TIAA CREF Investment Management LLC lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 23.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,097,048 shares of the aerospace company’s stock after selling 340,002 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.63% of Northrop Grumman worth $336,695,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. USS Investment Management Ltd raised its holdings in shares of Northrop Grumman by 7.0% in the 3rd quarter. USS Investment Management Ltd now owns 27,500 shares of the aerospace company’s stock worth $7,911,000 after purchasing an additional 1,800 shares during the period. Wright Investors Service Inc. raised its holdings in Northrop Grumman by 12.9% during the 4th quarter. Wright Investors Service Inc. now owns 8,865 shares of the aerospace company’s stock valued at $2,721,000 after acquiring an additional 1,014 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Northrop Grumman by 6.3% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,529 shares of the aerospace company’s stock valued at $11,949,000 after acquiring an additional 2,473 shares during the period. Artisan Partners Limited Partnership raised its holdings in Northrop Grumman by 45.7% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,222 shares of the aerospace company’s stock valued at $1,215,000 after acquiring an additional 1,325 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in Northrop Grumman by 7.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 14,182 shares of the aerospace company’s stock valued at $4,080,000 after acquiring an additional 954 shares during the period. 80.69% of the stock is currently owned by institutional investors.
In other news, VP Janis G. Pamiljans sold 1,568 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $354.30, for a total value of $555,542.40. Following the transaction, the vice president now owns 6,677 shares of the company’s stock, valued at $2,365,661.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Michael A. Hardesty sold 1,296 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $353.20, for a total transaction of $457,747.20. Following the completion of the transaction, the vice president now owns 6,677 shares of the company’s stock, valued at $2,358,316.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,344 shares of company stock worth $2,896,627. Insiders own 0.70% of the company’s stock.
Northrop Grumman Co. (NOC) opened at $344.33 on Wednesday. The firm has a market cap of $60,011.48, a price-to-earnings ratio of 30.02, a PEG ratio of 2.47 and a beta of 0.78. Northrop Grumman Co. has a 1-year low of $233.20 and a 1-year high of $359.43. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.35 and a quick ratio of 2.24.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.07. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.34 billion. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.96 earnings per share. research analysts expect that Northrop Grumman Co. will post 15.25 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, March 5th will be issued a $1.10 dividend. The ex-dividend date is Friday, March 2nd. This represents a $4.40 annualized dividend and a dividend yield of 1.28%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio is presently 38.36%.
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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