Tidemark LLC Decreases Holdings in Northrop Grumman Co. (NYSE:NOC)

Tidemark LLC reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 79.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94 shares of the aerospace company’s stock after selling 372 shares during the period. Tidemark LLC’s holdings in Northrop Grumman were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOC. Optimum Investment Advisors grew its position 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 purchased a new stake in shares of Northrop Grumman in the 2nd quarter worth about $28,000. Meeder Asset Management Inc. boosted its stake in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Northrop Grumman during the third quarter valued at about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Northrop Grumman in the second quarter worth about $52,000. Institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. UBS Group increased their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Susquehanna boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $550.56.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 1,289 shares of company stock valued at $685,273 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Stock Down 1.3 %

Shares of Northrop Grumman stock opened at $493.99 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a market cap of $71.97 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 1.00 and a beta of 0.35. The company’s 50 day moving average is $523.27 and its 200 day moving average is $486.19.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 26.57% and a net margin of 5.79%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.18 EPS. Research analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 51.05%.

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.