Northrop Grumman Co. (NOC) Holdings Cut by Federated Investors Inc. PA

Federated Investors Inc. PA lowered its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 13.6% during the second quarter, HoldingsChannel reports. The firm owned 2,495 shares of the aerospace company’s stock after selling 394 shares during the period. Federated Investors Inc. PA’s holdings in Northrop Grumman were worth $768,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. PointState Capital LP purchased a new position in shares of Northrop Grumman in the first quarter valued at approximately $99,988,000. Fluent Financial LLC lifted its position in shares of Northrop Grumman by 16.4% in the second quarter. Fluent Financial LLC now owns 3,129 shares of the aerospace company’s stock valued at $963,000 after acquiring an additional 440 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Northrop Grumman by 16.3% in the first quarter. The Manufacturers Life Insurance Company now owns 254,452 shares of the aerospace company’s stock valued at $88,834,000 after acquiring an additional 35,748 shares in the last quarter. RB Capital Management LLC lifted its position in shares of Northrop Grumman by 18.8% in the second quarter. RB Capital Management LLC now owns 1,361 shares of the aerospace company’s stock valued at $419,000 after acquiring an additional 215 shares in the last quarter. Finally, Rovida Advisors Inc. lifted its position in shares of Northrop Grumman by 33.5% in the second quarter. Rovida Advisors Inc. now owns 221,589 shares of the aerospace company’s stock valued at $68,192,000 after acquiring an additional 55,654 shares in the last quarter. Institutional investors own 81.45% of the company’s stock.

NOC stock opened at $306.11 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 1.75. The firm has a market cap of $53.40 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 1.62 and a beta of 0.68. Northrop Grumman Co. has a 52-week low of $278.88 and a 52-week high of $360.88.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $0.09. The company had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Northrop Grumman had a return on equity of 34.88% and a net margin of 8.33%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.16 earnings per share. equities research analysts anticipate that Northrop Grumman Co. will post 16.84 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Monday, August 27th were paid a dividend of $1.20 per share. The ex-dividend date was Friday, August 24th. This represents a $4.80 annualized dividend and a yield of 1.57%. Northrop Grumman’s dividend payout ratio (DPR) is 36.14%.

Several research firms have recently weighed in on NOC. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 target price on the stock in a research report on Monday, June 11th. Credit Suisse Group increased their price target on Northrop Grumman from $326.00 to $341.00 and gave the company a “neutral” rating in a report on Wednesday, June 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $300.00 price target on shares of Northrop Grumman in a report on Thursday, July 26th. Goldman Sachs Group cut their price target on Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a report on Thursday, July 26th. Finally, JPMorgan Chase & Co. cut their price target on Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $365.83.

In other Northrop Grumman news, VP Patrick M. Antkowiak sold 5,137 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $310.00, for a total transaction of $1,592,470.00. Following the completion of the sale, the vice president now owns 5,371 shares of the company’s stock, valued at $1,665,010. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP David T. Perry sold 4,425 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $300.27, for a total value of $1,328,694.75. Following the sale, the vice president now directly owns 28,112 shares of the company’s stock, valued at approximately $8,441,190.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,612 shares of company stock valued at $10,982,801. 0.62% of the stock is owned by insiders.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC).

Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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