Northrop Grumman Corporation $NOC Shares Purchased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC boosted its holdings in Northrop Grumman Corporation (NYSE:NOC) by 98,200.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 983 shares of the aerospace company’s stock after acquiring an additional 982 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Northrop Grumman were worth $475,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Northrop Grumman by 1.3% during the 2nd quarter. State Street Corp now owns 13,169,195 shares of the aerospace company’s stock worth $6,707,203,000 after purchasing an additional 168,267 shares during the period. BlackRock Inc. purchased a new position in shares of Northrop Grumman in the 2nd quarter valued at about $6,001,616,000. Bank of America Corp DE purchased a new position in shares of Northrop Grumman in the 2nd quarter valued at about $1,298,141,000. Dimensional Fund Advisors LP lifted its stake in shares of Northrop Grumman by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 960,690 shares of the aerospace company’s stock valued at $655,373,000 after purchasing an additional 5,811 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Northrop Grumman by 11.1% in the first quarter. Bessemer Group Inc. now owns 587,121 shares of the aerospace company’s stock valued at $400,557,000 after purchasing an additional 58,690 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In other news, Director Mark Welsh, III sold 98 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $555.65, for a total value of $54,453.70. Following the sale, the director directly owned 4,314 shares in the company, valued at $2,397,074.10. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by corporate insiders.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $525.88 on Friday. Northrop Grumman Corporation has a 52 week low of $470.06 and a 52 week high of $774.00. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $519.73 and its 200 day simple moving average is $589.56. The firm has a market capitalization of $74.71 billion, a PE ratio of 16.59, a P/E/G ratio of 2.82 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, beating analysts’ consensus estimates of $7.18 by $0.71. Northrop Grumman had a net margin of 10.37% and a return on equity of 23.46%. The firm had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $11.14 billion. During the same period in the prior year, the company earned $7.67 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. On average, equities research analysts predict that Northrop Grumman Corporation will post 29.68 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st were issued a $2.47 dividend. This represents a $9.88 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, August 31st. Northrop Grumman’s dividend payout ratio is 31.17%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $615.00 price objective on shares of Northrop Grumman and gave the stock a “buy” rating in a report on Wednesday, July 22nd. TD Cowen dropped their target price on shares of Northrop Grumman from $590.00 to $540.00 and set a “hold” rating for the company in a report on Friday, October 9th. BNP Paribas Exane lifted their price target on shares of Northrop Grumman from $540.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. Citigroup boosted their price target on Northrop Grumman from $617.00 to $667.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Guggenheim upped their price target on Northrop Grumman from $612.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $643.74.

About Northrop Grumman

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.