Northrop Grumman Co. (NYSE:NOC) Shares Sold by Empire Life Investments Inc.

Empire Life Investments Inc. lessened its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,701 shares of the aerospace company’s stock after selling 800 shares during the period. Northrop Grumman comprises 2.2% of Empire Life Investments Inc.’s investment portfolio, making the stock its 12th biggest holding. Empire Life Investments Inc.’s holdings in Northrop Grumman were worth $35,751,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NOC. Optimum Investment Advisors lifted its holdings in 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 buying an additional 41 shares during the last quarter. Bank & Trust Co purchased a new stake in Northrop Grumman during the second quarter worth approximately $28,000. Meeder Asset Management Inc. boosted its holdings in Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Northrop Grumman in the second quarter valued at approximately $47,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Northrop Grumman by 281.5% in the 1st quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock valued at $49,000 after buying an additional 76 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

NOC opened at $506.95 on Friday. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The stock has a market cap of $73.86 billion, a P/E ratio of 31.41, a P/E/G ratio of 1.03 and a beta of 0.35. The stock’s 50 day simple moving average is $523.52 and its 200 day simple moving average is $483.07. 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 earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate 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%. Northrop Grumman’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.18 earnings per share. As a group, equities analysts anticipate that Northrop Grumman Co. will post 25.95 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on NOC. JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Susquehanna boosted their price objective on Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Royal Bank of Canada increased their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and lifted their price objective for the company from $474.00 to $575.00 in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Hold” and a consensus target price of $550.56.

About Northrop Grumman

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.