AlphaCore Capital LLC Sells 30 Shares of Northrop Grumman Co. (NYSE:NOC)

by · The Markets Daily

AlphaCore Capital LLC reduced its holdings in Northrop Grumman Co. (NYSE:NOC – Free Report) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,121 shares of the aerospace company’s stock after selling 30 shares during the quarter. Northrop Grumman accounts for about 0.8% of AlphaCore Capital LLC’s investment portfolio, making the stock its 20th largest position. AlphaCore Capital LLC’s holdings in Northrop Grumman were worth $3,760,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Optimum Investment Advisors grew its position in 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 acquiring an additional 41 shares during the last quarter. Bank & Trust Co bought a new position in shares of Northrop Grumman during the 2nd quarter valued at $28,000. Meeder Asset Management Inc. raised its position in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the third quarter worth $40,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Northrop Grumman during the second quarter valued at about $47,000. Institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and lifted their target price for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Morgan Stanley lifted their price objective on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Wells Fargo & Company upped their target price on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. UBS Group raised their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, 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. One investment 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. According to MarketBeat.com, Northrop Grumman has an average rating of “Hold” and an average price target of $550.56.

Check Out Our Latest Stock Report on Northrop Grumman

Northrop Grumman Stock Performance

NYSE NOC opened at $496.41 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The business has a 50 day simple moving average of $521.05 and a two-hundred day simple moving average of $486.55. The stock has a market capitalization of $72.33 billion, a PE ratio of 30.76, a P/E/G ratio of 0.99 and a beta of 0.35.

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

Northrop Grumman Dividend Announcement

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

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction that occurred 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 owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 1,289 shares of company stock worth $685,273. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Profile

(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.

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