Evermay Wealth Management LLC Trims Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Evermay Wealth Management LLC lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 7.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,021 shares of the aerospace company’s stock after selling 167 shares during the period. Evermay Wealth Management LLC’s holdings in Northrop Grumman were worth $1,067,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Optimum Investment Advisors grew its stake in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares during the last quarter. Bank & Trust Co bought a new position in shares of Northrop Grumman during the second quarter valued at $28,000. Meeder Asset Management Inc. boosted its stake in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares in the last quarter. Larson Financial Group LLC grew its position in Northrop Grumman by 281.5% during the 1st quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 76 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Northrop Grumman during the 2nd quarter valued at about $52,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Trading Up 0.3 %

Shares of NYSE NOC traded up $1.65 during mid-day trading on Wednesday, reaching $505.70. The company had a trading volume of 147,049 shares, compared to its average volume of 867,847. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The business’s 50-day moving average is $523.60 and its 200-day moving average is $482.10. The stock has a market cap of $73.68 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.31 and a beta of 0.34. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $10.18 billion. During the same period last year, the company posted $6.18 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Northrop Grumman Co. will post 25.87 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders 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 dividend yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 51.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target for the company. in a research report on Tuesday, August 27th. 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 note on Friday, October 25th. Wells Fargo & Company boosted their price objective on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Susquehanna increased their target price on Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. Finally, Citigroup boosted their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Northrop Grumman currently has a consensus rating of “Hold” and an average price target of $550.56.

Insider Activity

In related news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 1,490 shares of company stock worth $747,372. 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.