Northrop Grumman Co. (NYSE:NOC) Stake Decreased by Martingale Asset Management L P

Martingale Asset Management L P decreased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,612 shares of the aerospace company’s stock after selling 2,612 shares during the period. Martingale Asset Management L P’s holdings in Northrop Grumman were worth $26,727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ascent Group LLC lifted its stake in shares of Northrop Grumman by 0.5% in the 2nd quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock valued at $1,891,000 after purchasing an additional 20 shares during the last quarter. Cornell Pochily Investment Advisors Inc. lifted its stake in shares of Northrop Grumman by 0.9% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock valued at $1,131,000 after purchasing an additional 20 shares during the last quarter. Asset Dedication LLC lifted its stake in shares of Northrop Grumman by 1.0% in the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after purchasing an additional 20 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in Northrop Grumman by 1.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after acquiring an additional 20 shares during the last quarter. Finally, PBMares Wealth Management LLC lifted its position in Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 1,255 shares of company stock valued at $667,727 over the last three months. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley increased their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Citigroup increased their target price on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Barclays increased their target price on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman presently has an average rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Stock Performance

NYSE NOC opened at $489.08 on Friday. The firm has a market cap of $71.26 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 0.99 and a beta of 0.35. The company has a 50 day moving average of $517.90 and a 200-day moving average of $487.15. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping 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 company had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same quarter last year, the business posted $6.18 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a dividend of $2.06 per share. The ex-dividend date is Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.68%. Northrop Grumman’s dividend payout ratio (DPR) is currently 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.