Sumitomo Mitsui Trust Group Inc. Increases Stake in Northrop Grumman Co. (NYSE:NOC)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 353,466 shares of the aerospace company’s stock after acquiring an additional 1,028 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Northrop Grumman worth $186,655,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Optimum Investment Advisors grew its holdings in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares during the period. Bank & Trust Co bought a new position in shares of Northrop Grumman during the 2nd quarter valued at approximately $28,000. Meeder Asset Management Inc. increased its holdings in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman during the 3rd quarter worth approximately $40,000. Finally, Strategic Financial Concepts LLC purchased a new position in Northrop Grumman during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 0.4 %

Shares of NYSE:NOC opened at $531.38 on Wednesday. The company has a market cap of $77.42 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 1.08 and a beta of 0.35. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $523.97 and a 200 day moving average price of $485.43.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $6.18 EPS. As a group, equities research analysts predict that Northrop Grumman Co. will post 25.95 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Analyst Ratings Changes

Several brokerages recently weighed in on NOC. Morgan Stanley upped their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and upped their price objective for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Wells Fargo & Company lifted their target price on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. UBS Group upped their price target on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada lifted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $550.56.

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.