Northrop Grumman Co. (NOC) Position Trimmed by Hoylecohen LLC

Hoylecohen LLC lowered its stake in Northrop Grumman Co. (NYSE:NOC) by 53.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,216 shares of the aerospace company’s stock after selling 9,340 shares during the quarter. Hoylecohen LLC’s holdings in Northrop Grumman were worth $2,608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Northrop Grumman in the second quarter worth $114,000. Meeder Asset Management Inc. bought a new stake in shares of Northrop Grumman in the second quarter worth $115,000. Fort L.P. bought a new stake in shares of Northrop Grumman in the second quarter worth $117,000. WESPAC Advisors SoCal LLC bought a new stake in shares of Northrop Grumman in the third quarter worth $126,000. Finally, Kaizen Advisory LLC lifted its position in shares of Northrop Grumman by 156.2% in the second quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock worth $133,000 after purchasing an additional 264 shares in the last quarter. 79.67% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Mark A. Caylor sold 4,543 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $297.45, for a total transaction of $1,351,315.35. Following the transaction, the vice president now directly owns 24,592 shares in the company, valued at $7,314,890.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Shawn N. Purvis sold 1,565 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $273.39, for a total transaction of $427,855.35. Following the completion of the transaction, the vice president now owns 4,326 shares in the company, valued at $1,182,685.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,715 shares of company stock worth $11,192,664. 0.62% of the stock is owned by corporate insiders.

NOC has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of Northrop Grumman from $346.00 to $318.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 14th. Jefferies Financial Group cut their price objective on shares of Northrop Grumman from $400.00 to $324.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Zacks Investment Research lowered shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 26th. Buckingham Research raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $246.00 to $371.00 in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Finally, UBS Group initiated coverage on shares of Northrop Grumman in a research report on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Northrop Grumman currently has a consensus rating of “Buy” and a consensus target price of $353.65.

Shares of NOC opened at $267.71 on Friday. The firm has a market cap of $46.48 billion, a P/E ratio of 20.16, a PEG ratio of 1.01 and a beta of 0.83. Northrop Grumman Co. has a 1-year low of $251.66 and a 1-year high of $360.88. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.17 and a current ratio of 1.26.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.35 by $2.19. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.67 earnings per share. On average, analysts predict that Northrop Grumman Co. will post 19.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Monday, December 3rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.80 dividend on an annualized basis and a yield of 1.79%. Northrop Grumman’s payout ratio is 36.14%.

COPYRIGHT VIOLATION WARNING: This story was published by WKRB News and is the property of of WKRB News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://www.wkrb13.com/2018/11/23/northrop-grumman-co-noc-position-trimmed-by-hoylecohen-llc.html.

About Northrop Grumman

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

Featured Article: How does a reverse stock split work?

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC).

Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply