Moran Wealth Management LLC Decreases Stock Holdings in Northrop Grumman Corporation (NYSE:NOC)

Moran Wealth Management LLC lessened its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 30.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,724 shares of the aerospace company's stock after selling 16,340 shares during the period. Moran Wealth Management LLC's holdings in Northrop Grumman were worth $18,803,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in Northrop Grumman in the 4th quarter worth approximately $31,000. Wood Tarver Financial Group LLC purchased a new position in shares of Northrop Grumman in the fourth quarter worth $32,000. Bellwether Advisors LLC purchased a new position in shares of Northrop Grumman in the fourth quarter worth $33,000. Rakuten Securities Inc. raised its holdings in Northrop Grumman by 291.7% during 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 during the last quarter. Finally, HWG Holdings LP purchased a new stake in Northrop Grumman during the 1st quarter valued at $46,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Thomas H. Jones sold 729 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the completion of the transaction, the vice president now directly owns 7,552 shares in the company, valued at $3,819,575.04. The trade was a 8.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Roshan S. Roeder sold 991 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 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. Insiders sold 16,569 shares of company stock worth $8,322,279 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Northrop Grumman Stock Down 0.1%

Shares of Northrop Grumman stock traded down $0.74 during trading on Friday, hitting $492.92. The company's stock had a trading volume of 283,050 shares, compared to its average volume of 878,692. Northrop Grumman Corporation has a 52 week low of $422.69 and a 52 week high of $555.57. The company has a market capitalization of $70.95 billion, a PE ratio of 19.45, a P/E/G ratio of 5.32 and a beta of 0.14. The company has a fifty day simple moving average of $485.77 and a two-hundred day simple moving average of $483.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.95.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $10.07 billion. Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. Equities research analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were paid a $2.31 dividend. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Monday, June 2nd. Northrop Grumman's dividend payout ratio is currently 36.46%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NOC shares. Morgan Stanley boosted their price objective on shares of Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Truist Financial reduced their price target on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Susquehanna dropped their price objective on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $424.00 to $521.00 in a research report on Friday, April 11th. Finally, Wall Street Zen downgraded Northrop Grumman from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Seven equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $552.54.

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.