D.A. Davidson & CO. Reduces Position in Northrop Grumman Co. (NYSE:NOC)

D.A. Davidson & CO. lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 16.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,940 shares of the aerospace company’s stock after selling 1,733 shares during the quarter. D.A. Davidson & CO.’s holdings in Northrop Grumman were worth $4,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Optimum Investment Advisors increased its holdings in Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 41 shares during the last quarter. Bank & Trust Co bought a new stake in Northrop Grumman in the 2nd quarter valued at $28,000. Meeder Asset Management Inc. increased its holdings in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 54 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at $40,000. Finally, Strategic Financial Concepts LLC bought a new stake in Northrop Grumman in the 2nd quarter valued at $47,000. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. UBS Group boosted their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada boosted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Susquehanna boosted their target price on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Trading Up 0.1 %

NYSE:NOC opened at $489.08 on Friday. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm has a market cap of $71.26 billion, a P/E ratio of 30.30, a P/E/G ratio of 0.98 and a beta of 0.35. The firm has a 50-day simple moving average of $517.90 and a 200-day simple moving average of $487.15.

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

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $2.06 per share. The ex-dividend date is Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.68%. Northrop Grumman’s payout ratio is 51.05%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 1,255 shares of company stock worth $667,727. 0.22% of the stock is owned by corporate insiders.

About Northrop Grumman

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.