Smith Salley Wealth Management Purchases 669 Shares of Northrop Grumman Co. (NYSE:NOC)

Smith Salley Wealth Management increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 2.9% during the third quarter, HoldingsChannel.com reports. The firm owned 23,916 shares of the aerospace company’s stock after buying an additional 669 shares during the period. Smith Salley Wealth Management’s holdings in Northrop Grumman were worth $12,629,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Diversify Advisory Services LLC bought a new position in shares of Northrop Grumman during the 1st quarter worth about $870,000. Norden Group LLC bought a new stake in shares of Northrop Grumman in the 1st quarter valued at approximately $778,000. Aviso Wealth Management raised its holdings in shares of Northrop Grumman by 110.7% in the 2nd quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock worth $827,000 after buying an additional 996 shares in the last quarter. Susquehanna International Securities Ltd. acquired a new position in shares of Northrop Grumman in the 2nd quarter worth approximately $1,133,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in Northrop Grumman by 9.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 160,328 shares of the aerospace company’s stock valued at $74,027,000 after buying an additional 14,275 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 1,490 shares of company stock worth $747,372 in the last three months. Insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $519.35 on Friday. The business’s 50-day simple moving average is $523.54 and its 200 day simple moving average is $481.22. 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 has a market cap of $75.95 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 2.38 and a beta of 0.34. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the previous year, the company earned $6.18 EPS. Northrop Grumman’s revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that Northrop Grumman Co. will post 25.16 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is currently 53.79%.

Wall Street Analyst Weigh In

NOC has been the subject of several recent analyst reports. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on shares of Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and lifted their target price for the company from $474.00 to $575.00 in a research note on Monday, July 29th. Finally, Morgan Stanley increased their price target on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $547.44.

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.