Teachers Retirement System of The State of Kentucky lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,270 shares of the aerospace company’s stock after selling 500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Northrop Grumman were worth $5,607,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ibex Wealth Advisors boosted its stake in shares of Northrop Grumman by 2.1% in the fourth quarter. Ibex Wealth Advisors now owns 7,330 shares of the aerospace company’s stock valued at $2,259,000 after buying an additional 153 shares during the period. Clifford Swan Investment Counsel LLC lifted its stake in shares of Northrop Grumman by 0.6% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 26,398 shares of the aerospace company’s stock valued at $8,102,000 after acquiring an additional 165 shares during the last quarter. Monroe Bank & Trust MI lifted its stake in shares of Northrop Grumman by 16.1% in the 3rd quarter. Monroe Bank & Trust MI now owns 1,205 shares of the aerospace company’s stock valued at $280,000 after acquiring an additional 167 shares during the last quarter. Hanseatic Management Services Inc. lifted its stake in shares of Northrop Grumman by 39.7% in the 3rd quarter. Hanseatic Management Services Inc. now owns 591 shares of the aerospace company’s stock valued at $170,000 after acquiring an additional 168 shares during the last quarter. Finally, BB&T Securities LLC lifted its stake in shares of Northrop Grumman by 2.4% in the 3rd quarter. BB&T Securities LLC now owns 7,147 shares of the aerospace company’s stock valued at $2,056,000 after acquiring an additional 169 shares during the last quarter. Institutional investors and hedge funds own 80.71% of the company’s stock.
Northrop Grumman stock opened at $351.72 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 2.04. Northrop Grumman Co. has a 52 week low of $237.39 and a 52 week high of $360.88. The company has a market cap of $62,676.76, a price-to-earnings ratio of 26.48, a PEG ratio of 2.58 and a beta of 0.78.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $0.07. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The company had revenue of $6.63 billion during the quarter, compared to analyst estimates of $6.34 billion. During the same quarter last year, the business posted $2.96 EPS. Northrop Grumman’s quarterly revenue was up 3.7% compared to the same quarter last year. sell-side analysts expect that Northrop Grumman Co. will post 15.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Monday, March 5th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.25%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, March 2nd. Northrop Grumman’s payout ratio is currently 33.13%.
A number of brokerages have recently commented on NOC. Barclays began coverage on Northrop Grumman in a research note on Thursday, March 29th. They issued an “overweight” rating and a $400.00 price target for the company. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $386.00 price objective for the company in a report on Thursday, March 29th. Royal Bank of Canada set a $389.00 price objective on Northrop Grumman and gave the company a “buy” rating in a report on Tuesday, January 23rd. Argus increased their price target on Northrop Grumman to $375.00 and gave the stock a “positive” rating in a report on Monday, February 5th. Finally, Robert W. Baird reiterated a “buy” rating and set a $394.00 price target on shares of Northrop Grumman in a report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $364.00.
In other news, VP Michael A. Hardesty sold 2,941 shares of Northrop Grumman stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $351.06, for a total transaction of $1,032,467.46. Following the completion of the sale, the vice president now directly owns 9,202 shares of the company’s stock, valued at approximately $3,230,454.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Hardesty sold 1,296 shares of Northrop Grumman stock in a transaction on Monday, February 26th. The stock was sold at an average price of $353.20, for a total transaction of $457,747.20. Following the sale, the vice president now directly owns 6,677 shares of the company’s stock, valued at $2,358,316.40. The disclosure for this sale can be found here. Insiders sold a total of 9,299 shares of company stock valued at $3,220,228 over the last quarter. 0.70% of the stock is owned by company insiders.
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About Northrop Grumman
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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