Bruce G. Allen Investments LLC Has $181,000 Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Bruce G. Allen Investments LLC decreased its position in Northrop Grumman Co. (NYSE:NOC) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 343 shares of the aerospace company’s stock after selling 30 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Northrop Grumman were worth $181,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Optimum Investment Advisors raised its position in shares of Northrop Grumman by 241.2% in 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 during the period. Bank & Trust Co bought a new position in Northrop Grumman during the second quarter worth $28,000. Meeder Asset Management Inc. increased its position in Northrop Grumman by 245.5% during 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 during the period. Rise Advisors LLC bought a new position in Northrop Grumman during the first quarter worth $38,000. Finally, Riverview Trust Co bought a new position in Northrop Grumman during the first quarter worth $47,000. Institutional investors own 83.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NOC shares. Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and boosted their target price for the stock from $474.00 to $575.00 in a research report on Monday, July 29th. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. UBS Group boosted their price target on shares of Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price target on shares of Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada boosted 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $523.20.

Northrop Grumman Stock Down 0.1 %

Shares of NYSE NOC opened at $532.23 on Thursday. The firm’s 50-day simple moving average is $515.48 and its 200 day simple moving average is $475.77. The company has a market cap of $78.76 billion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 2.44 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. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

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

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.55%. Northrop Grumman’s dividend payout ratio (DPR) is presently 57.62%.

Insider Activity

In related news, VP Thomas H. Jones sold 1,390 shares of the 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 completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Northrop Grumman 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 owns 6,755 shares of the company’s stock, valued at $3,225,917.80. This represents a 0.00 % decrease in their position. The transaction 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 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 transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their position. 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 in the last ninety days. 0.22% of the stock is owned by insiders.

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.