Northrop Grumman Co. (NYSE:NOC) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its position in Northrop Grumman Co. (NYSE:NOC) by 5.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,921 shares of the aerospace company’s stock after selling 121 shares during the period. Edgestream Partners L.P.’s holdings in Northrop Grumman were worth $837,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Optimum Investment Advisors increased its stake in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of Northrop Grumman in the second quarter valued at approximately $28,000. Meeder Asset Management Inc. raised its stake in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after buying an additional 54 shares during the period. Rise Advisors LLC purchased a new position in shares of Northrop Grumman during the 1st quarter valued at approximately $38,000. Finally, Riverview Trust Co acquired a new stake in Northrop Grumman in the 1st quarter valued at $47,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Trading Up 0.5 %

Shares of NOC opened at $525.13 on Friday. 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 50-day moving average price of $496.06 and a 200 day moving average price of $469.78. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $528.76. The firm has a market capitalization of $77.71 billion, a P/E ratio of 36.72, a P/E/G ratio of 2.36 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter in the prior year, the company posted $5.34 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts forecast that Northrop Grumman Co. will post 25.14 EPS for the current year.

Northrop Grumman Announces Dividend

The firm 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. This represents a $8.24 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 57.62%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NOC. Alembic Global Advisors cut shares of 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. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Sanford C. Bernstein lowered Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price objective for the company. in a research note on Friday, June 21st. TD Cowen raised their target price on Northrop Grumman from $440.00 to $515.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, BTIG Research started coverage on Northrop Grumman in a research note on Wednesday, June 26th. They issued a “buy” rating and a $565.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $523.20.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, 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 value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction that occurred 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 sale, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $695,000.00. Following the transaction, 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. In the last ninety days, insiders sold 2,846 shares of company stock worth $1,393,028. 0.22% of the stock is currently owned by company 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.