Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 10.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,170 shares of the aerospace company’s stock after selling 2,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Northrop Grumman were worth $5,449,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. St. Johns Investment Management Company LLC boosted its position in Northrop Grumman by 5.1% during the third quarter. St. Johns Investment Management Company LLC now owns 3,395 shares of the aerospace company’s stock worth $1,077,000 after acquiring an additional 166 shares during the last quarter. Torch Wealth Management LLC boosted its position in Northrop Grumman by 3.7% during the second quarter. Torch Wealth Management LLC now owns 4,862 shares of the aerospace company’s stock worth $1,496,000 after acquiring an additional 175 shares during the last quarter. Advisor Partners LLC boosted its position in Northrop Grumman by 3.7% during the third quarter. Advisor Partners LLC now owns 5,353 shares of the aerospace company’s stock worth $1,699,000 after acquiring an additional 189 shares during the last quarter. Sun Life Financial INC boosted its position in Northrop Grumman by 71.0% during the second quarter. Sun Life Financial INC now owns 472 shares of the aerospace company’s stock worth $145,000 after acquiring an additional 196 shares during the last quarter. Finally, Harwood Advisory Group LLC boosted its position in Northrop Grumman by 24.2% during the second quarter. Harwood Advisory Group LLC now owns 1,027 shares of the aerospace company’s stock worth $317,000 after acquiring an additional 200 shares during the last quarter. 79.67% of the stock is owned by institutional investors and hedge funds.

In other news, VP Lesley A. Kalan sold 4,158 shares of the firm’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $285.58, for a total value of $1,187,441.64. Following the transaction, the vice president now owns 10,752 shares of the company’s stock, valued at approximately $3,070,556.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Shawn N. Purvis sold 1,565 shares of the firm’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $273.39, for a total transaction of $427,855.35. Following the completion of the transaction, the vice president now directly owns 4,326 shares in the company, valued at approximately $1,182,685.14. The disclosure for this sale can be found here. In the last three months, insiders sold 37,715 shares of company stock worth $11,192,664. Insiders own 0.62% of the company’s stock.

Shares of NOC opened at $269.26 on Tuesday. Northrop Grumman Co. has a fifty-two week low of $251.66 and a fifty-two week high of $360.88. The company has a current ratio of 1.26, a quick ratio of 1.17 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $47.34 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.03 and a beta of 0.83.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, October 24th. The aerospace company reported $6.54 EPS for the quarter, beating the Zacks’ consensus estimate of $4.35 by $2.19. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.99 billion. During the same quarter last year, the firm posted $3.67 EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. Sell-side analysts forecast that Northrop Grumman Co. will post 19.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Monday, December 3rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, November 30th. Northrop Grumman’s dividend payout ratio is presently 36.14%.

NOC has been the topic of a number of research analyst reports. UBS Group initiated coverage on shares of Northrop Grumman in a report on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 price target on the stock. Zacks Investment Research lowered shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a report on Friday, October 26th. Citigroup decreased their price target on shares of Northrop Grumman from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. Jefferies Financial Group decreased their price target on shares of Northrop Grumman from $400.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Finally, Morgan Stanley decreased their price target on shares of Northrop Grumman from $346.00 to $318.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 14th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $353.65.

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About Northrop Grumman

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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