Northrop Grumman Co. (NYSE:NOC) Position Boosted by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,567 shares of the aerospace company’s stock after acquiring an additional 400 shares during the period. Public Sector Pension Investment Board’s holdings in Northrop Grumman were worth $2,940,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated 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 approximately $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 1,255 shares of company stock worth $667,727 in the last quarter. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NOC. Susquehanna upped their price target 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. Citigroup increased their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley raised their price objective on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of “Hold” and an average price target of $550.56.

Northrop Grumman Stock Performance

NYSE:NOC opened at $485.02 on Wednesday. The stock has a market capitalization of $70.67 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 0.98 and a beta of 0.33. 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. The firm has a 50 day moving average of $515.33 and a 200-day moving average of $487.66.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $6.18 EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Northrop Grumman Company 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.