Lindbrook Capital LLC Trims Stock Holdings in Northrop Grumman Corporation (NYSE:NOC)

Lindbrook Capital LLC lowered its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 20.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,033 shares of the aerospace company’s stock after selling 268 shares during the period. Lindbrook Capital LLC’s holdings in Northrop Grumman were worth $529,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. grew its stake in Northrop Grumman by 3.0% during the first quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company’s stock valued at $330,000 after acquiring an additional 19 shares in the last quarter. Salvus Wealth Management LLC lifted its position in Northrop Grumman by 1.5% during the first quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company’s stock valued at $691,000 after purchasing an additional 20 shares during the last quarter. IAG Wealth Partners LLC lifted its position in Northrop Grumman by 8.4% during the first quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company’s stock valued at $139,000 after purchasing an additional 21 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in Northrop Grumman by 2.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock valued at $472,000 after purchasing an additional 22 shares during the last quarter. Finally, Keel Point LLC lifted its position in Northrop Grumman by 2.3% during the fourth quarter. Keel Point LLC now owns 1,069 shares of the aerospace company’s stock valued at $502,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In other news, VP Thomas H. Jones sold 729 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the transaction, the vice president owned 7,552 shares in the company, valued at $3,819,575.04. This represents a 8.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Fleming sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the sale, the vice president owned 1,827 shares in the company, valued at approximately $924,041.79. The trade was a 65.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,569 shares of company stock worth $8,323,150 over the last quarter. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NOC shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. The Goldman Sachs Group upgraded shares of Northrop Grumman from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $424.00 to $521.00 in a report on Friday, April 11th. Morgan Stanley boosted their price objective on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Truist Financial lowered their price objective on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, April 24th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $550.00.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $518.83 on Monday. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $555.57. The company’s 50-day moving average is $492.64 and its 200 day moving average is $487.55. The company has a market capitalization of $74.68 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 6.17 and a beta of 0.15. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.95.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.27). The firm had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. Sell-side analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were paid a dividend of $2.31 per share. The ex-dividend date was Monday, June 2nd. This represents a $9.24 annualized dividend and a yield of 1.78%. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.06. Northrop Grumman’s dividend payout ratio is currently 36.46%.

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.