Marcum Wealth LLC Sells 215 Shares of Northrop Grumman Co. (NYSE:NOC)

Marcum Wealth LLC trimmed its position in Northrop Grumman Co. (NYSE:NOC) by 16.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,117 shares of the aerospace company’s stock after selling 215 shares during the period. Marcum Wealth LLC’s holdings in Northrop Grumman were worth $487,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Gulf International Bank UK Ltd lifted its stake in Northrop Grumman by 1,402.9% in the first quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock worth $6,186,000 after acquiring an additional 12,065 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Northrop Grumman in the 1st quarter worth approximately $870,000. Norden Group LLC purchased a new stake in shares of Northrop Grumman during the first quarter valued at $778,000. Fisher Asset Management LLC lifted its holdings in shares of Northrop Grumman by 7,574.5% in the 4th quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock valued at $57,879,000 after buying an additional 122,026 shares during the period. Finally, Red Mountain Financial LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at approximately $264,000. 83.40% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Down 0.4 %

NOC traded down $1.76 during midday trading on Monday, hitting $492.79. The company had a trading volume of 965,234 shares, compared to its average volume of 977,194. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $506.83. The company has a market capitalization of $72.07 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.26 and a beta of 0.32. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average price is $443.21 and its 200 day moving average price is $455.62.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The firm had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $5.34 EPS. On average, research analysts anticipate that Northrop Grumman Co. will post 25.18 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 12th. Stockholders of record on Tuesday, May 28th were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.67%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date was Friday, May 24th. Northrop Grumman’s payout ratio is presently 57.62%.

Analysts Set New Price Targets

NOC has been the topic of several analyst reports. UBS Group lifted their price target on Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target for the company in a research report on Monday, April 22nd. Sanford C. Bernstein lowered shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price objective on the stock. in a report on Friday, June 21st. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Finally, Barclays increased their target price on Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $516.29.

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.