Ieq Capital LLC Sells 373 Shares of Northrop Grumman Co. (NYSE:NOC)

Ieq Capital LLC lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,889 shares of the aerospace company’s stock after selling 373 shares during the quarter. Ieq Capital LLC’s holdings in Northrop Grumman were worth $3,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NOC. Gulf International Bank UK Ltd increased its holdings in shares of Northrop Grumman by 1,402.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock worth $6,186,000 after purchasing an additional 12,065 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Northrop Grumman in the 1st quarter worth about $870,000. Norden Group LLC purchased a new position in Northrop Grumman in the 1st quarter worth about $778,000. Fisher Asset Management LLC lifted its stake in Northrop Grumman by 7,574.5% during the 4th quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock valued at $57,879,000 after acquiring an additional 122,026 shares during the period. Finally, Red Mountain Financial LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter valued at about $264,000. Institutional investors own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In related 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 sale, the vice president now owns 6,755 shares in the company, valued at $3,225,917.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Northrop Grumman 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 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 in the company, valued at $2,317,000. The disclosure for this sale can be found here. Insiders have sold 2,846 shares of company stock valued at $1,393,028 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

NYSE:NOC opened at $525.13 on Friday. The stock has a market cap of $77.71 billion, a PE ratio of 36.72, a P/E/G ratio of 2.36 and a beta of 0.34. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The business’s 50-day simple moving average is $496.06 and its two-hundred day simple moving average is $469.78. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 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 for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. The firm had revenue of $10.22 billion during the quarter, compared to analyst estimates of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. Northrop Grumman’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.34 earnings per share. As a group, analysts forecast that Northrop Grumman Co. will post 25.14 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 57.62%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. BTIG Research initiated coverage on Northrop Grumman in a report on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target on the stock. Royal Bank of Canada lifted their price objective on Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Sanford C. Bernstein downgraded Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a report on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and boosted their price target for the company from $474.00 to $575.00 in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $523.20.

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.