Octavia Wealth Advisors LLC Cuts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Octavia Wealth Advisors LLC lowered its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 20.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 576 shares of the aerospace company’s stock after selling 150 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Northrop Grumman were worth $251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bogart Wealth LLC increased its stake in shares of Northrop Grumman by 14.1% during 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. Turtle Creek Wealth Advisors LLC grew its holdings in Northrop Grumman by 4.6% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 500 shares of the aerospace company’s stock valued at $218,000 after purchasing an additional 22 shares during the period. Legacy Wealth Asset Management LLC increased its position in Northrop Grumman by 2.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 965 shares of the aerospace company’s stock worth $462,000 after buying an additional 23 shares during the last quarter. Capital Investment Advisors LLC lifted its position in shares of Northrop Grumman by 1.1% during the 2nd quarter. Capital Investment Advisors LLC now owns 2,068 shares of the aerospace company’s stock valued at $902,000 after buying an additional 23 shares during the last quarter. Finally, Renasant Bank lifted its position in shares of Northrop Grumman by 3.3% during the 1st quarter. Renasant Bank now owns 743 shares of the aerospace company’s stock valued at $356,000 after buying an additional 24 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction of $663,330.84. Following the transaction, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. The disclosure for this sale can be found here. Insiders sold 2,813 shares of company stock valued at $1,375,877 over the last three months. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Up 0.3 %

NOC opened at $522.69 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The business’s fifty day simple moving average is $473.24 and its 200 day simple moving average is $464.11. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $526.66. The stock has a market cap of $77.35 billion, a PE ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 0.32.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. 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 company posted $5.34 EPS. Northrop Grumman’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, research analysts expect that Northrop Grumman Co. will post 25.15 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, September 3rd. Northrop Grumman’s payout ratio is presently 57.62%.

Wall Street Analyst Weigh In

NOC has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Sanford C. Bernstein lowered shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price objective for the company. in a research note on Friday, June 21st. TD Cowen boosted 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, July 29th. Alembic Global Advisors lowered Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target for the company. in a report on Tuesday, August 27th. Finally, StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of “Hold” and an average price target of $523.20.

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.