Elevation Point Wealth Partners LLC Reduces Holdings in Northrop Grumman Co. (NYSE:NOC)

Elevation Point Wealth Partners LLC decreased its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,866 shares of the aerospace company's stock after selling 485 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Northrop Grumman were worth $3,516,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NOC. Whipplewood Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth about $31,000. Wood Tarver Financial Group LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth approximately $32,000. Bellwether Advisors LLC acquired a new position in shares of Northrop Grumman during the 4th quarter worth approximately $33,000. Stonebridge Financial Group LLC acquired a new position in shares of Northrop Grumman during the 4th quarter worth approximately $42,000. Finally, Rakuten Securities Inc. lifted its stake in Northrop Grumman by 291.7% in the 4th quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock valued at $44,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Insider Activity

In related news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $495.00, for a total transaction of $1,856,250.00. Following the transaction, the chief executive officer now owns 209,102 shares in the company, valued at approximately $103,505,490. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Roshan S. Roeder sold 991 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total transaction of $485,590.00. Following the sale, the vice president now directly owns 319 shares of the company's stock, valued at approximately $156,310. This trade represents a 75.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,340 shares of company stock valued at $6,183,378 in the last three months. Corporate insiders own 0.23% of the company's stock.

Northrop Grumman Trading Up 4.0%

NOC stock traded up $20.09 on Friday, hitting $517.22. 1,842,813 shares of the company were exchanged, compared to its average volume of 886,029. The stock has a market capitalization of $74.44 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 3.73 and a beta of 0.14. The business's fifty day moving average is $490.98 and its two-hundred day moving average is $482.62. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $10.07 billion. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, research analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be issued a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.79%. This is an increase from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date is Monday, June 2nd. Northrop Grumman's dividend payout ratio (DPR) is 36.46%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Susquehanna dropped their price target on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen cut Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Truist Financial cut their target price on shares of Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Argus raised shares of Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company set a $525.00 price target on shares of Northrop Grumman and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of "Moderate Buy" and a consensus target price of $545.31.

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.