Summit Trail Advisors LLC Has $390,000 Position in Northrop Grumman Co. (NYSE:NOC)

Summit Trail Advisors LLC raised its stake in Northrop Grumman Co. (NYSE:NOC) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 895 shares of the aerospace company’s stock after buying an additional 80 shares during the quarter. Summit Trail Advisors LLC’s holdings in Northrop Grumman were worth $390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC grew its stake in Northrop Grumman by 10.5% in the fourth quarter. Accretive Wealth Partners LLC now owns 528 shares of the aerospace company’s stock valued at $247,000 after purchasing an additional 50 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in Northrop Grumman by 21.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 557 shares of the aerospace company’s stock valued at $241,000 after purchasing an additional 100 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Northrop Grumman by 1.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 20,185 shares of the aerospace company’s stock valued at $9,449,000 after purchasing an additional 230 shares during the period. 3Chopt Investment Partners LLC acquired a new stake in Northrop Grumman in the 4th quarter worth $882,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Northrop Grumman by 64.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,538 shares of the aerospace company’s stock worth $4,465,000 after purchasing an additional 3,753 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analysts Set New Price Targets

NOC has been the subject of several research reports. Royal Bank of Canada increased their target price on shares of Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Alembic Global Advisors downgraded Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research report on Tuesday, August 27th. TD Cowen boosted their price objective on Northrop Grumman from $440.00 to $515.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Morgan Stanley upped their target price on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group decreased their price target on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $523.20.

Northrop Grumman Stock Performance

NYSE:NOC opened at $533.20 on Tuesday. The stock has a market capitalization of $78.91 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 2.36 and a beta of 0.34. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $534.61. The firm has a 50 day moving average of $498.09 and a 200-day moving average of $470.38. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03.

Northrop Grumman (NYSE:NOC) last announced its 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 company had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter in the prior year, the business earned $5.34 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Northrop Grumman Co. will post 25.14 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is presently 57.62%.

Insiders Place Their Bets

In other news, VP Thomas H. Jones sold 1,389 shares of the 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 sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction 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 owns 4,634 shares of the company’s stock, valued at $2,317,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction dated 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. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,846 shares of company stock valued at $1,393,028. Insiders own 0.22% of the company’s stock.

Northrop Grumman 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.