Northrop Grumman Co. (NYSE:NOC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in Northrop Grumman Co. (NYSE:NOC) by 5.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 207,036 shares of the aerospace company’s stock after selling 11,803 shares during the period. Thrivent Financial for Lutherans’ holdings in Northrop Grumman were worth $109,330,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of NOC. AIA Group Ltd raised its stake in shares of Northrop Grumman by 20.0% during the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock valued at $3,938,000 after buying an additional 1,242 shares during the last quarter. Aviso Wealth Management grew its holdings in Northrop Grumman by 110.7% during the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock worth $827,000 after acquiring an additional 996 shares during the period. Susquehanna International Securities Ltd. purchased a new position in Northrop Grumman during the second quarter valued at approximately $1,133,000. GAMMA Investing LLC lifted its holdings in Northrop Grumman by 133.9% in the second quarter. GAMMA Investing LLC now owns 2,248 shares of the aerospace company’s stock valued at $980,000 after acquiring an additional 1,287 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in Northrop Grumman by 40.8% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,660 shares of the aerospace company’s stock worth $1,933,000 after purchasing an additional 1,060 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Down 1.3 %

Shares of NYSE NOC opened at $493.99 on Monday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a market capitalization of $71.97 billion, a P/E ratio of 30.61, a P/E/G ratio of 1.00 and a beta of 0.35. The company has a 50 day simple moving average of $523.27 and a 200-day simple moving average of $486.19. 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 released its quarterly earnings results 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 return on equity of 26.57% and a net margin of 5.79%. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same period in the prior year, the business posted $6.18 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 51.05%.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares in the company, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 1,289 shares of company stock worth $685,273 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the subject of several analyst reports. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. TD Cowen raised Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and raised their price objective for the company from $474.00 to $575.00 in a report on Monday, July 29th. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Northrop Grumman currently has a consensus rating of “Hold” and an average price target 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.