Renaissance Technologies LLC Decreases Stake in Northrop Grumman Co. (NYSE:NOC)

Renaissance Technologies LLC trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 28.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,300 shares of the aerospace company's stock after selling 80,500 shares during the period. Renaissance Technologies LLC owned 0.14% of Northrop Grumman worth $93,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Bank of Nova Scotia raised its stake in Northrop Grumman by 11.4% in the 4th quarter. Bank of Nova Scotia now owns 109,529 shares of the aerospace company's stock valued at $51,401,000 after acquiring an additional 11,171 shares during the period. Invesco Ltd. raised its position in shares of Northrop Grumman by 24.7% in the fourth quarter. Invesco Ltd. now owns 1,733,680 shares of the aerospace company's stock valued at $813,599,000 after purchasing an additional 343,018 shares during the period. Bank of Montreal Can lifted its stake in shares of Northrop Grumman by 3.7% during the 4th quarter. Bank of Montreal Can now owns 240,321 shares of the aerospace company's stock valued at $112,780,000 after buying an additional 8,585 shares in the last quarter. Trek Financial LLC boosted its holdings in Northrop Grumman by 120.2% in the 4th quarter. Trek Financial LLC now owns 1,068 shares of the aerospace company's stock worth $501,000 after buying an additional 583 shares during the period. Finally, FMR LLC grew its stake in Northrop Grumman by 4.1% in the 4th quarter. FMR LLC now owns 2,807,223 shares of the aerospace company's stock valued at $1,317,402,000 after buying an additional 109,308 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,505 shares of company stock valued at $2,127,182. Corporate insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NOC shares. The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their price target for the company from $424.00 to $521.00 in a research report on Friday. Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Susquehanna cut their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Argus upgraded shares of Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Finally, Barclays reduced their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Northrop Grumman presently has an average rating of "Moderate Buy" and a consensus target price of $543.65.

Northrop Grumman Trading Up 0.4 %

NOC traded up $2.18 during trading on Monday, hitting $536.17. 203,584 shares of the stock were exchanged, compared to its average volume of 1,033,618. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The firm has a 50 day simple moving average of $481.83 and a 200 day simple moving average of $491.44. The firm has a market cap of $77.28 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 3.73 and a beta of 0.20. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, equities analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.54%. Northrop Grumman's dividend payout ratio is presently 29.08%.

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.