Resurgent Financial Advisors LLC Takes Position in Northrop Grumman Co. (NYSE:NOC)

Resurgent Financial Advisors LLC purchased a new stake in Northrop Grumman Co. (NYSE:NOC) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 422 shares of the aerospace company’s stock, valued at approximately $223,000.

A number of other large investors have also made changes to their positions in the stock. IHT Wealth Management LLC increased its holdings in Northrop Grumman by 14.9% during the 3rd quarter. IHT Wealth Management LLC now owns 2,623 shares of the aerospace company’s stock valued at $1,389,000 after acquiring an additional 341 shares in the last quarter. Ingalls & Snyder LLC purchased a new position in Northrop Grumman during the 3rd quarter valued at about $224,000. Integrated Wealth Concepts LLC increased its holdings in Northrop Grumman by 42.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 3,715 shares of the aerospace company’s stock valued at $1,962,000 after acquiring an additional 1,115 shares in the last quarter. Investment Management Corp of Ontario increased its holdings in Northrop Grumman by 47.5% during the 3rd quarter. Investment Management Corp of Ontario now owns 4,658 shares of the aerospace company’s stock valued at $2,460,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Hilltop Holdings Inc. increased its holdings in Northrop Grumman by 493.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 7,578 shares of the aerospace company’s stock valued at $4,002,000 after acquiring an additional 6,301 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup raised their target price on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Barclays raised their price target on shares of Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada raised their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $550.56.

Northrop Grumman Trading Down 1.4 %

Shares of NOC stock opened at $479.57 on Friday. The stock has a market cap of $69.87 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 0.98 and a beta of 0.33. The firm’s 50 day moving average price is $513.61 and its two-hundred day moving average price is $487.60. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. 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 (NYSE:NOC) last posted its quarterly earnings data 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 company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.18 earnings per share. On average, analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $2.06 dividend. The ex-dividend date is Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.72%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders sold 1,222 shares of company stock worth $650,575. Insiders own 0.22% of the company’s stock.

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.