Texas Permanent School Fund Decreases Holdings in Northrop Grumman Co. (NYSE:NOC)

Texas Permanent School Fund trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 5.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 25,891 shares of the aerospace company’s stock after selling 1,445 shares during the quarter. Texas Permanent School Fund’s holdings in Northrop Grumman were worth $8,379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NOC. Childress Capital Advisors LLC bought a new position in Northrop Grumman during the 4th quarter valued at about $25,000. Graves Light Private Wealth Management Inc. bought a new position in Northrop Grumman during the 4th quarter valued at about $28,000. Bellwether Advisors LLC bought a new position in Northrop Grumman during the 4th quarter valued at about $29,000. Carroll Financial Associates Inc. grew its holdings in Northrop Grumman by 56.1% during the 4th quarter. Carroll Financial Associates Inc. now owns 103 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 37 shares during the last quarter. Finally, Hoover Financial Advisors Inc. bought a new position in Northrop Grumman in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.

A number of brokerages have commented on NOC. Morgan Stanley upped their target price on shares of Northrop Grumman from $447.00 to $478.00 and gave the stock an “overweight” rating in a research note on Thursday, May 6th. Susquehanna upped their target price on shares of Northrop Grumman from $350.00 to $409.00 and gave the stock a “positive” rating in a research note on Thursday, May 6th. Susquehanna Bancshares upped their target price on shares of Northrop Grumman from $350.00 to $409.00 and gave the stock a “positive” rating in a research note on Friday, April 30th. Credit Suisse Group dropped their target price on shares of Northrop Grumman from $377.00 to $353.00 and set an “outperform” rating on the stock in a research note on Friday, January 29th. Finally, Zacks Investment Research raised shares of Northrop Grumman from a “sell” rating to a “hold” rating and set a $375.00 price target for the company in a research report on Monday, May 3rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $390.08.

In other Northrop Grumman news, VP Shawn N. Purvis sold 4,389 shares of the firm’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $300.25, for a total value of $1,317,797.25. Following the completion of the transaction, the vice president now owns 3,608 shares of the company’s stock, valued at $1,083,302. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Mark A. Caylor sold 2,961 shares of the firm’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $352.04, for a total transaction of $1,042,390.44. Following the completion of the transaction, the vice president now directly owns 10,019 shares of the company’s stock, valued at approximately $3,527,088.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,195 shares of company stock valued at $6,774,381. Corporate insiders own 0.27% of the company’s stock.

NYSE:NOC opened at $368.30 on Wednesday. Northrop Grumman Co. has a 52 week low of $282.88 and a 52 week high of $378.61. The firm has a 50 day moving average of $340.64 and a 200 day moving average of $310.84. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $59.28 billion, a price-to-earnings ratio of 25.19 and a beta of 0.75.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, April 29th. The aerospace company reported $6.57 EPS for the quarter, beating the Zacks’ consensus estimate of $5.48 by $1.09. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Northrop Grumman had a net margin of 6.94% and a return on equity of 40.02%. Northrop Grumman’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.48 earnings per share. As a group, analysts expect that Northrop Grumman Co. will post 22.72 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Monday, March 1st were issued a $1.45 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.57%. Northrop Grumman’s dividend payout ratio is currently 27.35%.

Northrop Grumman Profile

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems for strategic and tactical intelligence, surveillance, and reconnaissance (ISR) missions; and long-range strike aircraft systems, tactical fighter aircrafts, and airborne battle management systems.

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

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