Northrop Grumman Co. (NYSE:NOC) Stock Holdings Lessened by State of Wisconsin Investment Board

State of Wisconsin Investment Board cut its position in Northrop Grumman Co. (NYSE:NOC) by 9.2% during the 1st quarter, HoldingsChannel reports. The firm owned 159,980 shares of the aerospace company’s stock after selling 16,298 shares during the quarter. State of Wisconsin Investment Board’s holdings in Northrop Grumman were worth $51,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of NOC. OLD Mission Capital LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at about $5,643,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Northrop Grumman by 6.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,949 shares of the aerospace company’s stock worth $594,000 after purchasing an additional 125 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Northrop Grumman by 9.0% in the 4th quarter. Schroder Investment Management Group now owns 6,896 shares of the aerospace company’s stock worth $2,101,000 after purchasing an additional 570 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of Northrop Grumman by 17.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 14,343 shares of the aerospace company’s stock worth $4,369,000 after purchasing an additional 2,083 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Northrop Grumman in the 4th quarter worth approximately $257,000. Hedge funds and other institutional investors own 83.35% of the company’s stock.

Shares of NYSE:NOC opened at $361.46 on Thursday. Northrop Grumman Co. has a 52 week low of $282.88 and a 52 week high of $379.03. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.46 and a quick ratio of 1.36. The firm has a fifty day moving average price of $368.96. The firm has a market cap of $58.18 billion, a P/E ratio of 14.36, a PEG ratio of 1.68 and a beta of 0.84.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, April 29th. The aerospace company reported $6.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.48 by $1.09. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $8.49 billion. Northrop Grumman had a net margin of 12.10% and a return on equity of 40.40%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.48 EPS. On average, equities research analysts predict that Northrop Grumman Co. will post 24.51 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 16th. Investors of record on Tuesday, June 1st were given a dividend of $1.57 per share. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Friday, May 28th. This represents a $6.28 annualized dividend and a yield of 1.74%. Northrop Grumman’s dividend payout ratio is 26.55%.

Several brokerages have commented on NOC. Stifel Nicolaus upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and raised their target price for the stock from $350.00 to $475.00 in a report on Friday, June 4th. Susquehanna raised their target price on shares of Northrop Grumman from $350.00 to $409.00 and gave the stock a “positive” rating in a report on Friday, April 30th. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $391.00 target price for the company in a report on Tuesday, July 6th. Wells Fargo & Company began coverage on shares of Northrop Grumman in a report on Tuesday, May 18th. They issued an “underweight” rating and a $330.00 target price for the company. Finally, Morgan Stanley raised their target price on shares of Northrop Grumman from $447.00 to $478.00 and gave the stock an “overweight” rating in a report on Friday, April 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Northrop Grumman currently has a consensus rating of “Buy” and an average price target of $400.45.

In other Northrop Grumman news, VP Mark A. Caylor sold 2,961 shares of the business’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $352.04, for a total transaction of $1,042,390.44. Following the completion of the sale, the vice president now directly owns 10,019 shares of the company’s stock, valued at approximately $3,527,088.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kathy J. Warden sold 4,916 shares of the business’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $352.04, for a total value of $1,730,628.64. Following the sale, the chief executive officer now directly owns 114,040 shares of the company’s stock, valued at $40,146,641.60. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems for strategic and tactical intelligence, surveillance, and reconnaissance (ISR) missions; and long-range strike aircraft systems, tactical fighter aircrafts, and airborne battle management systems.

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

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