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

Provenance Wealth Advisors LLC increased its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 98,200.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 983 shares of the aerospace company’s stock after purchasing 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 Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Associated Banc Corp acquired a new position in shares of Northrop Grumman in the third quarter valued at approximately $18,158,000. Putney Financial Group LLC lifted its stake in shares of Northrop Grumman by 4.2% during the third quarter. Putney Financial Group LLC now owns 448 shares of the aerospace company’s stock valued at $217,000 after buying an additional 18 shares during the period. Richwood Investment Advisors LLC lifted its stake in shares of Northrop Grumman by 2.0% during the third quarter. Richwood Investment Advisors LLC now owns 3,884 shares of the aerospace company’s stock valued at $1,878,000 after buying an additional 75 shares during the period. First Nebraska Trust Co acquired a new stake in Northrop Grumman during the third quarter worth approximately $568,000. Finally, Factory Mutual Insurance Co. boosted its position in Northrop Grumman by 58.0% during the third quarter. Factory Mutual Insurance Co. now owns 68,000 shares of the aerospace company’s stock worth $32,877,000 after acquiring an additional 24,950 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Trading Up 0.1%

Shares of NOC stock opened at $525.88 on Friday. The firm has a market cap of $74.71 billion, a P/E ratio of 16.59, a PEG ratio of 2.82 and a beta of -0.13. Northrop Grumman Corporation has a 1-year low of $470.06 and a 1-year high of $774.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.23 and a quick ratio of 1.14. The firm’s 50-day simple moving average is $519.73 and its 200-day simple moving average is $589.56.

Northrop Grumman (NYSE:NOC) last released its earnings results on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.18 by $0.71. Northrop Grumman had a net margin of 10.37% and a return on equity of 23.46%. The business had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $11.14 billion. During the same period last year, the company earned $7.67 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities analysts forecast that Northrop Grumman Corporation will post 29.68 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st were paid 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 1.9%. Northrop Grumman’s dividend payout ratio (DPR) is currently 31.17%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BNP Paribas Exane lifted their target price on shares of Northrop Grumman from $540.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Royal Bank Of Canada increased their price target on Northrop Grumman from $525.00 to $550.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 21st. Jefferies Financial Group restated a “hold” rating and set a $585.00 price objective on shares of Northrop Grumman in a report on Sunday, October 25th. Rothschild & Co Redburn started coverage on Northrop Grumman in a research report on Tuesday, October 6th. They issued a “buy” rating and a $680.00 price objective for the company. Finally, Weiss Ratings raised Northrop Grumman from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Fifteen equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $643.74.

Insiders Place Their Bets

In other Northrop Grumman news, Director Mark Welsh, III sold 98 shares of Northrop Grumman stock in a transaction 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 transaction, the director owned 4,314 shares in the company, valued at $2,397,074.10. This trade represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is currently owned by corporate insiders.

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.