Northrop Grumman Corporation (NOC) Shares Sold by State of Tennessee Treasury Department

State of Tennessee Treasury Department decreased its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,147 shares of the aerospace company’s stock after selling 11,459 shares during the quarter. State of Tennessee Treasury Department owned 0.08% of Northrop Grumman Corporation worth $41,762,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Northrop Grumman Corporation by 1.5% during the second quarter. Vanguard Group Inc. now owns 12,956,906 shares of the aerospace company’s stock valued at $3,326,168,000 after acquiring an additional 192,667 shares in the last quarter. BlackRock Inc. raised its position in Northrop Grumman Corporation by 0.9% during the second quarter. BlackRock Inc. now owns 12,884,929 shares of the aerospace company’s stock valued at $3,307,687,000 after acquiring an additional 109,532 shares in the last quarter. Alliancebernstein L.P. raised its position in Northrop Grumman Corporation by 4.8% during the second quarter. Alliancebernstein L.P. now owns 3,300,832 shares of the aerospace company’s stock valued at $847,357,000 after acquiring an additional 151,154 shares in the last quarter. Janus Henderson Group PLC raised its position in Northrop Grumman Corporation by 41,518.7% during the second quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock valued at $749,585,000 after acquiring an additional 2,912,953 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Northrop Grumman Corporation by 5.6% during the first quarter. Geode Capital Management LLC now owns 1,780,879 shares of the aerospace company’s stock valued at $422,996,000 after acquiring an additional 93,990 shares in the last quarter. 81.68% of the stock is owned by hedge funds and other institutional investors.

Shares of Northrop Grumman Corporation (NYSE NOC) traded down $2.29 during trading on Wednesday, hitting $302.02. The stock had a trading volume of 463,771 shares, compared to its average volume of 772,940. Northrop Grumman Corporation has a twelve month low of $220.72 and a twelve month high of $306.61. The firm has a market cap of $52,580.00, a price-to-earnings ratio of 22.94, a PEG ratio of 3.03 and a beta of 0.70. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.96.

Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.76. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The business had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the company posted $3.35 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. research analysts expect that Northrop Grumman Corporation will post 13.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 4th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, December 1st. Northrop Grumman Corporation’s payout ratio is 29.81%.

In related news, VP Sid Ashworth sold 6,311 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $298.00, for a total transaction of $1,880,678.00. Following the transaction, the vice president now owns 63,147 shares of the company’s stock, valued at approximately $18,817,806. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Denise M. Peppard sold 2,328 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $300.86, for a total value of $700,402.08. Following the sale, the vice president now owns 28,553 shares in the company, valued at approximately $8,590,455.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,417 shares of company stock worth $6,365,189. 0.70% of the stock is owned by corporate insiders.

Several brokerages recently weighed in on NOC. Cowen and Company reiterated a “hold” rating and set a $310.00 price target on shares of Northrop Grumman Corporation in a research report on Wednesday. Royal Bank Of Canada set a $374.00 price objective on Northrop Grumman Corporation and gave the company a “buy” rating in a research report on Thursday, November 16th. Zacks Investment Research cut Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Bank of America Corporation set a $350.00 price objective on Northrop Grumman Corporation and gave the company a “buy” rating in a research report on Friday, October 27th. Finally, Stifel Nicolaus boosted their price objective on Northrop Grumman Corporation from $255.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Northrop Grumman Corporation has an average rating of “Buy” and a consensus price target of $294.65.

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About Northrop Grumman Corporation

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

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

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