Northrop Grumman Co. (NYSE:NOC) Position Cut by Bessemer Group Inc.

Bessemer Group Inc. lowered its position in shares of Northrop Grumman Co. (NYSE:NOC) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 681,049 shares of the aerospace company’s stock after selling 4,334 shares during the period. Bessemer Group Inc.’s holdings in Northrop Grumman were worth $310,424,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NOC. Principal Financial Group Inc. lifted its position in Northrop Grumman by 0.5% in the first quarter. Principal Financial Group Inc. now owns 177,660 shares of the aerospace company’s stock worth $82,029,000 after purchasing an additional 819 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in Northrop Grumman by 1.5% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,754 shares of the aerospace company’s stock valued at $1,255,000 after buying an additional 42 shares in the last quarter. Independent Advisor Alliance bought a new position in Northrop Grumman during the first quarter valued at about $3,023,000. Brighton Jones LLC grew its holdings in Northrop Grumman by 22.2% during the second quarter. Brighton Jones LLC now owns 1,228 shares of the aerospace company’s stock worth $559,000 after acquiring an additional 223 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its position in Northrop Grumman by 19.7% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 16,380 shares of the aerospace company’s stock worth $7,562,000 after acquiring an additional 2,699 shares in the last quarter. 82.40% of the stock is currently owned by institutional investors.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Mark A. Caylor sold 1,670 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $472.62, for a total value of $789,275.40. Following the transaction, the vice president now directly owns 12,900 shares of the company’s stock, valued at approximately $6,096,798. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Roshan S. Roeder sold 1,007 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $465.00, for a total transaction of $468,255.00. Following the transaction, the vice president now owns 913 shares in the company, valued at approximately $424,545. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Mark A. Caylor sold 1,670 shares of Northrop Grumman stock in a transaction on Monday, November 6th. The shares were sold at an average price of $472.62, for a total transaction of $789,275.40. Following the completion of the sale, the vice president now directly owns 12,900 shares of the company’s stock, valued at approximately $6,096,798. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Northrop Grumman Stock Up 0.4 %

NYSE NOC traded up $1.87 during trading on Monday, reaching $466.04. 91,803 shares of the company’s stock were exchanged, compared to its average volume of 859,569. The company has a current ratio of 1.28, a quick ratio of 1.14 and a debt-to-equity ratio of 0.87. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $549.87. The company’s fifty day simple moving average is $456.97 and its 200-day simple moving average is $448.37. The firm has a market capitalization of $70.27 billion, a PE ratio of 15.23, a P/E/G ratio of 8.43 and a beta of 0.42.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, October 26th. The aerospace company reported $6.18 EPS for the quarter, beating analysts’ consensus estimates of $5.81 by $0.37. The firm had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.58 billion. Northrop Grumman had a net margin of 12.07% and a return on equity of 24.24%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.89 earnings per share. Sell-side analysts predict that Northrop Grumman Co. will post 22.73 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 27th will be given a dividend of $1.87 per share. The ex-dividend date is Friday, November 24th. This represents a $7.48 dividend on an annualized basis and a yield of 1.61%. Northrop Grumman’s payout ratio is 24.54%.

Analyst Upgrades and Downgrades

NOC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Northrop Grumman in a research note on Wednesday, September 27th. They issued a “buy” rating and a $502.00 price objective on the stock. Bank of America dropped their price target on Northrop Grumman from $655.00 to $615.00 and set a “buy” rating on the stock in a report on Friday, July 28th. UBS Group assumed coverage on Northrop Grumman in a research note on Tuesday, October 10th. They set a “buy” rating and a $555.00 price objective for the company. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. upped their target price on Northrop Grumman from $430.00 to $435.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $500.20.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems in the United States and internationally. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.