American International Group Inc. Sells 2,973 Shares of Northrop Grumman Corporation (NOC)
American International Group Inc. decreased its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,923 shares of the aerospace company’s stock after selling 2,973 shares during the period. American International Group Inc.’s holdings in Northrop Grumman Corporation were worth $14,939,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Hanseatic Management Services Inc. increased its position in Northrop Grumman Corporation by 12.8% during the second quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after buying an additional 48 shares in the last quarter. First Personal Financial Services increased its position in Northrop Grumman Corporation by 39.0% during the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after buying an additional 121 shares in the last quarter. Pittenger & Anderson Inc. increased its position in Northrop Grumman Corporation by 28.6% during the second quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after buying an additional 100 shares in the last quarter. People s United Financial Inc. increased its position in Northrop Grumman Corporation by 9.2% during the second quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after buying an additional 40 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC purchased a new position in Northrop Grumman Corporation during the third quarter worth $154,000. 81.68% of the stock is owned by institutional investors.
In related news, VP Denise M. Peppard sold 2,328 shares of Northrop Grumman Corporation stock in a transaction on Monday, November 6th. The stock was sold at an average price of $300.86, for a total value of $700,402.08. Following the transaction, the vice president now owns 28,553 shares in the company, valued at $8,590,455.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Denise M. Peppard sold 5,037 shares of Northrop Grumman Corporation stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $295.67, for a total value of $1,489,289.79. Following the completion of the transaction, the vice president now owns 58,186 shares in the company, valued at approximately $17,203,854.62. The disclosure for this sale can be found here. Insiders sold 21,417 shares of company stock worth $6,365,189 in the last quarter. 0.70% of the stock is owned by insiders.
Several equities analysts have weighed in on NOC shares. BidaskClub downgraded Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Argus raised their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Morgan Stanley initiated coverage on Northrop Grumman Corporation in a report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective on the stock. Goldman Sachs Group Inc restated a “conviction-buy” rating and set a $309.00 price objective on shares of Northrop Grumman Corporation in a report on Wednesday, August 23rd. Finally, Cowen Inc restated a “hold” rating and set a $275.00 price objective on shares of Northrop Grumman Corporation in a report on Thursday, August 24th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $294.65.
Northrop Grumman Corporation (NOC) traded up $0.70 during mid-day trading on Friday, hitting $302.72. The stock had a trading volume of 273,018 shares, compared to its average volume of 523,245. Northrop Grumman Corporation has a 1-year low of $220.72 and a 1-year high of $306.61. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $52,575.18, a PE ratio of 23.02, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70.
Northrop Grumman Corporation (NYSE:NOC) last issued its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the firm earned $3.35 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. sell-side analysts forecast that Northrop Grumman Corporation 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. Investors of record on Monday, December 4th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, December 1st. Northrop Grumman Corporation’s payout ratio is currently 29.81%.
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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.
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