Kentucky Retirement Systems Decreases Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Kentucky Retirement Systems lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 8.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,577 shares of the aerospace company’s stock after selling 906 shares during the quarter. Kentucky Retirement Systems’ holdings in Northrop Grumman were worth $5,057,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Optimum Investment Advisors grew its position in Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 41 shares during the period. Bank & Trust Co purchased a new position in shares of Northrop Grumman in the 2nd quarter worth $28,000. Meeder Asset Management Inc. grew its holdings in shares of Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Northrop Grumman during the third quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Northrop Grumman in the second quarter valued at about $52,000. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOC has been the subject of several research reports. Barclays upped their price target on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. UBS Group increased their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Susquehanna boosted their price objective on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada lifted their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman has a consensus rating of “Hold” and an average price target of $550.56.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 1,289 shares of company stock worth $685,273. Insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

NOC stock opened at $493.99 on Friday. The company has a market capitalization of $71.97 billion, a PE ratio of 30.61, a price-to-earnings-growth ratio of 1.00 and a beta of 0.35. The company’s fifty day moving average price is $523.27 and its 200-day moving average price is $486.19. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the prior year, the firm earned $6.18 EPS. The business’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

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

About Northrop Grumman

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.