Segment Wealth Management LLC Has $425,000 Position in Northrop Grumman Co. (NYSE:NOC)

Segment Wealth Management LLC lowered its stake in Northrop Grumman Co. (NYSE:NOC) by 3.7% in the third quarter, HoldingsChannel.com reports. The firm owned 805 shares of the aerospace company’s stock after selling 31 shares during the quarter. Segment Wealth Management LLC’s holdings in Northrop Grumman were worth $425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors boosted its stake in Northrop Grumman by 5.6% in the first quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock valued at $5,623,128,000 after acquiring an additional 621,636 shares during the last quarter. Van ECK Associates Corp boosted its stake in Northrop Grumman by 1,915.9% in the second quarter. Van ECK Associates Corp now owns 438,521 shares of the aerospace company’s stock valued at $191,173,000 after acquiring an additional 416,768 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Northrop Grumman by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock valued at $2,218,132,000 after acquiring an additional 211,459 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Northrop Grumman in the second quarter valued at approximately $90,177,000. Finally, Marshall Wace LLP bought a new position in Northrop Grumman in the second quarter valued at approximately $74,206,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research report on Tuesday, August 27th. Citigroup lifted their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays lifted their price target on shares of Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, UBS Group lifted their price target on shares of Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $535.00.

Insider Buying and Selling at Northrop Grumman

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

Northrop Grumman Stock Down 0.7 %

Shares of NOC stock opened at $516.40 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The firm’s fifty day moving average price is $522.88 and its two-hundred day moving average price is $480.30. The firm has a market capitalization of $76.42 billion, a P/E ratio of 36.11, a PEG ratio of 2.44 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $10.02 billion. During the same period in the previous year, the business earned $5.34 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. On average, equities analysts predict that Northrop Grumman Co. will post 25.16 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

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

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.