Fmr LLC Decreases Position in Northrop Grumman Co. (NYSE:NOC)

Fmr LLC cut its stake in Northrop Grumman Co. (NYSE:NOC) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,697,915 shares of the aerospace company’s stock after selling 155,520 shares during the quarter. Fmr LLC owned approximately 1.85% of Northrop Grumman worth $1,424,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Optimum Investment Advisors boosted its holdings in shares of Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 41 shares during the last quarter. Bank & Trust Co acquired a new position in shares of Northrop Grumman during the 2nd quarter worth approximately $28,000. Meeder Asset Management Inc. boosted its holdings in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $40,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Northrop Grumman during the 2nd quarter worth approximately $47,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 1,289 shares of company stock valued at $685,273. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Stock Up 0.7 %

Shares of NYSE NOC opened at $488.43 on Wednesday. The firm has a market cap of $71.16 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 0.98 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The business’s 50 day moving average is $519.22 and its two-hundred day moving average is $487.12.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. During the same quarter in the previous year, the company earned $6.18 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts predict that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group boosted their target price on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Morgan Stanley lifted their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Susquehanna lifted their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Finally, Citigroup lifted their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $550.56.

Northrop Grumman Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.