B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lessened its position in shares of Northrop Grumman Co. (NYSE:NOC) by 55.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,980 shares of the aerospace company’s stock after selling 3,746 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Northrop Grumman were worth $917,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NOC. Cornerstone Wealth Management LLC raised its position in shares of Northrop Grumman by 31,477.7% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 779,970 shares of the aerospace company’s stock valued at $2,525,000 after buying an additional 777,500 shares during the period. Point72 Asset Management L.P. raised its position in shares of Northrop Grumman by 1,187.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 439,175 shares of the aerospace company’s stock valued at $135,134,000 after buying an additional 405,075 shares during the period. Millennium Management LLC raised its position in shares of Northrop Grumman by 153.0% during the 2nd quarter. Millennium Management LLC now owns 600,981 shares of the aerospace company’s stock valued at $184,922,000 after buying an additional 363,407 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Northrop Grumman by 289.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 408,550 shares of the aerospace company’s stock valued at $142,633,000 after buying an additional 303,769 shares during the period. Finally, PointState Capital LP purchased a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $99,988,000. 81.48% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on NOC shares. Buckingham Research raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and lifted their price target for the company from $246.00 to $371.00 in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 target price on the stock in a research report on Monday, June 11th. Goldman Sachs Group cut their target price on Northrop Grumman to $414.00 and set a “conviction-buy” rating on the stock in a research report on Thursday, July 26th. Stifel Nicolaus reissued a “hold” rating and issued a $300.00 target price on shares of Northrop Grumman in a research report on Thursday, July 26th. Finally, ValuEngine lowered Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Tuesday, June 12th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $362.16.

NYSE:NOC opened at $303.41 on Friday. The firm has a market capitalization of $52.75 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.60 and a beta of 0.67. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.24 and a quick ratio of 1.15. Northrop Grumman Co. has a 52 week low of $264.69 and a 52 week high of $360.88.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $3.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.84 by $0.09. The business had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.16 earnings per share. sell-side analysts anticipate that Northrop Grumman Co. will post 16.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Monday, August 27th were paid a $1.20 dividend. The ex-dividend date of this dividend was Friday, August 24th. This represents a $4.80 annualized dividend and a dividend yield of 1.58%. Northrop Grumman’s dividend payout ratio (DPR) is 36.14%.

In other Northrop Grumman news, VP David T. Perry sold 4,425 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $300.27, for a total value of $1,328,694.75. Following the completion of the transaction, the vice president now owns 28,112 shares in the company, valued at $8,441,190.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Mark A. Caylor sold 4,543 shares of the business’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $297.45, for a total transaction of $1,351,315.35. Following the completion of the transaction, the vice president now owns 24,592 shares of the company’s stock, valued at approximately $7,314,890.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,475 shares of company stock valued at $9,390,331. Insiders own 0.62% of the company’s stock.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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