TriaGen Wealth Management LLC Cuts Holdings in Northrop Grumman Co. (NYSE:NOC)

TriaGen Wealth Management LLC trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 27.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 669 shares of the aerospace company’s stock after selling 255 shares during the period. TriaGen Wealth Management LLC’s holdings in Northrop Grumman were worth $353,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NOC. Optimum Investment Advisors raised its stake in shares of Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Northrop Grumman during the 2nd quarter worth approximately $28,000. Meeder Asset Management Inc. increased its stake in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. Riverview Trust Co purchased a new position in Northrop Grumman in the 1st quarter valued at approximately $47,000. Finally, Strategic Financial Concepts LLC purchased a new position in Northrop Grumman in the 2nd quarter valued at approximately $47,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Trading Up 0.5 %

Shares of NOC stock traded up $2.82 during mid-day trading on Friday, hitting $530.79. 1,245,937 shares of the company’s stock were exchanged, compared to its average volume of 875,420. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The stock has a market cap of $78.55 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 2.44 and a beta of 0.34. 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 stock has a 50-day simple moving average of $521.74 and a two-hundred day simple moving average of $478.84.

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, beating 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 firm had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter last year, the firm earned $5.34 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts expect that Northrop Grumman Co. will post 25.16 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 57.62%.

Insider Activity at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction 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 transaction, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northrop Grumman 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 value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 6,755 shares in the company, valued at $3,225,917.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,879 shares of company stock worth $1,410,703. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NOC shares. Wells Fargo & Company raised their price objective on Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and raised their price target for the stock from $474.00 to $575.00 in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Barclays raised their price target on Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $535.00.

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.