Garner Asset Management Corp Sells 1,564 Shares of Northrop Grumman Corporation $NOC

Garner Asset Management Corp lowered its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 58.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,129 shares of the aerospace company’s stock after selling 1,564 shares during the quarter. Garner Asset Management Corp’s holdings in Northrop Grumman were worth $546,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NOC. Tucker Asset Management LLC boosted its position in Northrop Grumman by 14.5% in the third quarter. Tucker Asset Management LLC now owns 552 shares of the aerospace company’s stock valued at $267,000 after buying an additional 70 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management increased its holdings in Northrop Grumman by 0.6% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 4,359 shares of the aerospace company’s stock worth $2,108,000 after buying an additional 28 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC increased its holdings in Northrop Grumman by 3.0% in the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 782 shares of the aerospace company’s stock worth $378,000 after buying an additional 23 shares during the period. Salomon & Ludwin LLC raised its position in Northrop Grumman by 24.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 305 shares of the aerospace company’s stock worth $147,000 after buying an additional 59 shares during the last quarter. Finally, Traynor Capital Management Inc. raised its position in Northrop Grumman by 5.5% during the 3rd quarter. Traynor Capital Management Inc. now owns 25,764 shares of the aerospace company’s stock worth $12,456,000 after buying an additional 1,341 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Down 0.9%

Northrop Grumman stock opened at $550.17 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.77. Northrop Grumman Corporation has a 12 month low of $470.06 and a 12 month high of $774.00. The stock’s 50 day simple moving average is $520.59 and its two-hundred day simple moving average is $590.91. The firm has a market cap of $78.16 billion, a PE ratio of 17.36, a P/E/G ratio of 2.98 and a beta of -0.13.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Tuesday, October 20th. The aerospace company reported $7.89 EPS for the quarter, topping analysts’ consensus estimates of $7.18 by $0.71. The business had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $11.14 billion. Northrop Grumman had a net margin of 10.37% and a return on equity of 23.46%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $7.67 EPS. Analysts anticipate that Northrop Grumman Corporation will post 29.64 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Monday, August 31st were issued a dividend of $2.47 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $9.88 dividend on an annualized basis and a yield of 1.8%. Northrop Grumman’s dividend payout ratio is 31.17%.

Insider Buying and Selling

In related news, Director Mark Welsh, III sold 98 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $555.65, for a total transaction of $54,453.70. Following the sale, the director owned 4,314 shares in the company, valued at approximately $2,397,074.10. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NOC. Susquehanna decreased their price objective on shares of Northrop Grumman from $785.00 to $655.00 and set a “positive” rating for the company in a research note on Wednesday, July 22nd. Citigroup upped their price objective on shares of Northrop Grumman from $617.00 to $667.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Wells Fargo & Company reiterated an “overweight” rating and issued a $620.00 price objective (down from $800.00) on shares of Northrop Grumman in a research note on Wednesday, July 8th. Jefferies Financial Group reissued a “hold” rating and set a $585.00 target price on shares of Northrop Grumman in a report on Sunday, October 25th. Finally, TD Cowen decreased their target price on shares of Northrop Grumman from $590.00 to $540.00 and set a “hold” rating for the company in a research report on Friday, October 9th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $643.74.

Northrop Grumman Company Profile

Northrop Grumman Corporation (NYSE:NOC) is a global aerospace and defense company that develops and produces systems for government and commercial customers, with the U.S. government representing its primary customer base. The company operates across aerospace, defense, space, cybersecurity and advanced technology markets.

Its products and services include military aircraft and autonomous systems, space systems and satellites, missile defense technologies, command-and-control systems, cyber solutions, sensors, communications networks and other mission-critical systems.