Cutter & CO Brokerage Inc. Reduces Position in Northrop Grumman Co. (NYSE:NOC)

Cutter & CO Brokerage Inc. decreased its stake in Northrop Grumman Co. (NYSE:NOC) by 0.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,165 shares of the aerospace company’s stock after selling 49 shares during the period. Northrop Grumman accounts for 0.9% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 28th biggest position. Cutter & CO Brokerage Inc.’s holdings in Northrop Grumman were worth $3,784,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Optimum Investment Advisors lifted 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 acquiring an additional 41 shares during the period. Bank & Trust Co purchased a new position in Northrop Grumman during the 2nd quarter valued at about $28,000. Meeder Asset Management Inc. grew its holdings in shares of Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after buying an additional 54 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Northrop Grumman during the second quarter worth about $47,000. Finally, Larson Financial Group LLC grew its holdings in shares of Northrop Grumman by 281.5% during the first quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock worth $49,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NOC traded down $4.65 during midday trading on Tuesday, hitting $507.50. 20,294 shares of the stock traded hands, compared to its average volume of 868,609. The firm has a market capitalization of $73.94 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 2.31 and a beta of 0.34. The business’s 50 day moving average price is $523.68 and its two-hundred day moving average price is $481.77. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.18 earnings per share. Equities research analysts predict that Northrop Grumman Co. will post 25.87 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 51.05%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NOC shares. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Susquehanna raised their target price on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research report on Friday. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Wells Fargo & Company lifted their price target on shares of Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Morgan Stanley lifted their price target 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Northrop Grumman has an average rating of “Hold” and a consensus price target of $550.56.

Insider Buying and Selling

In other Northrop Grumman 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 approximately $2,317,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,490 shares of company stock valued at $747,372 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

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.