Courier Capital LLC Reduces Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Courier Capital LLC cut its position in shares of Northrop Grumman Co. (NYSE:NOC) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,078 shares of the aerospace company’s stock after selling 32 shares during the period. Courier Capital LLC’s holdings in Northrop Grumman were worth $2,682,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NOC. Optimum Investment Advisors lifted 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 valued at $25,000 after acquiring an additional 41 shares during the last quarter. Bank & Trust Co acquired a new position in shares of Northrop Grumman in the 2nd quarter valued at $28,000. Meeder Asset Management Inc. grew its holdings in shares of 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 period. Strategic Financial Concepts LLC acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth about $47,000. Finally, Larson Financial Group LLC raised its holdings in Northrop Grumman by 281.5% in the 1st quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock valued at $49,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NOC. Royal Bank of Canada lifted their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Alembic Global Advisors lowered Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research note on Tuesday, August 27th. Finally, BTIG Research initiated coverage on Northrop Grumman in a research report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman presently has an average rating of “Hold” and an average target price of $535.00.

Northrop Grumman Stock Performance

Shares of NOC opened at $516.40 on Thursday. The company has a market capitalization of $76.42 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The stock has a 50 day moving average price of $522.88 and a 200 day moving average price of $480.30.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $10.02 billion. During the same period last year, the firm posted $5.34 EPS. The company’s revenue was up 6.7% on a year-over-year basis. Research analysts predict that Northrop Grumman Co. will post 25.16 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 57.62%.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the firm’s 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 transaction, the vice president now owns 4,634 shares in the company, valued at $2,317,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,879 shares of company stock worth $1,410,703. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman 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.