Northrop Grumman Co. (NYSE:NOC) Shares Sold by Allstate Corp

Allstate Corp reduced its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 511 shares of the aerospace company’s stock after selling 30 shares during the period. Allstate Corp’s holdings in Northrop Grumman were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NOC. International Assets Investment Management LLC acquired a new stake in Northrop Grumman during the fourth quarter worth about $283,114,000. Invesco Ltd. grew its holdings in Northrop Grumman by 74.7% during the third quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock worth $517,028,000 after acquiring an additional 502,060 shares during the period. JPMorgan Chase & Co. boosted its position in Northrop Grumman by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 4,488,412 shares of the aerospace company’s stock worth $1,975,754,000 after purchasing an additional 410,736 shares in the last quarter. London Co. of Virginia purchased a new position in Northrop Grumman during the third quarter worth approximately $165,786,000. Finally, Cerity Partners LLC boosted its position in Northrop Grumman by 2,801.7% during the fourth quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock worth $154,720,000 after purchasing an additional 319,109 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Up 0.2 %

NYSE:NOC traded up $1.05 during midday trading on Friday, reaching $466.20. The company had a trading volume of 88,285 shares, compared to its average volume of 964,946. The firm has a market capitalization of $68.99 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 2.21 and a beta of 0.34. The stock’s fifty day simple moving average is $468.58 and its 200-day simple moving average is $465.14. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $496.89. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 1.04.

Northrop Grumman (NYSE:NOC) last announced its quarterly 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. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The firm had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period last year, the business earned $5.50 EPS. Northrop Grumman’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be given a dividend of $2.06 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s payout ratio is 52.31%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Susquehanna increased their price target on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. Royal Bank of Canada increased their price target on Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Robert W. Baird increased their price target on Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price on the stock in a research report on Monday, April 22nd. Finally, TheStreet downgraded Northrop Grumman from a “b+” rating to a “c+” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $514.33.

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.