Resurgent Financial Advisors LLC Acquires Shares of 422 Northrop Grumman Co. (NYSE:NOC)

Resurgent Financial Advisors LLC acquired a new stake in Northrop Grumman Co. (NYSE:NOC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 422 shares of the aerospace company’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optimum Investment Advisors increased its holdings in Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after buying an additional 41 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Northrop Grumman in the third quarter valued at about $31,000. Meeder Asset Management Inc. grew its position in shares of Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the third quarter valued at about $36,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman in the third quarter valued at about $40,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NOC shares. Royal Bank of Canada lifted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Morgan Stanley lifted their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. UBS Group boosted their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price target on shares of Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Northrop Grumman has a consensus rating of “Hold” and a consensus target price of $550.56.

Northrop Grumman Trading Down 1.4 %

Shares of Northrop Grumman stock opened at $479.57 on Friday. The company has a fifty day simple moving average of $513.61 and a 200-day simple moving average of $487.60. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The stock has a market cap of $69.87 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 0.98 and a beta of 0.33.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the prior year, the business posted $6.18 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,222 shares of company stock worth $650,575 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Northrop Grumman 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.