Lyell Wealth Management LP Trims Position in Northrop Grumman Co. (NYSE:NOC)

Lyell Wealth Management LP trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,758 shares of the aerospace company’s stock after selling 321 shares during the quarter. Lyell Wealth Management LP’s holdings in Northrop Grumman were worth $6,441,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Northrop Grumman by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,488,412 shares of the aerospace company’s stock valued at $1,975,754,000 after purchasing an additional 410,736 shares in the last quarter. Morgan Stanley increased its holdings in shares of Northrop Grumman by 3.5% during the 3rd quarter. Morgan Stanley now owns 4,194,298 shares of the aerospace company’s stock valued at $1,846,289,000 after purchasing an additional 142,036 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Northrop Grumman by 29.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,605,679 shares of the aerospace company’s stock valued at $706,804,000 after purchasing an additional 362,515 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Northrop Grumman by 6.8% during the 3rd quarter. Northern Trust Corp now owns 1,244,324 shares of the aerospace company’s stock valued at $547,739,000 after purchasing an additional 79,263 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Northrop Grumman by 74.7% during the 3rd quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock valued at $517,028,000 after purchasing an additional 502,060 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $450.00 target price (down from $515.00) on shares of Northrop Grumman in a report on Friday, January 26th. TheStreet cut shares of Northrop Grumman from a “b+” rating to a “c+” rating in a research note on Thursday, January 25th. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target on the stock in a research note on Monday. Susquehanna dropped their price target on shares of Northrop Grumman from $560.00 to $540.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. Finally, StockNews.com cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman presently has an average rating of “Hold” and an average target price of $497.23.

Insider Buying and Selling

In related news, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total transaction of $95,482.80. Following the sale, the chief accounting officer now directly owns 3,127 shares in the company, valued at $1,421,784.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Kathryn G. Simpson sold 1,273 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $573,321.01. Following the completion of the transaction, the vice president now directly owns 2,735 shares of the company’s stock, valued at $1,231,761.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael A. Hardesty sold 210 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the sale, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,149 shares of company stock worth $1,421,147. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Trading Down 0.0 %

Shares of NOC stock traded down $0.11 on Wednesday, hitting $474.57. 1,091,637 shares of the stock traded hands, compared to its average volume of 997,757. The firm’s 50-day moving average price is $461.24 and its two-hundred day moving average price is $465.55. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.15. The stock has a market capitalization of $70.33 billion, a PE ratio of 35.21, a PEG ratio of 1.89 and a beta of 0.35. Northrop Grumman Co. has a twelve month low of $414.56 and a twelve month high of $496.89.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.47. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.43 billion. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. Northrop Grumman’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $7.50 EPS. As a group, analysts anticipate that Northrop Grumman Co. will post 24.67 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were paid a dividend of $1.87 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a yield of 1.58%. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

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.