SVB Wealth LLC Sells 751 Shares of Northrop Grumman Co. (NYSE:NOC)

SVB Wealth LLC trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 15.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,182 shares of the aerospace company’s stock after selling 751 shares during the quarter. SVB Wealth LLC’s holdings in Northrop Grumman were worth $2,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management boosted its holdings in Northrop Grumman by 24.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,586 shares of the aerospace company’s stock worth $742,000 after acquiring an additional 312 shares in the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of Northrop Grumman by 11.4% during the fourth quarter. SeaCrest Wealth Management LLC now owns 1,307 shares of the aerospace company’s stock valued at $614,000 after buying an additional 134 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $217,000. Global Retirement Partners LLC grew its stake in Northrop Grumman by 110.8% during the 4th quarter. Global Retirement Partners LLC now owns 2,007 shares of the aerospace company’s stock valued at $959,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Gradient Investments LLC raised its stake in shares of Northrop Grumman by 5.1% in the fourth quarter. Gradient Investments LLC now owns 493 shares of the aerospace company’s stock worth $231,000 after purchasing an additional 24 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NOC. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target for the company in a research report on Monday, April 22nd. UBS Group increased their price target on Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada upped their target price on Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research note on Friday. Barclays boosted their price target on Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, TD Cowen lifted their target price on shares of Northrop Grumman from $440.00 to $515.00 and gave the company a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman currently has an average rating of “Hold” and an average price target of $516.29.

Northrop Grumman Stock Up 0.8 %

Shares of NYSE:NOC traded up $3.62 during trading on Tuesday, hitting $480.91. The company’s stock had a trading volume of 59,178 shares, compared to its average volume of 968,640. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market capitalization of $70.33 billion, a PE ratio of 33.40, a P/E/G ratio of 2.20 and a beta of 0.33. The business has a 50 day moving average price of $441.64 and a two-hundred day moving average price of $455.30. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, topping the consensus estimate of $5.93 by $0.43. The business had revenue of $10.22 billion for the quarter, compared to analyst estimates of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $5.34 EPS. As a group, research analysts expect that Northrop Grumman Co. will post 25.1 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were paid a dividend of $2.06 per share. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. This represents a $8.24 annualized dividend and a yield of 1.71%. The ex-dividend date was Friday, May 24th. Northrop Grumman’s dividend payout ratio (DPR) is currently 57.62%.

Insider Activity at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by corporate 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.