Northrop Grumman Co. (NYSE:NOC) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 14.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 163,306 shares of the aerospace company’s stock after selling 28,673 shares during the quarter. Northrop Grumman comprises approximately 1.9% of Penserra Capital Management LLC’s holdings, making the stock its 5th largest position. Penserra Capital Management LLC owned approximately 0.11% of Northrop Grumman worth $86,235,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Optimum Investment Advisors lifted its holdings in shares of Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after buying an additional 41 shares during the period. Bank & Trust Co acquired a new stake in shares of Northrop Grumman in the second quarter valued at $28,000. Meeder Asset Management Inc. lifted 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 valued at $33,000 after buying an additional 54 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman in the third quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Northrop Grumman during the second quarter worth $52,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 1,289 shares of company stock valued at $685,273. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOC. Citigroup boosted their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Alembic Global Advisors lowered Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research report on Tuesday, August 27th. TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Barclays upped their price target on Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley upped their price target on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman presently has a consensus rating of “Hold” and a consensus target price of $550.56.

Northrop Grumman Trading Up 0.1 %

Northrop Grumman stock opened at $496.87 on Friday. The business has a 50 day moving average price of $520.60 and a two-hundred day moving average price of $486.84. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The stock has a market cap of $72.39 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 1.00 and a beta of 0.35. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results 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 return on equity of 26.57% and a net margin of 5.79%. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the prior year, the firm posted $6.18 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $2.06 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.66%. Northrop Grumman’s payout ratio is presently 51.05%.

Northrop Grumman Profile

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.