Canvas Wealth Advisors LLC Cuts Stock Holdings in Northrop Grumman Corporation $NOC

Canvas Wealth Advisors LLC lowered its holdings in Northrop Grumman Corporation (NYSE:NOC) by 4.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 535 shares of the aerospace company’s stock after selling 23 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Northrop Grumman were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOC. IMA Advisory Services Inc. bought a new stake in Northrop Grumman during the 1st quarter valued at $27,000. Saudi Central Bank bought a new stake in Northrop Grumman during the first quarter valued at about $28,000. Banque Cantonale Vaudoise purchased a new position in Northrop Grumman in the first quarter valued at about $30,000. Flaharty Asset Management LLC bought a new position in Northrop Grumman in the first quarter worth about $36,000. Finally, Hollencrest Capital Management raised its holdings in Northrop Grumman by 790.0% in the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company’s stock worth $45,000 after purchasing an additional 79 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Northrop Grumman from $625.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Barclays lifted their price target on shares of Northrop Grumman from $500.00 to $580.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Wall Street Zen upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, September 5th. JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $480.00 to $585.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft set a $700.00 target price on Northrop Grumman and gave the company a “buy” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $617.50.

Northrop Grumman Price Performance

NYSE NOC opened at $601.92 on Tuesday. The company has a market cap of $86.18 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 5.78 and a beta of 0.10. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock’s fifty day moving average price is $592.91 and its 200 day moving average price is $538.16. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $640.90.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.84 by $0.27. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.36 EPS. As a group, equities research analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were issued a $2.31 dividend. This represents a $9.24 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman’s dividend payout ratio is 34.06%.

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.