Aigen Investment Management LP Sells 2,814 Shares of Northrop Grumman Co. (NYSE:NOC)

Aigen Investment Management LP decreased its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 47.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,115 shares of the aerospace company’s stock after selling 2,814 shares during the period. Aigen Investment Management LP’s holdings in Northrop Grumman were worth $1,645,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NOC. Optimum Investment Advisors lifted its position in shares of Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares in the last quarter. Bank & Trust Co purchased a new position in Northrop Grumman in the second quarter valued at about $28,000. Meeder Asset Management Inc. increased its holdings in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Northrop Grumman during the third quarter valued at about $40,000. Finally, Strategic Financial Concepts LLC purchased a new position in Northrop Grumman during the second quarter worth about $47,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Down 0.0 %

NOC stock traded down $0.21 during trading on Tuesday, reaching $533.49. The company had a trading volume of 20,866 shares, compared to its average volume of 859,131. The business has a 50 day moving average of $523.97 and a 200 day moving average of $485.43. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The company has a market cap of $77.73 billion, a P/E ratio of 33.07, a PEG ratio of 1.07 and a beta of 0.35. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly 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%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.18 earnings per share. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 25.95 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors 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 1.54%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NOC shares. TD Cowen raised Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Susquehanna boosted their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” 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 price objective for the stock from $474.00 to $575.00 in a report on Monday, July 29th. Citigroup upped their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley lifted their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman currently has a consensus rating of “Hold” and a consensus 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.