Northrop Grumman Co. (NYSE:NOC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 13.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 193,121 shares of the aerospace company’s stock after selling 30,900 shares during the quarter. New York State Common Retirement Fund’s holdings in Northrop Grumman were worth $101,981,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR grew its stake in Northrop Grumman by 4.9% in the 3rd quarter. Stephens Inc. AR now owns 12,513 shares of the aerospace company’s stock valued at $6,608,000 after acquiring an additional 583 shares during the period. Aspen Wealth Strategies LLC acquired a new position in Northrop Grumman during the third quarter worth $447,000. Baron Silver Stevens Financial Advisors LLC acquired a new stake in shares of Northrop Grumman in the third quarter valued at about $215,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Northrop Grumman during the third quarter worth about $217,000. Finally, Cornerstone Wealth Group LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth about $229,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Trading Down 0.4 %

NYSE NOC opened at $506.86 on Friday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a market capitalization of $73.85 billion, a P/E ratio of 31.40, a PEG ratio of 1.02 and a beta of 0.34. The firm’s 50-day moving average is $523.52 and its two-hundred day moving average is $482.84. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter last year, the company posted $6.18 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Northrop Grumman Co. will post 25.95 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.63%. Northrop Grumman’s payout ratio is presently 51.05%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NOC. JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Morgan Stanley lifted their price target on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Wells Fargo & Company increased their price objective on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and lifted their target price for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Finally, Susquehanna increased their target price 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $550.56.

Northrop Grumman Company 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.