Procyon Advisors LLC Boosts Stake in Northrop Grumman Co. (NYSE:NOC)

Procyon Advisors LLC boosted its holdings in Northrop Grumman Co. (NYSE:NOCFree Report) by 4.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,125 shares of the aerospace company’s stock after buying an additional 159 shares during the period. Procyon Advisors LLC’s holdings in Northrop Grumman were worth $2,178,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Optimum Investment Advisors increased its stake in Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co purchased a new stake in Northrop Grumman in the 2nd quarter worth $28,000. Meeder Asset Management Inc. increased its stake in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after buying an additional 54 shares in the last quarter. Rise Advisors LLC purchased a new stake in Northrop Grumman in the 1st quarter worth $38,000. Finally, Riverview Trust Co purchased a new stake in Northrop Grumman in the 1st quarter worth $47,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NOC opened at $534.50 on Tuesday. The business has a fifty day moving average of $518.63 and a 200 day moving average of $477.37. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The stock has a market cap of $79.10 billion, a P/E ratio of 37.38, a PEG ratio of 2.44 and a beta of 0.34.

Northrop Grumman (NYSE:NOCGet Free Report) last posted its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter in the previous year, the business earned $5.34 EPS. Northrop Grumman’s revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northrop Grumman Co. will post 25.16 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 57.62%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday. Barclays raised their price target on Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target for the company. in a report on Tuesday, August 27th. Finally, BTIG Research began coverage on Northrop Grumman in a report on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $535.00.

Check Out Our Latest Analysis on Northrop Grumman

Insider Activity at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,879 shares of company stock worth $1,410,703 in the last quarter. 0.22% of the stock is owned by company insiders.

About Northrop Grumman

(Free Report)

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.

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

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