QRG Capital Management Inc. Sells 5,100 Shares of Northrop Grumman Co. (NYSE:NOC)

QRG Capital Management Inc. lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOCFree Report) by 32.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,694 shares of the aerospace company’s stock after selling 5,100 shares during the quarter. QRG Capital Management Inc.’s holdings in Northrop Grumman were worth $5,006,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NOC. International Assets Investment Management LLC bought a new stake in shares of Northrop Grumman during the 4th quarter valued at about $283,114,000. Invesco Ltd. boosted its position in shares of Northrop Grumman by 74.7% during the 3rd quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock valued at $517,028,000 after acquiring an additional 502,060 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Northrop Grumman by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,488,412 shares of the aerospace company’s stock valued at $1,975,754,000 after acquiring an additional 410,736 shares during the last quarter. London Co. of Virginia bought a new stake in shares of Northrop Grumman during the 3rd quarter valued at about $165,786,000. Finally, Cerity Partners LLC boosted its position in shares of Northrop Grumman by 2,801.7% during the 4th quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock valued at $154,720,000 after acquiring an additional 319,109 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Up 0.5 %

Northrop Grumman stock traded up $2.31 during trading hours on Monday, reaching $477.11. The company had a trading volume of 246,204 shares, compared to its average volume of 992,903. The firm has a market cap of $70.61 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 1.95 and a beta of 0.34. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $496.89. The company has a 50-day moving average price of $466.34 and a 200 day moving average price of $465.20. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02.

Northrop Grumman (NYSE:NOCGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. The firm had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $5.50 EPS. Equities analysts forecast that Northrop Grumman Co. will post 24.7 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were given a $1.87 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.57%. Northrop Grumman’s dividend payout ratio is currently 52.31%.

Insider Activity at Northrop Grumman

In related news, CAO Michael A. Hardesty sold 955 shares of Northrop Grumman stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the sale, the chief accounting officer now directly owns 4,137 shares in the company, valued at $1,863,180.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the sale, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the sale, the chief accounting officer now directly owns 4,137 shares in the company, valued at $1,863,180.69. The disclosure for this sale can be found here. Insiders have sold 3,149 shares of company stock worth $1,421,147 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price objective on the stock in a report on Monday, April 22nd. Susquehanna raised their price objective on Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a report on Friday, April 26th. Wells Fargo & Company raised their price objective on Northrop Grumman from $483.00 to $518.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Royal Bank of Canada raised their price objective on Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Finally, TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $514.33.

Check Out Our Latest Analysis on Northrop Grumman

About Northrop Grumman

(Free Report)

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.

See Also

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

Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.