Rhumbline Advisers reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 3.2% during the third quarter, Holdings Channel reports. The fund owned 289,779 shares of the aerospace company’s stock after selling 9,610 shares during the period. Rhumbline Advisers’ holdings in Northrop Grumman were worth $91,967,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Northrop Grumman in the second quarter worth about $114,000. Meeder Asset Management Inc. purchased a new stake in shares of Northrop Grumman during the second quarter worth about $115,000. Fort L.P. purchased a new position in Northrop Grumman during the 2nd quarter valued at approximately $117,000. WESPAC Advisors SoCal LLC purchased a new position in Northrop Grumman during the 3rd quarter valued at approximately $126,000. Finally, Kaizen Advisory LLC lifted its stake in shares of Northrop Grumman by 156.2% in the 2nd quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock valued at $133,000 after purchasing an additional 264 shares during the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:NOC opened at $270.72 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.17. The stock has a market capitalization of $48.19 billion, a P/E ratio of 20.39, a PEG ratio of 1.04 and a beta of 0.83. Northrop Grumman Co. has a 52 week low of $251.66 and a 52 week high of $360.88.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.35 by $2.19. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.99 billion. During the same period last year, the firm earned $3.67 EPS. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, sell-side analysts anticipate that Northrop Grumman Co. will post 19.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Monday, December 3rd will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.77%. Northrop Grumman’s payout ratio is currently 36.14%.

In related news, VP Lesley A. Kalan sold 1,065 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $300.02, for a total transaction of $319,521.30. Following the completion of the sale, the vice president now directly owns 13,656 shares of the company’s stock, valued at approximately $4,097,073.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Shawn N. Purvis sold 807 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $280.00, for a total transaction of $225,960.00. Following the completion of the transaction, the vice president now owns 3,519 shares in the company, valued at approximately $985,320. The disclosure for this sale can be found here. Insiders have sold a total of 37,715 shares of company stock valued at $11,192,664 over the last three months. Corporate insiders own 0.62% of the company’s stock.

A number of brokerages recently issued reports on NOC. Goldman Sachs Group decreased their price target on Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a research note on Thursday, July 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $300.00 price target on shares of Northrop Grumman in a report on Thursday, July 26th. JPMorgan Chase & Co. dropped their target price on Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Credit Suisse Group dropped their price target on Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating on the stock in a research note on Friday, July 27th. Finally, Buckingham Research upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and boosted their price target for the company from $246.00 to $371.00 in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $353.65.

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Northrop Grumman Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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

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