Illinois Municipal Retirement Fund Sells 1,940 Shares of Northrop Grumman Co. (NYSE:NOC)

Illinois Municipal Retirement Fund lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 36.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,336 shares of the aerospace company’s stock after selling 1,940 shares during the period. Illinois Municipal Retirement Fund’s holdings in Northrop Grumman were worth $1,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in NOC. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter worth approximately $29,000. Providence Capital Advisors LLC increased its position in shares of Northrop Grumman by 400.0% during the third quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 80 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Northrop Grumman during the third quarter worth $70,000. Rational Advisors LLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter valued at $72,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Northrop Grumman by 16.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 165 shares of the aerospace company’s stock worth $73,000 after purchasing an additional 23 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Price Performance

Shares of NOC opened at $480.53 on Friday. The business’s 50-day moving average is $462.59 and its two-hundred day moving average is $465.77. The company has a market capitalization of $71.21 billion, a P/E ratio of 33.60, a P/E/G ratio of 1.96 and a beta of 0.35. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.05 and a current ratio of 1.13.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, topping the consensus estimate of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The firm had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period last year, the company earned $5.50 earnings per share. Northrop Grumman’s revenue for the quarter was up 8.9% compared to the same quarter last year. Research analysts predict that Northrop Grumman Co. will post 24.67 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were paid a $1.87 dividend. This represents a $7.48 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s dividend payout ratio is currently 52.31%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NOC. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price on the stock in a research report on Monday, April 22nd. Royal Bank of Canada increased their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research report on Friday. Robert W. Baird lifted their target price on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday. Susquehanna upped their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a research note on Friday. Finally, TheStreet downgraded shares of Northrop Grumman from a “b+” rating to a “c+” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Northrop Grumman currently has a consensus rating of “Hold” and an average price target of $503.00.

Insider Buying and Selling

In other Northrop Grumman news, VP Kathryn G. Simpson sold 711 shares of Northrop Grumman stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total value of $322,239.42. Following the completion of the transaction, the vice president now owns 2,024 shares of the company’s stock, valued at $917,317.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Northrop Grumman news, VP Kathryn G. Simpson sold 711 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total transaction of $322,239.42. Following the transaction, the vice president now owns 2,024 shares in the company, valued at $917,317.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the sale, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,149 shares of company stock valued at $1,421,147. Corporate insiders own 0.22% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. 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.