Prudent Man Advisors LLC Sells 35 Shares of Northrop Grumman Co. (NYSE:NOC)

Prudent Man Advisors LLC trimmed its holdings in Northrop Grumman Co. (NYSE:NOCFree Report) by 3.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,149 shares of the aerospace company’s stock after selling 35 shares during the period. Prudent Man Advisors LLC’s holdings in Northrop Grumman were worth $506,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank purchased a new position in shares of Northrop Grumman during the 2nd quarter valued at approximately $59,403,000. Phraction Management LLC acquired a new position in shares of Northrop Grumman in the third quarter worth about $677,000. Brighton Jones LLC raised its position in shares of Northrop Grumman by 22.2% in the second quarter. Brighton Jones LLC now owns 1,228 shares of the aerospace company’s stock worth $559,000 after acquiring an additional 223 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Northrop Grumman by 41.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 97,679 shares of the aerospace company’s stock worth $42,998,000 after acquiring an additional 28,488 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Northrop Grumman by 82.6% during the 3rd quarter. SG Americas Securities LLC now owns 16,068 shares of the aerospace company’s stock valued at $7,073,000 after acquiring an additional 7,269 shares during the period. 82.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

NOC opened at $454.00 on Monday. Northrop Grumman Co. has a twelve month low of $414.56 and a twelve month high of $496.89. The firm has a market capitalization of $68.12 billion, a PE ratio of 33.75, a PEG ratio of 6.08 and a beta of 0.35. The company has a current ratio of 1.15, a quick ratio of 1.05 and a debt-to-equity ratio of 0.93. The firm’s 50-day moving average price is $464.76 and its 200 day moving average price is $455.62.

Northrop Grumman (NYSE:NOCGet Free Report) last released its earnings results on Thursday, January 25th. The aerospace company reported $6.27 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.47. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.43 billion. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $7.50 EPS. As a group, sell-side analysts expect that Northrop Grumman Co. will post 24.52 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Monday, November 27th were issued a $1.87 dividend. This represents a $7.48 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Friday, November 24th. Northrop Grumman’s payout ratio is currently 55.49%.

Wall Street Analyst Weigh In

NOC has been the subject of a number of analyst reports. Robert W. Baird reduced their price target on Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 26th. Wolfe Research downgraded Northrop Grumman from a “peer perform” rating to an “underperform” rating and set a $450.00 target price for the company. in a research note on Thursday, December 14th. TheStreet cut shares of Northrop Grumman from a “b+” rating to a “c+” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. upped their price objective on shares of Northrop Grumman from $430.00 to $435.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. Finally, Susquehanna dropped their target price on shares of Northrop Grumman from $560.00 to $540.00 and set a “positive” rating on the stock in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $494.33.

Check Out Our Latest Research Report on NOC

Northrop Grumman Company Profile

(Free Report)

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems in the United States and internationally. 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.

Further Reading

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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