Northrop Grumman Co. (NYSE:NOC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in Northrop Grumman Co. (NYSE:NOCFree Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,775 shares of the aerospace company’s stock after selling 1,997 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Northrop Grumman worth $45,304,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NOC. Wesbanco Bank Inc. boosted its holdings in Northrop Grumman by 1.2% in the third quarter. Wesbanco Bank Inc. now owns 1,782 shares of the aerospace company’s stock valued at $784,000 after purchasing an additional 21 shares during the last quarter. Ausdal Financial Partners Inc. boosted its holdings in Northrop Grumman by 4.4% in the fourth quarter. Ausdal Financial Partners Inc. now owns 524 shares of the aerospace company’s stock valued at $245,000 after purchasing an additional 22 shares during the last quarter. Secure Asset Management LLC boosted its holdings in Northrop Grumman by 2.7% in the fourth quarter. Secure Asset Management LLC now owns 844 shares of the aerospace company’s stock valued at $395,000 after purchasing an additional 22 shares during the last quarter. Tilia Fiduciary Partners Inc. boosted its holdings in Northrop Grumman by 3.3% in the fourth quarter. Tilia Fiduciary Partners Inc. now owns 727 shares of the aerospace company’s stock valued at $340,000 after purchasing an additional 23 shares during the last quarter. Finally, Gradient Investments LLC boosted its holdings in Northrop Grumman by 5.1% in the fourth quarter. Gradient Investments LLC now owns 493 shares of the aerospace company’s stock valued at $231,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Susquehanna increased their target price on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Wells Fargo & Company increased their target price on Northrop Grumman from $483.00 to $518.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada raised their price target on Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Finally, Robert W. Baird raised their target price on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. 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 company presently has an average rating of “Hold” and a consensus price target of $514.33.

Read Our Latest Research Report on NOC

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $442.34 on Thursday. The stock has a market cap of $65.46 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 2.09 and a beta of 0.35. The business has a fifty day simple moving average of $465.72 and a 200-day simple moving average of $464.37. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $496.89.

Northrop Grumman (NYSE:NOCGet Free Report) last issued its earnings results on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, topping the consensus estimate of $5.83 by $0.49. The business had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. Northrop Grumman’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $5.50 earnings per share. On average, sell-side analysts anticipate that Northrop Grumman Co. will post 24.7 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a dividend of $2.06 per share. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date of this dividend is Friday, May 24th. This represents a $8.24 dividend on an annualized basis and a yield of 1.86%. Northrop Grumman’s dividend payout ratio (DPR) is presently 57.62%.

Northrop Grumman Company Profile

(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.

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

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