EP Wealth Advisors LLC Sells 224 Shares of Northrop Grumman Co. (NYSE:NOC)

EP Wealth Advisors LLC reduced its holdings in Northrop Grumman Co. (NYSE:NOC) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,040 shares of the aerospace company’s stock after selling 224 shares during the quarter. EP Wealth Advisors LLC’s holdings in Northrop Grumman were worth $2,275,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Palladium Partners LLC boosted its position in shares of Northrop Grumman by 0.5% during the second quarter. Palladium Partners LLC now owns 5,804 shares of the aerospace company’s stock valued at $1,875,000 after purchasing an additional 30 shares in the last quarter. Financial Advocates Investment Management boosted its position in shares of Northrop Grumman by 1.2% during the second quarter. Financial Advocates Investment Management now owns 2,515 shares of the aerospace company’s stock valued at $813,000 after purchasing an additional 30 shares in the last quarter. Patten Group Inc. boosted its position in shares of Northrop Grumman by 1.2% during the second quarter. Patten Group Inc. now owns 2,522 shares of the aerospace company’s stock valued at $815,000 after purchasing an additional 31 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of Northrop Grumman by 0.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,161 shares of the aerospace company’s stock valued at $1,345,000 after purchasing an additional 32 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Northrop Grumman by 1.0% during the second quarter. Moors & Cabot Inc. now owns 3,418 shares of the aerospace company’s stock valued at $1,101,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 83.10% of the company’s stock.

NOC has been the topic of several research reports. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 price target on the stock in a research report on Tuesday, September 10th. Sanford C. Bernstein lifted their price target on Northrop Grumman from $344.00 to $368.00 in a research report on Thursday, July 25th. Bank of America reissued a “buy” rating and issued a $405.00 target price (up from $355.00) on shares of Northrop Grumman in a report on Thursday, July 25th. ValuEngine raised Northrop Grumman from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, Morgan Stanley raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $335.00 to $418.00 in a report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Northrop Grumman has a consensus rating of “Buy” and a consensus price target of $347.60.

Northrop Grumman stock traded down $4.91 during mid-day trading on Tuesday, hitting $369.88. The company had a trading volume of 31,166 shares, compared to its average volume of 1,084,947. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 1.62. The stock’s 50 day moving average price is $368.16 and its two-hundred day moving average price is $321.20. Northrop Grumman Co. has a 12 month low of $223.63 and a 12 month high of $383.89. The company has a market capitalization of $63.41 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.52 and a beta of 0.79.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, September 6th. Northrop Grumman’s dividend payout ratio is currently 24.75%.

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

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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