Northrop Grumman Co. (NYSE:NOC) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC decreased its holdings in Northrop Grumman Co. (NYSE:NOC) by 11.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,887 shares of the aerospace company’s stock after selling 797 shares during the quarter. Metis Global Partners LLC’s holdings in Northrop Grumman were worth $3,109,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Capital International Investors boosted its holdings in shares of Northrop Grumman by 5.6% in the first quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock valued at $5,623,128,000 after acquiring an additional 621,636 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Northrop Grumman by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock valued at $2,218,132,000 after purchasing an additional 211,459 shares during the last quarter. Capital World Investors grew its position in shares of Northrop Grumman by 0.6% in the first quarter. Capital World Investors now owns 3,688,511 shares of the aerospace company’s stock valued at $1,765,543,000 after purchasing an additional 23,398 shares during the last quarter. Legal & General Group Plc grew its holdings in Northrop Grumman by 16.0% during the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after buying an additional 150,367 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Northrop Grumman by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 683,427 shares of the aerospace company’s stock valued at $297,937,000 after purchasing an additional 125,262 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank of Canada raised their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Morgan Stanley boosted their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Citigroup lifted their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Susquehanna lifted their price objective on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Price Performance

Shares of NOC stock opened at $500.34 on Friday. The firm has a market capitalization of $72.90 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 1.05 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. The firm has a fifty day moving average of $524.08 and a 200-day moving average of $486.03. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

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

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 1,289 shares of company stock worth $685,273 over the last three months. Insiders own 0.22% of the company’s stock.

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.