St. Johns Investment Management Company LLC Trims Stock Position in Northrop Grumman Co. (NYSE:NOC)

St. Johns Investment Management Company LLC trimmed its position in Northrop Grumman Co. (NYSE:NOC) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,320 shares of the aerospace company’s stock after selling 80 shares during the period. St. Johns Investment Management Company LLC’s holdings in Northrop Grumman were worth $1,225,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Diversify Advisory Services LLC bought a new stake in Northrop Grumman during the first quarter valued at approximately $870,000. Norden Group LLC purchased a new position in Northrop Grumman in the first quarter worth $778,000. Aviso Wealth Management increased its stake in Northrop Grumman by 110.7% in the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock valued at $827,000 after acquiring an additional 996 shares during the last quarter. Susquehanna International Securities Ltd. purchased a new stake in Northrop Grumman during the second quarter valued at about $1,133,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in Northrop Grumman by 9.8% during 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 purchasing an additional 14,275 shares during the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 1,490 shares of company stock valued at $747,372 in the last three months. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on NOC shares. Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and increased their price objective for the company from $474.00 to $575.00 in a research report on Monday, July 29th. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research note on Tuesday, August 27th. Barclays upped their price objective on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Morgan Stanley upped 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 investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman currently has an average rating of “Hold” and a consensus target price of $547.44.

Northrop Grumman Trading Down 0.8 %

NYSE:NOC opened at $519.35 on Friday. The company has a 50-day moving average price of $523.28 and a 200-day moving average price of $480.60. The stock has a market cap of $75.95 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 2.38 and a beta of 0.34. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same period last year, the business posted $6.18 earnings per share. Northrop Grumman’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that Northrop Grumman Co. will post 25.16 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 53.79%.

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.