Cambridge Investment Research Advisors Inc. Sells 693 Shares of Northrop Grumman Co. (NYSE:NOC) (2024)

Cambridge Investment Research Advisors Inc. cut its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 3.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,381 shares of the aerospace company's stock after selling 693 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Northrop Grumman were worth $8,449,000 at the end of the most recent reporting period.

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Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. raised its stake in Northrop Grumman by 960.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company's stock valued at $25,000 after buying an additional 48 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Northrop Grumman in the fourth quarter valued at about $25,000. Optimum Investment Advisors increased its holdings in shares of 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 purchasing an additional 41 shares during the period. Frazier Financial Advisors LLC acquired a new position in shares of Northrop Grumman in the fourth quarter valued at about $29,000. Finally, Bank & Trust Co acquired a new position in shares of Northrop Grumman in the second quarter valued at about $28,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value 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 $3,225,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction on Friday, August 2nd. The shares were 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 directly owns 4,634 shares of the company's stock, valued at $2,317,000. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.

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Analyst Ratings Changes

A number of research analysts have recently weighed in on NOC shares. Morgan Stanley increased their price objective on Northrop Grumman from $579.00 to $592.00 and gave the company an "overweight" rating in a report on Friday, August 9th. Royal Bank of Canada increased their price objective on Northrop Grumman from $475.00 to $500.00 and gave the company a "sector perform" rating in a report on Friday, July 26th. Jefferies Financial Group cut their price objective on Northrop Grumman from $530.00 to $500.00 and set a "hold" rating on the stock in a report on Tuesday, June 18th. Sanford C. Bernstein lowered Northrop Grumman from an "outperform" rating to a "market perform" rating and set a $477.00 target price on the stock. in a report on Friday, June 21st. Finally, StockNews.com raised Northrop Grumman from a "hold" rating to a "buy" rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Northrop Grumman presently has an average rating of "Hold" and an average target price of $523.20.

Northrop Grumman Trading Up 0.2 %

NOC stock traded up $1.22 during midday trading on Wednesday, hitting $513.66. 638,711 shares of the company's stock were exchanged, compared to its average volume of 937,974. The business has a 50-day simple moving average of $464.23 and a two-hundred day simple moving average of $461.59. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $76.02 billion, a PE ratio of 35.92, a P/E/G ratio of 2.26 and a beta of 0.32. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $517.47.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.93 by $0.43. The company had revenue of $10.22 billion during the quarter, compared to analysts' expectations of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.34 earnings per share. On average, sell-side analysts predict that Northrop Grumman Co. will post 25.18 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $2.06 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.60%. Northrop Grumman's dividend payout ratio (DPR) is 57.62%.

About Northrop Grumman

(Free Report)

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.

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