BCGM Wealth Management LLC Purchases 62 Shares of Northrop Grumman Co. (NYSE:NOC)

BCGM Wealth Management LLC raised its position in Northrop Grumman Co. (NYSE:NOC) by 1.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,312 shares of the aerospace company’s stock after purchasing an additional 62 shares during the period. Northrop Grumman accounts for 1.1% of BCGM Wealth Management LLC’s holdings, making the stock its 27th biggest position. BCGM Wealth Management LLC’s holdings in Northrop Grumman were worth $3,333,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Capital International Investors lifted its holdings in Northrop Grumman by 5.6% during the first quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock worth $5,623,128,000 after acquiring an additional 621,636 shares during the period. Van ECK Associates Corp increased its position in shares of Northrop Grumman by 1,915.9% during the 2nd quarter. Van ECK Associates Corp now owns 438,521 shares of the aerospace company’s stock valued at $191,173,000 after purchasing an additional 416,768 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Northrop Grumman during the 2nd quarter worth $90,177,000. Marshall Wace LLP purchased a new position in shares of Northrop Grumman in the 2nd quarter worth about $74,206,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Northrop Grumman by 113.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company’s stock worth $129,409,000 after buying an additional 157,854 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on NOC shares. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a report on Tuesday, August 27th. Barclays increased their price objective on Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Stock Down 1.3 %

NOC opened at $493.99 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The firm has a market capitalization of $71.97 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 1.00 and a beta of 0.35. The company has a fifty day moving average price of $523.27 and a 200-day moving average price of $486.19.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. During the same period last year, the firm posted $6.18 earnings per share. Northrop Grumman’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts expect that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $2.06 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.67%. Northrop Grumman’s payout ratio is 51.05%.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,289 shares of company stock valued at $685,273 over the last three months. Insiders own 0.22% of the company’s stock.

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.