shares of 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 acquiring an additional 54 shares in the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of Northrop Grumman during the 1st quarter valued at about $38,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NOC shares. BTIG Research started coverage on shares of Northrop Grumman in a research report on Wednesday, June 26th. They set a “buy” rating and a $565.00 target price on the stock. Jefferies Financial Group decreased their target price 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. TD Cowen lifted their price target on shares of Northrop Grumman from $440.00 to $515.00 and gave the company a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Morgan Stanley lifted their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $523.20.

Northrop Grumman Trading Up 0.2 %

Shares of NYSE NOC opened at $521.63 on Thursday. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $528.76. The company has a market cap of $77.20 billion, a PE ratio of 36.48, a P/E/G ratio of 2.36 and a beta of 0.34. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average of $492.39 and a two-hundred day moving average of $468.88.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. The company had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.34 earnings per share. As a group, equities analysts expect that Northrop Grumman Co. will post 25.14 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is 57.62%.

Insider Buying and Selling

In related news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction that occurred 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 owns 6,755 shares in the company, valued at $3,225,917.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The disclosure for this sale can be found here. Insiders sold a total of 2,846 shares of company stock valued at $1,393,028 over the last ninety days. Insiders own 0.22% of the company’s stock.

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.