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

Canvas Wealth Advisors LLC lowered its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Brookstone Capital Management increased its stake in Northrop Grumman by 121.0% during the first quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company’s stock worth $3,400,000 after acquiring an additional 3,635 shares during the last quarter. First United Bank & Trust boosted its holdings in shares of Northrop Grumman by 641.0% in the 2nd quarter. First United Bank & Trust now owns 778 shares of the aerospace company’s stock worth $389,000 after purchasing an additional 673 shares during the period. Golden State Wealth Management LLC increased its position in shares of Northrop Grumman by 206.2% during the 1st quarter. Golden State Wealth Management LLC now owns 2,771 shares of the aerospace company’s stock valued at $1,421,000 after purchasing an additional 1,866 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Northrop Grumman by 18.8% during the 1st quarter. Bessemer Group Inc. now owns 795,839 shares of the aerospace company’s stock valued at $407,477,000 after purchasing an additional 125,693 shares during the last quarter. Finally, Fortem Financial Group LLC raised its holdings in Northrop Grumman by 118.2% during the 1st quarter. Fortem Financial Group LLC now owns 1,104 shares of the aerospace company’s stock valued at $565,000 after buying an additional 598 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Trading Up 1.2%

Shares of NOC opened at $601.92 on Tuesday. The firm has a market capitalization 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. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $640.90. The company has a 50-day moving average of $592.91 and a 200 day moving average of $538.16.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the prior year, the firm earned $6.36 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were given a dividend of $2.31 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a yield of 1.5%. Northrop Grumman’s payout ratio is 34.06%.

Analyst Ratings Changes

Several research analysts have commented on NOC shares. Wall Street Zen raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Bank of America raised their target price on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft set a $700.00 price target on shares of Northrop Grumman and gave the company a “buy” rating in a report on Wednesday, October 8th. Barclays raised their price objective on shares of Northrop Grumman from $500.00 to $580.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. Finally, Morgan Stanley boosted their target price on Northrop Grumman from $625.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and a consensus target price of $617.50.

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.