Signet Financial Management LLC Lowers Holdings in Northrop Grumman Co. (NYSE:NOC)

Signet Financial Management LLC reduced its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 11.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,503 shares of the aerospace company’s stock after selling 1,473 shares during the period. Signet Financial Management LLC’s holdings in Northrop Grumman were worth $4,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Krane Funds Advisors LLC purchased a new stake in shares of Northrop Grumman during the 2nd quarter worth about $26,000. Massey Quick Simon & CO. LLC acquired a new position in Northrop Grumman in the 2nd quarter worth about $27,000. Trustcore Financial Services LLC purchased a new position in Northrop Grumman during the first quarter worth approximately $27,000. Glassman Wealth Services boosted its position in Northrop Grumman by 203.0% during the first quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 67 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new position in Northrop Grumman during the first quarter worth approximately $29,000. 83.11% of the stock is currently owned by institutional investors.

Shares of NOC traded up $2.71 during midday trading on Wednesday, hitting $357.80. The company had a trading volume of 948,965 shares, compared to its average volume of 644,584. The stock has a market cap of $60.21 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.46 and a beta of 0.79. The company’s 50 day moving average price is $360.75 and its 200 day moving average price is $312.91. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62. Northrop Grumman Co. has a 52 week low of $223.63 and a 52 week high of $377.34.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, topping the consensus estimate of $4.64 by $0.42. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.41 billion. During the same quarter last year, the company posted $4.50 earnings per share. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. Equities analysts anticipate that Northrop Grumman Co. will post 19.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, September 6th. Northrop Grumman’s dividend payout ratio is currently 24.75%.

In other Northrop Grumman news, VP Christopher T. Jones sold 5,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $353.19, for a total value of $1,765,950.00. Following the sale, the vice president now owns 67,422 shares of the company’s stock, valued at approximately $23,812,776.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kathy J. Warden sold 6,837 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the completion of the sale, the chief executive officer now directly owns 99,002 shares in the company, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

A number of research firms have recently commented on NOC. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 price objective for the company in a research report on Tuesday. Barclays lifted their price target on shares of Northrop Grumman from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Sanford C. Bernstein boosted their price target on shares of Northrop Grumman from $344.00 to $368.00 in a report on Thursday, July 25th. Bank of America restated a “buy” rating and set a $405.00 price objective (up from $355.00) on shares of Northrop Grumman in a research report on Thursday, July 25th. Finally, UBS Group increased their price objective on shares of Northrop Grumman from $300.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $347.60.

Northrop Grumman Company Profile

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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