ERn Financial LLC Has $551,000 Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

ERn Financial LLC reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,044 shares of the aerospace company’s stock after selling 26 shares during the period. ERn Financial LLC’s holdings in Northrop Grumman were worth $551,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NOC. Optimum Investment Advisors raised its holdings in Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 41 shares during the period. Bank & Trust Co acquired a new position in shares of Northrop Grumman in the second quarter valued at approximately $28,000. Meeder Asset Management Inc. increased its stake in shares of Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares during the period. Rise Advisors LLC acquired a new stake in Northrop Grumman during the 1st quarter worth approximately $38,000. Finally, Riverview Trust Co bought a new stake in Northrop Grumman in the 1st quarter valued at $47,000. 83.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the sale, the vice president now directly owns 6,755 shares in the company, valued at $3,225,917.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,879 shares of company stock worth $1,410,703 in the last three months. 0.22% of the stock is owned by corporate insiders.

Northrop Grumman Price Performance

NOC stock opened at $526.85 on Wednesday. The company has a 50 day simple moving average of $519.44 and a 200 day simple moving average of $477.71. The stock has a market cap of $77.97 billion, a price-to-earnings ratio of 36.84, a P/E/G ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. The business had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.34 EPS. Research analysts anticipate that Northrop Grumman Co. will post 25.16 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is 57.62%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup increased their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group dropped their price objective on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a research note on Tuesday, June 18th. Royal Bank of Canada raised their target price on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price target on Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $535.00.

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.