Northrop Grumman Co. (NYSE:NOC) Shares Sold by Salomon & Ludwin LLC

Salomon & Ludwin LLC lowered its holdings in Northrop Grumman Co. (NYSE:NOC) by 78.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134 shares of the aerospace company’s stock after selling 488 shares during the period. Salomon & Ludwin LLC’s holdings in Northrop Grumman were worth $58,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Bogart Wealth LLC grew its stake in shares of Northrop Grumman by 14.1% in the 1st quarter. Bogart Wealth LLC now owns 170 shares of the aerospace company’s stock worth $81,000 after purchasing an additional 21 shares during the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of Northrop Grumman by 2.4% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 965 shares of the aerospace company’s stock worth $462,000 after purchasing an additional 23 shares during the last quarter. Capital Investment Advisors LLC grew its stake in shares of Northrop Grumman by 1.1% in the 2nd quarter. Capital Investment Advisors LLC now owns 2,068 shares of the aerospace company’s stock worth $902,000 after purchasing an additional 23 shares during the last quarter. Renasant Bank grew its stake in shares of Northrop Grumman by 3.3% in the 1st quarter. Renasant Bank now owns 743 shares of the aerospace company’s stock worth $356,000 after purchasing an additional 24 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its position in shares of Northrop Grumman by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 3,988 shares of the aerospace company’s stock worth $1,867,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on NOC shares. Barclays lifted their target price on shares of Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lifted their target price on shares of Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. BTIG Research started coverage on shares of Northrop Grumman in a research report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price on the stock. Jefferies Financial Group dropped their target price on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research report on Tuesday, June 18th. Finally, TD Cowen lifted their target price on shares of Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $521.33.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman 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 value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 6,755 shares in the company, valued at $3,225,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 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 $2,317,000. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Up 0.3 %

NYSE NOC traded up $1.65 during trading on Monday, reaching $510.99. The company’s stock had a trading volume of 226,673 shares, compared to its average volume of 941,289. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $75.62 billion, a PE ratio of 35.80, a PEG ratio of 2.26 and a beta of 0.32. The business has a 50-day moving average price of $460.85 and a 200-day moving average price of $460.76. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $512.29.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 5.61% and a return on equity of 25.44%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $5.34 earnings per share. On average, research analysts forecast that Northrop Grumman Co. will post 25.18 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 57.62%.

Northrop Grumman 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.