Northrop Grumman Co. (NYSE:NOC) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 5.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 91,696 shares of the aerospace company's stock after selling 4,790 shares during the period. Retirement Systems of Alabama owned 0.06% of Northrop Grumman worth $48,422,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC raised its position in shares of Northrop Grumman by 2.6% in the third quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company's stock worth $112,222,000 after buying an additional 5,334 shares in the last quarter. AIA Group Ltd boosted its position in shares of Northrop Grumman by 20.0% during the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company's stock valued at $3,938,000 after acquiring an additional 1,242 shares during the last quarter. Aviso Wealth Management grew its holdings in shares of Northrop Grumman by 110.7% during the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company's stock worth $827,000 after purchasing an additional 996 shares in the last quarter. Susquehanna International Securities Ltd. bought a new position in shares of Northrop Grumman in the second quarter worth approximately $1,133,000. Finally, Meridian Wealth Management LLC purchased a new stake in Northrop Grumman in the third quarter valued at approximately $4,089,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company's stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 1,255 shares of company stock valued at $666,461. Insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of research reports. Citigroup boosted 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. Royal Bank of Canada increased their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Barclays lifted their price target on Northrop Grumman from $500.00 to $550.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Alembic Global Advisors lowered Northrop Grumman from an "overweight" rating to a "neutral" rating and set a $560.00 price objective on the stock. in a research report on Tuesday, August 27th. Finally, StockNews.com cut Northrop Grumman from a "strong-buy" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of "Hold" and an average target price of $546.81.

Northrop Grumman Stock Down 0.3 %

NYSE NOC traded down $1.51 during midday trading on Friday, hitting $480.00. 699,634 shares of the company traded hands, compared to its average volume of 861,732. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company's 50-day simple moving average is $506.77 and its 200-day simple moving average is $487.97. The company has a market cap of $69.94 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 0.96 and a beta of 0.33. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping 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 quarter last year, the firm earned $6.18 EPS. The business's quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman declared that its board has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Monday, December 2nd. Northrop Grumman's dividend payout ratio (DPR) is presently 51.05%.

About Northrop Grumman

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.