Envestnet Asset Management Inc. Sells 2,270 Shares of Northrop Grumman Co. (NYSE:NOC)

Envestnet Asset Management Inc. trimmed its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 205,696 shares of the aerospace company’s stock after selling 2,270 shares during the period. Envestnet Asset Management Inc. owned 0.14% of Northrop Grumman worth $89,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NOC. Capital International Investors increased its holdings in shares of Northrop Grumman by 5.6% in the first quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock worth $5,623,128,000 after purchasing an additional 621,636 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Northrop Grumman by 4.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock worth $2,218,132,000 after acquiring an additional 211,459 shares during the last quarter. Capital World Investors raised its holdings in shares of Northrop Grumman by 0.6% during the 1st quarter. Capital World Investors now owns 3,688,511 shares of the aerospace company’s stock worth $1,765,543,000 after acquiring an additional 23,398 shares in the last quarter. Sanders Capital LLC boosted its position in shares of Northrop Grumman by 3.7% during the 4th quarter. Sanders Capital LLC now owns 2,271,466 shares of the aerospace company’s stock valued at $1,063,364,000 after acquiring an additional 80,887 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Northrop Grumman by 1.3% in the fourth quarter. Northern Trust Corp now owns 1,260,599 shares of the aerospace company’s stock valued at $590,137,000 after purchasing an additional 16,275 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on NOC. Barclays increased their price objective on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. TD Cowen lifted their price target on Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. UBS Group upped their price objective on Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Morgan Stanley lifted their target price on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman presently has a consensus rating of “Hold” and an average target price of $523.20.

Northrop Grumman Trading Down 0.0 %

NYSE NOC opened at $521.07 on Wednesday. The stock has a market cap of $77.11 billion, a PE ratio of 36.44, a PEG ratio of 2.36 and a beta of 0.34. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $528.76. The company’s 50-day moving average price is $490.48 and its 200-day moving average price is $468.51. 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 issued its earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping 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 business 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 firm earned $5.34 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts forecast that Northrop Grumman Co. will post 25.14 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is 57.62%.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’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 transaction, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,846 shares of company stock valued at $1,393,028. 0.22% of the stock is currently owned by corporate insiders.

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.