Lyell Wealth Management LP Cuts Stock Position in Northrop Grumman Corporation (NYSE:NOC)

Key Points

• Lyell Wealth Management LP has reduced its stake in Northrop Grumman Corporation by 47.2%, now holding 3,997 shares valued at approximately $2,047,000.
• Several research firms have adjusted their price targets for Northrop Grumman, with a consensus price target now at $586.79, reflecting a mix of hold, buy, and strong buy ratings among analysts.
• The company reported a quarterly EPS of $7.11, exceeding analysts' estimates, with revenues of $10.35 billion, marking a 1.3% increase year-over-year.

Lyell Wealth Management LP reduced its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 47.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,997 shares of the aerospace company's stock after selling 3,570 shares during the quarter. Lyell Wealth Management LP's holdings in Northrop Grumman were worth $2,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOC. Redhawk Wealth Advisors Inc. boosted its holdings in Northrop Grumman by 3.0% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company's stock valued at $330,000 after acquiring an additional 19 shares during the period. Salvus Wealth Management LLC boosted its holdings in Northrop Grumman by 1.5% during the 1st quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company's stock valued at $691,000 after acquiring an additional 20 shares during the period. IAG Wealth Partners LLC lifted its holdings in Northrop Grumman by 8.4% in the 1st quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company's stock worth $139,000 after buying an additional 21 shares during the period. Integrated Investment Consultants LLC lifted its holdings in Northrop Grumman by 3.9% in the 1st quarter. Integrated Investment Consultants LLC now owns 553 shares of the aerospace company's stock worth $283,000 after buying an additional 21 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its holdings in Northrop Grumman by 2.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock worth $472,000 after buying an additional 22 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on NOC. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Barclays increased their price objective on Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a report on Tuesday. Bank of America increased their price objective on Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. UBS Group lowered their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $586.79.

Northrop Grumman Stock Down 0.0%

Northrop Grumman stock opened at $573.08 on Thursday. The firm has a market cap of $82.05 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 5.43 and a beta of 0.15. The stock has a fifty day simple moving average of $507.21 and a two-hundred day simple moving average of $492.83. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $576.86. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

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

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were issued a $2.31 dividend. The ex-dividend date was Monday, June 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.61%. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's payout ratio is presently 34.06%.

Insider Transactions at Northrop Grumman

In related news, VP Robert J. Fleming sold 3,500 shares of Northrop Grumman stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the transaction, the vice president directly owned 1,827 shares in the company, valued at approximately $924,041.79. The trade was a 65.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the transaction, the vice president owned 319 shares in the company, valued at $156,310. This trade represents a 75.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,569 shares of company stock worth $8,323,150. 0.23% of the stock is currently owned by insiders.

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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