Wealth Enhancement Advisory Services LLC Sells 24,419 Shares of Northrop Grumman Corporation (NYSE:NOC)

Wealth Enhancement Advisory Services LLC lowered its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 41.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,193 shares of the aerospace company's stock after selling 24,419 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Northrop Grumman were worth $18,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Northrop Grumman by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company's stock valued at $5,949,556,000 after purchasing an additional 56,807 shares during the period. Capital International Investors increased its holdings in Northrop Grumman by 5.9% during the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company's stock worth $3,866,133,000 after acquiring an additional 461,307 shares during the period. Wellington Management Group LLP increased its holdings in Northrop Grumman by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 4,164,700 shares of the aerospace company's stock worth $1,954,452,000 after acquiring an additional 23,808 shares during the period. Geode Capital Management LLC increased its holdings in Northrop Grumman by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company's stock worth $1,417,850,000 after acquiring an additional 21,903 shares during the period. Finally, FMR LLC increased its holdings in Northrop Grumman by 4.1% during the 4th quarter. FMR LLC now owns 2,807,223 shares of the aerospace company's stock worth $1,317,402,000 after acquiring an additional 109,308 shares during the period. Institutional investors own 83.40% of the company's stock.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of analyst reports. Susquehanna decreased their target price on shares of Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Argus raised shares of Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised shares of Northrop Grumman from a "sell" rating to a "neutral" rating and increased their price target for the stock from $424.00 to $521.00 in a report on Friday, April 11th. Royal Bank Of Canada decreased their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of Northrop Grumman from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Northrop Grumman has a consensus rating of "Moderate Buy" and a consensus target price of $553.43.

Northrop Grumman Stock Up 0.7%

Shares of Northrop Grumman stock opened at $497.92 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.84. The company has a 50-day moving average of $489.35 and a 200 day moving average of $482.93. The firm has a market cap of $71.67 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 5.43 and a beta of 0.14. Northrop Grumman Corporation has a 1 year low of $422.69 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share 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 the consensus estimate of $10.07 billion. Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. As a group, sell-side analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were given a dividend of $2.31 per share. The ex-dividend date was Monday, June 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.86%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio (DPR) is presently 36.46%.

Insider Activity

In related news, CEO Kathy J. Warden sold 7,500 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $3,793,275.00. Following the sale, the chief executive officer now owns 201,602 shares in the company, valued at approximately $101,964,243.54. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Fleming sold 3,500 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the sale, the vice president now directly owns 1,827 shares of the company's stock, valued at $924,041.79. This represents a 65.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,569 shares of company stock worth $8,322,279 over the last quarter. Insiders own 0.23% of the company's stock.

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.

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