Atria Wealth Solutions Inc. Trims Position in Northrop Grumman Corporation (NYSE:NOC)

Atria Wealth Solutions Inc. cut its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,311 shares of the aerospace company's stock after selling 1,589 shares during the period. Atria Wealth Solutions Inc.'s holdings in Northrop Grumman were worth $4,767,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Empower Advisory Group LLC boosted its position in shares of Northrop Grumman by 7.3% during the first quarter. Empower Advisory Group LLC now owns 854 shares of the aerospace company's stock valued at $437,000 after purchasing an additional 58 shares in the last quarter. Cary Street Partners Financial LLC boosted its position in shares of Northrop Grumman by 3.1% during the first quarter. Cary Street Partners Financial LLC now owns 2,393 shares of the aerospace company's stock valued at $1,225,000 after purchasing an additional 73 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of Northrop Grumman by 5.8% during the first quarter. Thoroughbred Financial Services LLC now owns 1,231 shares of the aerospace company's stock valued at $630,000 after purchasing an additional 68 shares in the last quarter. Probity Advisors Inc. boosted its position in shares of Northrop Grumman by 7.8% during the first quarter. Probity Advisors Inc. now owns 620 shares of the aerospace company's stock valued at $317,000 after purchasing an additional 45 shares in the last quarter. Finally, Empire Life Investments Inc. boosted its holdings in Northrop Grumman by 0.5% in the first quarter. Empire Life Investments Inc. now owns 63,642 shares of the aerospace company's stock worth $32,585,000 after acquiring an additional 296 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Down 0.1%

Northrop Grumman stock opened at $589.43 on Thursday. The stock has a market cap of $84.39 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 5.59 and a beta of 0.15. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $594.68. The stock has a fifty day moving average of $518.56 and a 200 day moving average of $496.63.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. The company had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%. Northrop Grumman's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.36 earnings per share. As a group, sell-side analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were given a $2.31 dividend. The ex-dividend date was Monday, June 2nd. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is currently 34.06%.

Analysts Set New Price Targets

Several research firms have commented on NOC. Truist Financial reissued a "buy" rating and issued a $625.00 target price (up from $550.00) on shares of Northrop Grumman in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Sanford C. Bernstein reissued a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. Robert W. Baird boosted their target price on Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Bank of America upped their price target on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman currently has a consensus rating of "Moderate Buy" and an average target price of $586.79.

Insider Buying and Selling

In other Northrop Grumman news, VP Robert J. Fleming sold 3,500 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $1,770,195.00. Following the completion of the sale, the vice president owned 1,827 shares in the company, valued at $924,041.79. This represents a 65.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Kathy J. Warden sold 7,500 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $3,793,275.00. Following the completion of the sale, the chief executive officer owned 201,602 shares of the company's stock, valued at approximately $101,964,243.54. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,536 shares of company stock worth $8,306,857. Corporate insiders own 0.23% of the company's stock.

Northrop Grumman Company 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.

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