Lake Street Private Wealth LLC Purchases 316 Shares of Northrop Grumman Co. (NYSE:NOC)

Lake Street Private Wealth LLC lifted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,767 shares of the aerospace company’s stock after buying an additional 316 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Northrop Grumman were worth $4,102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Optimum Investment Advisors lifted its stake in shares of Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 41 shares during the last quarter. Bank & Trust Co purchased a new stake in Northrop Grumman in the second quarter valued at about $28,000. Meeder Asset Management Inc. raised its stake in 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 buying an additional 54 shares during the last quarter. Riverview Trust Co purchased a new stake in Northrop Grumman in the first quarter valued at about $47,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Northrop Grumman in the second quarter valued at about $47,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 0.3 %

NOC traded down $1.60 on Wednesday, hitting $518.60. 83,835 shares of the company were exchanged, compared to its average volume of 869,150. 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 $76.75 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 2.44 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. The firm has a 50-day moving average price of $522.66 and a two-hundred day moving average price of $480.04.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping the consensus estimate of $5.93 by $0.43. The firm had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. Northrop Grumman’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.34 EPS. On average, equities analysts predict that Northrop Grumman Co. will post 25.16 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders 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 yield of 1.59%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is 57.62%.

Analysts Set New Price Targets

NOC has been the subject of a number of research analyst reports. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Royal Bank of Canada raised their price objective on Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and raised their price objective for the company from $474.00 to $575.00 in a report on Monday, July 29th. Finally, Morgan Stanley raised their price objective on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $535.00.

Insiders Place Their Bets

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,879 shares of company stock valued at $1,410,703 in the last ninety days. Insiders own 0.22% of the company’s stock.

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.