Hexagon Capital Partners LLC Reduces Position in Northrop Grumman Co. (NYSE:NOC)

Hexagon Capital Partners LLC lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 30.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 182 shares of the aerospace company’s stock after selling 79 shares during the period. Hexagon Capital Partners LLC’s holdings in Northrop Grumman were worth $96,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Optimum Investment Advisors grew its stake in 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 in the last quarter. Bank & Trust Co purchased a new stake in shares of Northrop Grumman in the second quarter valued at approximately $28,000. Meeder Asset Management Inc. boosted its holdings in shares of Northrop Grumman by 245.5% in the second 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 during the period. Rise Advisors LLC bought a new position in Northrop Grumman in the first quarter worth approximately $38,000. Finally, Riverview Trust Co purchased a new position in Northrop Grumman during the 1st quarter worth $47,000. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $527.09 on Friday. The stock has a market capitalization of $77.08 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The firm’s 50 day simple moving average is $516.44 and its 200-day simple moving average is $476.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter last year, the company earned $5.34 EPS. The business’s revenue was up 6.7% on a year-over-year basis. Analysts expect that Northrop Grumman Co. will post 25.16 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid 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 yield of 1.56%. Northrop Grumman’s dividend payout ratio is currently 53.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NOC. Citigroup increased their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday. Morgan Stanley increased 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. BTIG Research initiated coverage on shares of Northrop Grumman in a research report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on shares of Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. One research 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $527.19.

Insider Activity at Northrop Grumman

In related news, 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 sale, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’s 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 transaction, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the transaction, the vice president now owns 6,755 shares in the company, valued at $3,225,917.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,879 shares of company stock valued at $1,410,703. 0.22% of the stock is owned by company insiders.

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.