Lmcg Investments LLC Sells 342 Shares of Northrop Grumman Co. (NYSE:NOC)

Lmcg Investments LLC cut its position in Northrop Grumman Co. (NYSE:NOC) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,984 shares of the aerospace company’s stock after selling 342 shares during the period. Lmcg Investments LLC’s holdings in Northrop Grumman were worth $11,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversify Advisory Services LLC purchased a new position in shares of Northrop Grumman in the 1st quarter worth approximately $870,000. Norden Group LLC purchased a new position in Northrop Grumman during the first quarter valued at $778,000. Aviso Wealth Management lifted its stake in shares of Northrop Grumman by 110.7% in the second 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. purchased a new position in shares of Northrop Grumman in the second quarter worth about $1,133,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Northrop Grumman by 9.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 160,328 shares of the aerospace company’s stock worth $74,027,000 after buying an additional 14,275 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Shares of NOC traded down $2.07 during midday trading on Friday, hitting $506.95. 497,886 shares of the company traded hands, compared to its average volume of 869,368. The firm has a 50 day moving average of $523.52 and a 200-day moving average of $482.84. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The stock has a market cap of $73.86 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.02 and a beta of 0.34. 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 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. The business had revenue of $10 billion for 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 revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.18 EPS. On average, analysts forecast that Northrop Grumman Co. will post 25.95 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $2.06 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.63%. Northrop Grumman’s payout ratio is 51.05%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Susquehanna upped their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and upped their price target for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Finally, Wells Fargo & Company upped their target price on shares of Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $550.56.

Northrop Grumman Company 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.