Gulf International Bank UK Ltd Sells 508 Shares of Northrop Grumman Co. (NYSE:NOC)

Gulf International Bank UK Ltd cut its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,884 shares of the aerospace company’s stock after selling 508 shares during the period. Gulf International Bank UK Ltd’s holdings in Northrop Grumman were worth $5,747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOC. FSM Wealth Advisors LLC increased its holdings in Northrop Grumman by 4.6% in the third quarter. FSM Wealth Advisors LLC now owns 819 shares of the aerospace company’s stock valued at $433,000 after purchasing an additional 36 shares during the period. Moloney Securities Asset Management LLC increased its stake in shares of Northrop Grumman by 1.3% in the third quarter. Moloney Securities Asset Management LLC now owns 2,267 shares of the aerospace company’s stock valued at $1,197,000 after buying an additional 30 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Northrop Grumman during the third quarter worth about $40,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Northrop Grumman by 119.4% in the third quarter. Hazlett Burt & Watson Inc. now owns 408 shares of the aerospace company’s stock worth $218,000 after acquiring an additional 222 shares during the period. Finally, PDS Planning Inc boosted its holdings in Northrop Grumman by 5.4% in the third quarter. PDS Planning Inc now owns 664 shares of the aerospace company’s stock valued at $351,000 after acquiring an additional 34 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on NOC shares. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Morgan Stanley boosted their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Royal Bank of Canada increased their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Barclays raised their target price on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Northrop Grumman presently has a consensus rating of “Hold” and a consensus target price of $550.56.

Northrop Grumman Stock Up 1.1 %

Shares of NYSE:NOC opened at $512.92 on Wednesday. The stock has a market cap of $74.73 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.02 and a beta of 0.35. The business’s 50 day moving average is $523.44 and its 200 day moving average is $484.03. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. 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 (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same quarter in the prior year, the business posted $6.18 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Northrop Grumman Co. will post 25.95 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.61%. Northrop Grumman’s payout ratio is presently 51.05%.

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.