AlphaCore Capital LLC Sells 30 Shares of Northrop Grumman Co. (NYSE:NOC)

AlphaCore Capital LLC lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,121 shares of the aerospace company’s stock after selling 30 shares during the period. Northrop Grumman accounts for about 0.8% of AlphaCore Capital LLC’s investment portfolio, making the stock its 20th biggest holding. AlphaCore Capital LLC’s holdings in Northrop Grumman were worth $3,760,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the company. AIA Group Ltd lifted its holdings in shares of Northrop Grumman by 20.0% in the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after buying an additional 1,242 shares during the period. Aviso Wealth Management lifted its stake in Northrop Grumman by 110.7% in the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock worth $827,000 after acquiring an additional 996 shares during the period. Susquehanna International Securities Ltd. bought a new position in Northrop Grumman during the 2nd quarter worth about $1,133,000. GAMMA Investing LLC increased its position in Northrop Grumman by 133.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,248 shares of the aerospace company’s stock valued at $980,000 after purchasing an additional 1,287 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Northrop Grumman by 40.8% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,660 shares of the aerospace company’s stock valued at $1,933,000 after purchasing an additional 1,060 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction 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 directly owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 1,289 shares of company stock valued at $685,273. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Up 0.9 %

Shares of NOC opened at $496.41 on Friday. The stock’s 50-day moving average price is $521.05 and its 200-day moving average price is $486.55. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $72.33 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 0.99 and a beta of 0.35. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

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

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given 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 1.66%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOC. Susquehanna lifted their price objective on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their target price on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $550.56.

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.