Advisors Asset Management Inc. Sells 379 Shares of Northrop Grumman Co. (NYSE:NOC)

Advisors Asset Management Inc. cut its position in Northrop Grumman Co. (NYSE:NOC) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,520 shares of the aerospace company’s stock after selling 379 shares during the quarter. Advisors Asset Management Inc.’s holdings in Northrop Grumman were worth $3,971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ascent Group LLC lifted its holdings in shares of Northrop Grumman by 0.5% during the second quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock worth $1,891,000 after buying an additional 20 shares in the last quarter. Cornell Pochily Investment Advisors Inc. boosted its holdings in Northrop Grumman by 0.9% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock valued at $1,131,000 after purchasing an additional 20 shares during the period. Asset Dedication LLC boosted its holdings in Northrop Grumman by 1.0% in the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after purchasing an additional 20 shares during the period. Foundations Investment Advisors LLC grew its position in shares of Northrop Grumman by 1.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after purchasing an additional 20 shares in the last quarter. Finally, PBMares Wealth Management LLC increased its holdings in shares of Northrop Grumman by 0.5% during the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after purchasing an additional 20 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 1,289 shares of company stock valued at $685,273. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Up 0.1 %

Shares of NOC opened at $496.93 on Friday. The stock has a market capitalization of $72.40 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 0.99 and a beta of 0.35. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The stock has a fifty day moving average of $520.60 and a 200-day moving average of $486.74.

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

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 51.05%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NOC. Citigroup increased their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley raised their price target on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Barclays upped their price objective on shares of Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada raised their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Susquehanna upped their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Northrop Grumman currently has an average rating of “Hold” and a consensus price target of $550.56.

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.