Northrop Grumman Co. (NYSE:NOC) Shares Sold by Richardson Financial Services Inc.

Richardson Financial Services Inc. trimmed its stake in Northrop Grumman Co. (NYSE:NOC) by 4.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 984 shares of the aerospace company’s stock after selling 43 shares during the quarter. Richardson Financial Services Inc.’s holdings in Northrop Grumman were worth $429,000 at the end of the most recent quarter.

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

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $521.63 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $492.39 and a 200-day simple moving average of $468.88. The stock has a market capitalization of $77.20 billion, a price-to-earnings ratio of 36.48, a PEG 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 $528.76.

Northrop Grumman (NYSE:NOC) last released 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%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.34 EPS. On average, sell-side analysts expect that Northrop Grumman Co. will post 25.14 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently declared 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 1.58%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is currently 57.62%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Sanford C. Bernstein cut shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target for the company. in a report on Friday, June 21st. 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. Wells Fargo & Company upped their price target on shares of Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Finally, BTIG Research assumed coverage on Northrop Grumman in a research note on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $523.20.

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 transaction of $663,330.84. Following the transaction, the vice president now owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the firm’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 directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the business’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 owns 4,634 shares in the company, valued at approximately $2,317,000. The disclosure for this sale can be found here. Insiders sold a total of 2,846 shares of company stock worth $1,393,028 over the last three months. 0.22% of the stock is currently owned by insiders.

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.