Caxton Associates LP Cuts Position in Northrop Grumman Co. (NOC)

Caxton Associates LP trimmed its position in Northrop Grumman Co. (NYSE:NOC) by 89.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,100 shares of the aerospace company’s stock after selling 17,900 shares during the period. Caxton Associates LP’s holdings in Northrop Grumman were worth $604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at $30,405,000. Gerber Kawasaki Wealth & Investment Management increased its position in shares of Northrop Grumman by 4.4% in the 2nd quarter. Gerber Kawasaki Wealth & Investment Management now owns 27,847 shares of the aerospace company’s stock valued at $7,289,000 after acquiring an additional 1,180 shares during the period. Toronto Dominion Bank increased its position in shares of Northrop Grumman by 25.2% in the 2nd quarter. Toronto Dominion Bank now owns 59,532 shares of the aerospace company’s stock valued at $15,280,000 after acquiring an additional 11,991 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Northrop Grumman in the 2nd quarter valued at $241,000. Finally, Commonwealth Bank of Australia increased its position in shares of Northrop Grumman by 2.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 24,314 shares of the aerospace company’s stock valued at $6,240,000 after acquiring an additional 466 shares during the period. 81.33% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Co. (NYSE NOC) traded down $1.11 during mid-day trading on Tuesday, hitting $304.56. 674,600 shares of the stock traded hands, compared to its average volume of 780,276. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.05 and a current ratio of 1.21. Northrop Grumman Co. has a twelve month low of $220.72 and a twelve month high of $309.76. The stock has a market cap of $53,210.57, a price-to-earnings ratio of 23.30, a P/E/G ratio of 3.08 and a beta of 0.69.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders 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 dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, December 1st. Northrop Grumman’s payout ratio is currently 29.81%.

In other news, VP Denise M. Peppard sold 5,037 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $295.67, for a total transaction of $1,489,289.79. Following the sale, the vice president now directly owns 58,186 shares of the company’s stock, valued at approximately $17,203,854.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Gloria A. Flach sold 7,741 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $296.45, for a total transaction of $2,294,819.45. Following the sale, the chief operating officer now directly owns 77,200 shares in the company, valued at $22,885,940. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,417 shares of company stock worth $6,365,189. Corporate insiders own 0.70% of the company’s stock.

Several equities analysts recently issued reports on NOC shares. Cowen reaffirmed a “hold” rating and set a $300.00 price target (up from $275.00) on shares of Northrop Grumman in a research report on Thursday, October 26th. Royal Bank of Canada set a $374.00 price target on Northrop Grumman and gave the stock a “buy” rating in a research report on Thursday, November 16th. Bank of America set a $350.00 price target on Northrop Grumman and gave the stock a “buy” rating in a research report on Friday, October 27th. Goldman Sachs Group set a $320.00 price target on Northrop Grumman and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Northrop Grumman currently has a consensus rating of “Buy” and a consensus price target of $298.67.

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Northrop Grumman Company Profile

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.

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

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