California State Teachers Retirement System reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,795 shares of the aerospace company’s stock after selling 22,370 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Northrop Grumman worth $79,639,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of NOC. Hanseatic Management Services Inc. lifted its position in Northrop Grumman by 12.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 48 shares in the last quarter. First Personal Financial Services lifted its position in Northrop Grumman by 39.0% in the 2nd quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock valued at $111,000 after acquiring an additional 121 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in Northrop Grumman by 28.6% in the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock valued at $116,000 after acquiring an additional 100 shares in the last quarter. People s United Financial Inc. lifted its position in Northrop Grumman by 9.2% in the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock valued at $122,000 after acquiring an additional 40 shares in the last quarter. Finally, Ropes Wealth Advisors LLC bought a new position in Northrop Grumman in the 3rd quarter valued at approximately $144,000. 81.33% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Sid Ashworth sold 6,311 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $298.00, for a total value of $1,880,678.00. Following the completion of the sale, the vice president now directly owns 63,147 shares in the company, valued at approximately $18,817,806. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gloria A. Flach sold 7,741 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $296.45, for a total value of $2,294,819.45. Following the completion of the sale, the chief operating officer now owns 77,200 shares of the company’s stock, valued at approximately $22,885,940. The disclosure for this sale can be found here. Insiders sold a total of 21,417 shares of company stock valued at $6,365,189 over the last 90 days. 0.70% of the stock is currently owned by company insiders.
Northrop Grumman Co. (NYSE NOC) traded up $1.18 during trading hours on Thursday, hitting $308.46. The stock had a trading volume of 746,300 shares, compared to its average volume of 780,959. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.05. The stock has a market cap of $53,490.84, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 3.09 and a beta of 0.69. Northrop Grumman Co. has a 52-week low of $223.88 and a 52-week high of $311.08.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, topping the consensus estimate of $2.92 by $0.76. The firm had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.33 billion. Northrop Grumman had a return on equity of 39.76% and a net margin of 9.24%. Northrop Grumman’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.35 EPS. research analysts anticipate that Northrop Grumman Co. will post 13.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 1.30%. Northrop Grumman’s dividend payout ratio (DPR) is 29.81%.
Several research firms have recently weighed in on NOC. Royal Bank of Canada increased their price target on Northrop Grumman from $324.00 to $347.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Goldman Sachs Group set a $320.00 price target on Northrop Grumman and gave the company a “buy” rating in a report on Thursday, October 26th. Cowen reissued a “hold” rating and set a $300.00 price target (up from $275.00) on shares of Northrop Grumman in a report on Thursday, October 26th. J P Morgan Chase & Co raised Northrop Grumman from a “neutral” rating to an “overweight” rating and increased their price target for the company from $317.00 to $355.00 in a report on Tuesday. Finally, Zacks Investment Research cut Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $298.67.
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Northrop Grumman Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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