Russell Investments Group Ltd. lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 39.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,634 shares of the aerospace company’s stock after selling 121,732 shares during the period. Russell Investments Group Ltd.’s holdings in Northrop Grumman were worth $56,812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOC. Meeder Asset Management Inc. bought a new position in shares of Northrop Grumman during the 2nd quarter valued at about $115,000. Kaizen Advisory LLC boosted its holdings in shares of Northrop Grumman by 156.2% during the 2nd quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock valued at $133,000 after purchasing an additional 264 shares during the last quarter. Centaurus Financial Inc. bought a new position in shares of Northrop Grumman during the 1st quarter valued at about $147,000. Optimum Investment Advisors bought a new position in shares of Northrop Grumman during the 1st quarter valued at about $154,000. Finally, Cerebellum GP LLC bought a new position in shares of Northrop Grumman during the 2nd quarter valued at about $174,000. 82.16% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:NOC opened at $294.39 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 1.75. Northrop Grumman Co. has a 12 month low of $264.35 and a 12 month high of $360.88. The stock has a market capitalization of $50.73 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 1.54 and a beta of 0.68.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $3.93 EPS for the quarter, beating the Zacks’ consensus estimate of $3.84 by $0.09. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The firm had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the firm earned $3.16 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. sell-side analysts forecast that Northrop Grumman Co. will post 16.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Monday, August 27th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Friday, August 24th. Northrop Grumman’s dividend payout ratio (DPR) is currently 36.14%.

In related news, VP David T. Perry sold 4,425 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $300.27, for a total value of $1,328,694.75. Following the sale, the vice president now directly owns 28,112 shares of the company’s stock, valued at approximately $8,441,190.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Wesley G. Bush sold 20,000 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $297.91, for a total transaction of $5,958,200.00. Following the completion of the sale, the chairman now directly owns 18,701 shares in the company, valued at $5,571,214.91. The disclosure for this sale can be found here. Insiders sold a total of 25,867 shares of company stock worth $7,719,495 over the last three months. 0.62% of the stock is currently owned by corporate insiders.

Several research analysts have commented on NOC shares. Sanford C. Bernstein dropped their price objective on shares of Northrop Grumman from $369.00 to $352.00 and set a “market perform” rating for the company in a report on Thursday, April 26th. Credit Suisse Group increased their price objective on shares of Northrop Grumman from $331.00 to $342.00 and gave the company a “neutral” rating in a report on Thursday, April 26th. ValuEngine downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Royal Bank of Canada increased their price target on shares of Northrop Grumman to $431.00 and gave the company an “outperform” rating in a report on Friday, May 18th. Finally, Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 price target for the company in a report on Monday, June 11th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $362.16.

About Northrop Grumman

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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

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