California State Teachers Retirement System cut its position in Northrop Grumman Co. (NYSE:NOC) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 272,441 shares of the aerospace company’s stock after selling 4,354 shares during the period. California State Teachers Retirement System owned about 0.16% of Northrop Grumman worth $83,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Icon Wealth Partners LLC purchased a new position in Northrop Grumman during the fourth quarter valued at $100,000. Truewealth LLC purchased a new position in Northrop Grumman during the fourth quarter valued at $110,000. Ropes Wealth Advisors LLC purchased a new position in Northrop Grumman during the third quarter valued at $144,000. Crewe Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter valued at $159,000. Finally, Hanseatic Management Services Inc. grew its stake in Northrop Grumman by 39.7% during the third quarter. Hanseatic Management Services Inc. now owns 591 shares of the aerospace company’s stock valued at $170,000 after acquiring an additional 168 shares in the last quarter. 80.69% of the stock is owned by institutional investors.
Several research firms recently weighed in on NOC. Citigroup reaffirmed a “buy” rating and set a $405.00 target price on shares of Northrop Grumman in a research note on Monday. ValuEngine raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $365.00 target price (up from $336.00) on shares of Northrop Grumman in a research note on Friday, February 23rd. Goldman Sachs Group cut shares of Northrop Grumman from a “conviction-buy” rating to a “buy” rating and set a $395.00 target price for the company. in a research note on Tuesday, February 20th. Finally, Jefferies Group raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Northrop Grumman presently has an average rating of “Buy” and a consensus target price of $358.64.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $0.07. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates of $6.34 billion. During the same quarter last year, the business earned $2.96 earnings per share. Northrop Grumman’s quarterly revenue was up 3.7% compared to the same quarter last year. equities research analysts forecast that Northrop Grumman Co. will post 15.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Monday, March 5th will be given a dividend of $1.10 per share. The ex-dividend date is Friday, March 2nd. This represents a $4.40 annualized dividend and a yield of 1.28%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio (DPR) is 33.38%.
In other news, VP Michael A. Hardesty sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $351.06, for a total value of $1,032,467.46. Following the completion of the sale, the vice president now owns 9,202 shares in the company, valued at approximately $3,230,454.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Denise M. Peppard sold 2,539 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $335.12, for a total transaction of $850,869.68. Following the completion of the sale, the vice president now owns 38,613 shares of the company’s stock, valued at approximately $12,939,988.56. The disclosure for this sale can be found here. Insiders have sold 8,344 shares of company stock valued at $2,896,627 in the last quarter. 0.70% of the stock is owned by company insiders.
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Northrop Grumman Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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