Thrivent Financial for Lutherans Cuts Holdings in Northrop Grumman Co. (NYSE:NOC)

Thrivent Financial for Lutherans reduced its stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 201,377 shares of the aerospace company's stock after selling 5,659 shares during the period. Thrivent Financial for Lutherans owned about 0.14% of Northrop Grumman worth $94,555,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of NOC. PDS Planning Inc grew its holdings in Northrop Grumman by 7.8% during the fourth quarter. PDS Planning Inc now owns 716 shares of the aerospace company's stock worth $336,000 after buying an additional 52 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Northrop Grumman by 14.2% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,859 shares of the aerospace company's stock worth $872,000 after acquiring an additional 231 shares in the last quarter. Aspen Wealth Strategies LLC grew its stake in shares of Northrop Grumman by 6.7% in the 4th quarter. Aspen Wealth Strategies LLC now owns 904 shares of the aerospace company's stock worth $424,000 after acquiring an additional 57 shares in the last quarter. Cibc World Markets Corp raised its holdings in shares of Northrop Grumman by 15.3% in the fourth quarter. Cibc World Markets Corp now owns 21,728 shares of the aerospace company's stock valued at $10,197,000 after purchasing an additional 2,889 shares during the last quarter. Finally, Twin Tree Management LP lifted its position in shares of Northrop Grumman by 103.0% during the fourth quarter. Twin Tree Management LP now owns 1,906 shares of the aerospace company's stock valued at $894,000 after purchasing an additional 65,469 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the sale, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. This represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Benjamin R. Davies sold 192 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now owns 709 shares of the company's stock, valued at $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is owned by corporate insiders.

Northrop Grumman Stock Performance

NYSE NOC traded up $3.02 during trading on Friday, hitting $492.25. 2,084,666 shares of the company's stock traded hands, compared to its average volume of 830,441. The stock has a market capitalization of $71.26 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 3.73 and a beta of 0.31. 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 business has a 50 day moving average of $475.18 and a 200-day moving average of $493.32. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month 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 EPS for the quarter, beating analysts' consensus estimates 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 research analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has initiated a stock buyback plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

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. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Monday, March 3rd. Northrop Grumman's payout ratio is currently 29.08%.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent analyst reports. UBS Group reduced their price objective on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating for the company in a research report on Friday, January 31st. StockNews.com lowered Northrop Grumman from a "strong-buy" rating to a "buy" rating in a report on Monday, February 3rd. Susquehanna dropped their price target on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Argus upgraded Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Barclays decreased their target price on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $542.88.

Northrop Grumman Company 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.