Cadinha & Co. LLC Sells 360 Shares of Northrop Grumman Co. (NYSE:NOC)

Cadinha & Co. LLC cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 37.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 593 shares of the aerospace company’s stock after selling 360 shares during the period. Cadinha & Co. LLC’s holdings in Northrop Grumman were worth $313,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NOC. Optimum Investment Advisors grew its holdings in Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 41 shares during the period. Bank & Trust Co bought a new position in shares of Northrop Grumman in the second quarter worth approximately $28,000. Meeder Asset Management Inc. lifted its stake in shares of Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after buying an additional 54 shares in the last quarter. Rise Advisors LLC bought a new position in shares of Northrop Grumman in the first quarter worth approximately $38,000. Finally, Riverview Trust Co bought a new position in shares of Northrop Grumman in the first quarter worth approximately $47,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in 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. Deutsche Bank Aktiengesellschaft upgraded shares of 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 report on Monday, July 29th. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a research report on Tuesday, August 27th. Jefferies Financial Group dropped their price objective on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a report on Tuesday, June 18th. Finally, TD Cowen raised shares of Northrop Grumman to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $523.20.

Northrop Grumman Trading Down 0.6 %

NOC stock traded down $2.94 during mid-day trading on Thursday, hitting $529.29. 30,740 shares of the company were exchanged, compared to its average volume of 879,728. The business has a fifty day simple moving average of $516.44 and a 200-day simple moving average of $476.17. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The firm has a market capitalization of $78.33 billion, a P/E ratio of 37.22, a PEG ratio of 2.44 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (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 company had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. During the same quarter in the previous year, the firm earned $5.34 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts predict that Northrop Grumman Co. will post 25.14 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.56%. Northrop Grumman’s payout ratio is 57.62%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction 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 directly owns 4,634 shares in the company, valued at approximately $2,317,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Thomas H. Jones sold 1,390 shares of the 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 completion of the sale, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 value of $663,330.84. Following the completion of the transaction, the vice president now owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,879 shares of company stock valued at $1,410,703. 0.22% of the stock is owned by company 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.