B. Riley Wealth Management Inc. Cuts Holdings in Northrop Grumman Co. (NYSE:NOC)

B. Riley Wealth Management Inc. decreased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,553 shares of the aerospace company’s stock after selling 60 shares during the period. B. Riley Wealth Management Inc.’s holdings in Northrop Grumman were worth $564,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NOC. Solstein Capital LLC purchased a new position in shares of Northrop Grumman during the first quarter valued at about $25,000. Centerpoint Advisors LLC purchased a new position in shares of Northrop Grumman during the second quarter valued at about $27,000. D Orazio & Associates Inc. grew its position in Northrop Grumman by 141.9% in the second quarter. D Orazio & Associates Inc. now owns 75 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 44 shares in the last quarter. North Star Investment Management Corp. grew its position in Northrop Grumman by 56.1% in the second quarter. North Star Investment Management Corp. now owns 89 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 32 shares in the last quarter. Finally, Certified Advisory Corp purchased a new position in Northrop Grumman in the first quarter worth about $33,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Several research analysts recently commented on the company. Seaport Global Securities lifted their price target on Northrop Grumman from $398.00 to $419.00 and gave the stock a “buy” rating in a research report on Monday, July 19th. The Goldman Sachs Group upgraded Northrop Grumman from a “sell” rating to a “neutral” rating and set a $350.00 price target for the company in a research report on Thursday. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $391.00 price target for the company in a research report on Tuesday, July 6th. Stifel Nicolaus raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and raised their price objective for the stock from $350.00 to $475.00 in a research note on Friday, June 4th. Finally, Wells Fargo & Company raised their price objective on shares of Northrop Grumman from $330.00 to $335.00 and gave the stock an “underweight” rating in a research note on Monday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $394.64.

Northrop Grumman stock opened at $355.70 on Friday. The company has a 50 day moving average price of $360.25 and a 200-day moving average price of $354.88. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.39 and a current ratio of 1.49. Northrop Grumman Co. has a fifty-two week low of $282.88 and a fifty-two week high of $379.03. The company has a market capitalization of $56.95 billion, a PE ratio of 12.84, a P/E/G ratio of 1.59 and a beta of 0.84.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, July 29th. The aerospace company reported $6.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.75 by $0.67. Northrop Grumman had a net margin of 12.10% and a return on equity of 39.32%. The firm had revenue of $9.15 billion during the quarter, compared to the consensus estimate of $8.71 billion. On average, analysts forecast that Northrop Grumman Co. will post 24.83 earnings per share for the current year.

The firm also recently disclosed a dividend, which was paid on Thursday, September 2nd. Investors of record on Monday, August 23rd were paid a $0.14 dividend. This represents a yield of 0.15%. The ex-dividend date of this dividend was Friday, August 20th. Northrop Grumman’s dividend payout ratio (DPR) is 26.55%.

In other Northrop Grumman news, VP Thomas H. Jones sold 235 shares of Northrop Grumman stock in a transaction on Tuesday, August 17th. The shares were sold at an average price of $370.00, for a total value of $86,950.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Mary D. Petryszyn sold 892 shares of Northrop Grumman stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $358.65, for a total transaction of $319,915.80. Following the completion of the transaction, the vice president now directly owns 12,991 shares in the company, valued at $4,659,222.15. The disclosure for this sale can be found here. Insiders sold 1,597 shares of company stock valued at $576,700 in the last three months. 0.25% of the stock is currently owned by insiders.

Northrop Grumman Company Profile

Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.

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

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