Northrop Grumman Co. (NYSE:NOC) Shares Sold by Canandaigua National Corp

Canandaigua National Corp trimmed its holdings in Northrop Grumman Co. (NYSE:NOCGet Rating) by 17.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,852 shares of the aerospace company’s stock after selling 840 shares during the period. Canandaigua National Corp’s holdings in Northrop Grumman were worth $1,843,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NOC. Sanders Capital LLC grew its stake in Northrop Grumman by 37.4% during the 4th quarter. Sanders Capital LLC now owns 2,728,700 shares of the aerospace company’s stock worth $1,079,988,000 after buying an additional 742,676 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Northrop Grumman by 6,333.8% in the first quarter. 1832 Asset Management L.P. now owns 447,986 shares of the aerospace company’s stock worth $197,597,000 after purchasing an additional 441,023 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Northrop Grumman by 23.6% in the fourth quarter. Nuveen Asset Management LLC now owns 1,191,705 shares of the aerospace company’s stock worth $461,274,000 after purchasing an additional 227,433 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Northrop Grumman in the fourth quarter worth $60,124,000. Finally, Capital World Investors grew its stake in shares of Northrop Grumman by 12.0% in the first quarter. Capital World Investors now owns 733,172 shares of the aerospace company’s stock worth $327,889,000 after purchasing an additional 78,742 shares in the last quarter. 83.91% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Trading Up 0.0 %

Shares of NYSE NOC opened at $485.20 on Monday. The business has a fifty day simple moving average of $475.08 and a 200-day simple moving average of $463.80. The company has a market cap of $75.07 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 8.95 and a beta of 0.61. The company has a quick ratio of 1.20, a current ratio of 1.30 and a debt-to-equity ratio of 0.94. Northrop Grumman Co. has a 12 month low of $344.89 and a 12 month high of $497.20.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 29th were paid a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, August 26th. Northrop Grumman’s dividend payout ratio is currently 19.26%.

Insider Buying and Selling

In related news, VP Thomas L. Wilson, Jr. sold 582 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $482.00, for a total value of $280,524.00. Following the completion of the sale, the vice president now directly owns 2,094 shares of the company’s stock, valued at approximately $1,009,308. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Thomas L. Wilson, Jr. sold 582 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $482.00, for a total value of $280,524.00. Following the completion of the sale, the vice president now directly owns 2,094 shares of the company’s stock, valued at approximately $1,009,308. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kathy J. Warden sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $481.87, for a total value of $4,818,700.00. Following the completion of the transaction, the chief executive officer now directly owns 134,583 shares in the company, valued at $64,851,510.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,607 shares of company stock valued at $7,007,034. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the subject of several recent analyst reports. Cowen set a $510.00 price target on Northrop Grumman in a research note on Tuesday, July 19th. Royal Bank of Canada started coverage on Northrop Grumman in a report on Monday, August 29th. They issued a “sector perform” rating and a $550.00 price objective for the company. Morgan Stanley upped their price objective on Northrop Grumman from $521.00 to $530.00 and gave the company an “overweight” rating in a report on Tuesday, July 12th. Susquehanna Bancshares upped their price objective on Northrop Grumman from $530.00 to $560.00 and gave the company a “positive” rating in a report on Wednesday, August 31st. Finally, StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Saturday. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $487.75.

Northrop Grumman Profile

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Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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