Brooklyn Investment Group Has $562,000 Position in Northrop Grumman Co. (NYSE:NOC)

Brooklyn Investment Group cut its position in shares of Northrop Grumman Co. (NYSE:NOC) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,064 shares of the aerospace company’s stock after selling 29 shares during the period. Brooklyn Investment Group’s holdings in Northrop Grumman were worth $562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. AIA Group Ltd increased its position in Northrop Grumman by 20.0% during the third quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after buying an additional 1,242 shares during the last quarter. Aviso Wealth Management increased its holdings in shares of Northrop Grumman by 110.7% during the 2nd quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock worth $827,000 after acquiring an additional 996 shares during the last quarter. Susquehanna International Securities Ltd. bought a new stake in Northrop Grumman in the 2nd quarter valued at $1,133,000. GAMMA Investing LLC lifted its holdings in Northrop Grumman by 133.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,248 shares of the aerospace company’s stock valued at $980,000 after purchasing an additional 1,287 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Northrop Grumman by 40.8% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,660 shares of the aerospace company’s stock valued at $1,933,000 after purchasing an additional 1,060 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NOC. Morgan Stanley increased their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Royal Bank of Canada increased their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research report on Tuesday, August 27th. UBS Group upped their target price on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Barclays lifted their price target on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Stock Down 2.3 %

NOC stock opened at $485.27 on Tuesday. The company has a market cap of $70.70 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 1.00 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The business has a 50-day simple moving average of $519.87 and a 200 day simple moving average of $487.03.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.18 EPS. Sell-side analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, December 2nd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 1,289 shares of company stock worth $685,273. Insiders own 0.22% of the company’s stock.

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.