Canandaigua National Bank & Trust Co. Lowers Position in Northrop Grumman Co. (NYSE:NOC)

Canandaigua National Bank & Trust Co. cut its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 73.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 456 shares of the aerospace company’s stock after selling 1,239 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Northrop Grumman were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Ascent Group LLC boosted its holdings in Northrop Grumman by 0.5% during the 2nd quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock valued at $1,891,000 after acquiring an additional 20 shares during the period. Turtle Creek Wealth Advisors LLC boosted its holdings in Northrop Grumman by 4.6% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 500 shares of the aerospace company’s stock valued at $218,000 after acquiring an additional 22 shares during the period. Oliver Lagore Vanvalin Investment Group raised its position in Northrop Grumman by 1.5% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 1,467 shares of the aerospace company’s stock valued at $640,000 after purchasing an additional 22 shares in the last quarter. Legacy Wealth Asset Management LLC raised its position in Northrop Grumman by 2.4% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 965 shares of the aerospace company’s stock valued at $462,000 after purchasing an additional 23 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its position in Northrop Grumman by 1.1% in the 2nd quarter. Capital Investment Advisors LLC now owns 2,068 shares of the aerospace company’s stock valued at $902,000 after purchasing an additional 23 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NOC shares. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and raised their target price for the stock from $474.00 to $575.00 in a research report on Monday, July 29th. BTIG Research began coverage on Northrop Grumman in a research report on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target on the stock. Royal Bank of Canada lifted their price target on Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Morgan Stanley lifted their price target on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group lowered their target price on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research note on Tuesday, June 18th. One investment 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. According to MarketBeat, Northrop Grumman currently has an average rating of “Hold” and a consensus price target of $523.20.

Insider Buying and Selling

In other news, VP Thomas H. Jones sold 1,390 shares of the business’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 completion of the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Thomas H. Jones sold 1,390 shares of the business’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 completion of the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The stock was 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 directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,846 shares of company stock valued at $1,393,028. 0.22% of the stock is owned by insiders.

Northrop Grumman Stock Down 0.2 %

Northrop Grumman stock opened at $536.74 on Friday. The stock’s 50 day moving average price is $513.44 and its 200 day moving average price is $474.82. The company has a market cap of $79.43 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $555.57. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.93 by $0.43. The firm had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. Northrop Grumman’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.34 earnings per share. On average, sell-side analysts predict that Northrop Grumman Co. will post 25.14 EPS 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 dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.54%. Northrop Grumman’s dividend payout ratio is presently 57.62%.

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.