Envestnet Asset Management Inc. Sells 2,270 Shares of Northrop Grumman Co. (NYSE:NOC)

Envestnet Asset Management Inc. lessened its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,696 shares of the aerospace company’s stock after selling 2,270 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Northrop Grumman were worth $89,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Optimum Investment Advisors boosted its holdings in Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 41 shares in the last quarter. Bank & Trust Co acquired a new stake in Northrop Grumman in the 2nd quarter worth approximately $28,000. Frazier Financial Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. grew its position 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 purchasing an additional 54 shares during the last quarter. Finally, Rise Advisors LLC acquired a new position in Northrop Grumman during the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NOC shares. TD Cowen boosted their price objective on shares of Northrop Grumman from $440.00 to $515.00 and gave the company a “hold” rating in a report on Monday, July 29th. BTIG Research assumed coverage on Northrop Grumman in a report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 price objective on the stock. Wells Fargo & Company raised their price objective on Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Sanford C. Bernstein lowered Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a research report on Friday, June 21st. Finally, Morgan Stanley raised their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of “Hold” and an average target price of $523.20.

Northrop Grumman Stock Down 0.0 %

NOC opened at $521.07 on Wednesday. The company has a fifty day moving average of $490.48 and a two-hundred day moving average of $468.51. The stock has a market capitalization of $77.11 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 2.36 and a beta of 0.34. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $528.76. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, topping 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 company had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter in the prior year, the firm posted $5.34 EPS. Northrop Grumman’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts expect that Northrop Grumman Co. will post 25.14 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a $2.06 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.58%. Northrop Grumman’s dividend payout ratio is currently 57.62%.

Insider Buying and Selling

In other news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 6,755 shares in the company, valued at $3,225,917.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,846 shares of company stock valued at $1,393,028. 0.22% of the stock is owned by corporate insiders.

About Northrop Grumman

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.