Axxcess Wealth Management LLC Sells 4,217 Shares of Northrop Grumman Co. (NYSE:NOC)

Axxcess Wealth Management LLC decreased its position in Northrop Grumman Co. (NYSE:NOC) by 72.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,632 shares of the aerospace company’s stock after selling 4,217 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Northrop Grumman were worth $711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NOC. Optimum Investment Advisors raised its stake in 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 in the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter valued at about $29,000. Bank & Trust Co bought a new position in shares of Northrop Grumman in the 2nd quarter valued at about $28,000. Meeder Asset Management Inc. grew its position in Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares in the last quarter. Finally, Rise Advisors LLC bought a new stake in Northrop Grumman during the first quarter worth approximately $38,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOC. Jefferies Financial Group lowered their price objective on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a research note on Tuesday, June 18th. TD Cowen increased their price target on Northrop Grumman from $440.00 to $515.00 and gave the company a “hold” rating in a report on Monday, July 29th. Morgan Stanley lifted their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Sanford C. Bernstein downgraded shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a research note on Friday, June 21st. Finally, BTIG Research initiated coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $523.20.

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 transaction of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related 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 value of $663,330.84. Following the sale, the vice president now owns 6,755 shares in the company, valued at $3,225,917.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas H. Jones sold 1,390 shares of the firm’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 transaction of $695,000.00. Following the transaction, the vice president now directly 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 valued at $1,393,028 in the last 90 days. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

Northrop Grumman stock opened at $522.36 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market capitalization of $77.30 billion, a PE ratio of 36.53, a P/E/G ratio of 2.36 and a beta of 0.34. The company has a 50 day moving average price of $494.20 and a 200-day moving average price of $469.25. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $528.76.

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

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were paid a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.58%. Northrop Grumman’s dividend payout ratio (DPR) is presently 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.