Glass Wealth Management Co LLC Buys 255 Shares of Northrop Grumman Co. (NYSE:NOC)

Glass Wealth Management Co LLC raised its stake in Northrop Grumman Co. (NYSE:NOC) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,025 shares of the aerospace company’s stock after purchasing an additional 255 shares during the period. Northrop Grumman makes up approximately 2.3% of Glass Wealth Management Co LLC’s holdings, making the stock its 12th biggest position. Glass Wealth Management Co LLC’s holdings in Northrop Grumman were worth $4,238,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Optimum Investment Advisors raised its position in shares of Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after buying an additional 41 shares during the last quarter. Bank & Trust Co bought a new position in Northrop Grumman during the second quarter valued at about $28,000. Meeder Asset Management Inc. raised its holdings 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 acquiring an additional 54 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth approximately $52,000. 83.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NOC shares. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Barclays raised their price objective on shares of Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Morgan Stanley lifted their price target on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Citigroup upped their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, TD Cowen raised Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $550.56.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 1,289 shares of company stock worth $685,273 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

NOC stock opened at $493.99 on Monday. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The firm has a market cap of $71.97 billion, a PE ratio of 30.61, a P/E/G ratio of 1.00 and a beta of 0.35. The business’s 50-day moving average price is $523.27 and its two-hundred day moving average price is $486.19.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the previous year, the business posted $6.18 EPS. Northrop Grumman’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts forecast that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is 51.05%.

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.