Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 12,673.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,916 shares of the aerospace company’s stock after acquiring an additional 1,901 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Northrop Grumman were worth $835,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the business’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 directly owns 4,634 shares in the company, valued at approximately $2,317,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the sale, 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 filing with the SEC, which can be accessed through this link. Also, VP Thomas H. Jones sold 1,389 shares of the company’s 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 transaction, the vice president now owns 6,755 shares in the company, valued at $3,225,917.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,846 shares of company stock worth $1,393,028. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Up 1.5 %

NOC stock opened at $533.20 on Tuesday. The company has a market cap of $78.91 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 2.36 and a beta of 0.34. The firm has a 50-day moving average of $498.09 and a two-hundred day moving average of $470.38. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $534.61. 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 quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. The firm had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $5.34 earnings per share. As a group, analysts forecast that Northrop Grumman Co. will post 25.14 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Morgan Stanley upped their price objective on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Jefferies Financial Group cut their price objective on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a report on Tuesday, June 18th. TD Cowen upped their target price on Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target for the company. in a report on Tuesday, August 27th. Finally, UBS Group increased their price objective 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $523.20.

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.