Great Valley Advisor Group Inc. Has $8.44 Million Stake in Northrop Grumman Co. (NYSE:NOC)

by · The Markets Daily

Great Valley Advisor Group Inc. lowered its stake in Northrop Grumman Co. (NYSE:NOC – Free Report) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,974 shares of the aerospace company’s stock after selling 796 shares during the period. Great Valley Advisor Group Inc.’s holdings in Northrop Grumman were worth $8,435,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Optimum Investment Advisors lifted its stake in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares during the period. Bank & Trust Co bought a new stake in shares of Northrop Grumman in the 2nd quarter valued at about $28,000. Meeder Asset Management Inc. boosted its stake in Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the third quarter valued at approximately $40,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Northrop Grumman in the 2nd quarter valued at $47,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Analyst Ratings Changes

NOC has been the subject of a number of research analyst reports. TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Morgan Stanley boosted their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Alembic Global Advisors downgraded Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft raised shares of 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 note on Monday, July 29th. Finally, Royal Bank of Canada lifted their price objective 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $550.56.

Check Out Our Latest Analysis on Northrop Grumman

Northrop Grumman Price Performance

Northrop Grumman stock opened at $496.93 on Friday. The stock has a 50-day moving average price of $520.60 and a two-hundred day moving average price of $486.74. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month 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 company has a market capitalization of $72.40 billion, a PE ratio of 30.79, a P/E/G ratio of 1.00 and a beta of 0.35.

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

Northrop Grumman Announces Dividend

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

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now owns 537 shares in the company, valued at $286,183.41. This 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 the SEC website. In the last three months, insiders have sold 1,289 shares of company stock valued at $685,273. 0.22% of the stock is currently owned by insiders.

About Northrop Grumman

(Free Report)

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.

See Also

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