Northrop Grumman Co. (NOC) Shares Sold by Cambridge Investment Research Advisors Inc.

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Cambridge Investment Research Advisors Inc. cut its position in Northrop Grumman Co. (NYSE:NOC) by 1.0% during the first quarter, Holdings Channel reports. The fund owned 15,966 shares of the aerospace company’s stock after selling 163 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Northrop Grumman were worth $4,305,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NOC. Millennium Management LLC boosted its stake in shares of Northrop Grumman by 198.8% in the fourth quarter. Millennium Management LLC now owns 568,441 shares of the aerospace company’s stock worth $139,211,000 after acquiring an additional 378,176 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Northrop Grumman by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,072,281 shares of the aerospace company’s stock worth $1,242,203,000 after acquiring an additional 355,364 shares during the last quarter. California Public Employees Retirement System boosted its stake in Northrop Grumman by 44.3% during the fourth quarter. California Public Employees Retirement System now owns 820,741 shares of the aerospace company’s stock worth $200,999,000 after buying an additional 251,945 shares during the last quarter. Vanguard Group Inc boosted its stake in Northrop Grumman by 1.3% during the third quarter. Vanguard Group Inc now owns 13,591,668 shares of the aerospace company’s stock worth $4,313,588,000 after buying an additional 176,809 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Northrop Grumman by 97.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 286,106 shares of the aerospace company’s stock worth $70,067,000 after buying an additional 141,496 shares during the last quarter. 81.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Northrop Grumman stock opened at $312.07 on Monday. Northrop Grumman Co. has a 52 week low of $223.63 and a 52 week high of $340.14. The firm has a market capitalization of $52.99 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.27 and a beta of 0.89. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.59.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $5.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.59 by $0.47. Northrop Grumman had a return on equity of 41.42% and a net margin of 9.67%. The business had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the prior year, the company posted $4.21 EPS. The company’s quarterly revenue was up 21.6% on a year-over-year basis. Equities analysts forecast that Northrop Grumman Co. will post 19.39 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Monday, June 3rd will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.20. Northrop Grumman’s dividend payout ratio is 22.50%.

A number of equities analysts have weighed in on the company. UBS Group boosted their price objective on Northrop Grumman from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. ValuEngine raised Northrop Grumman from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Barclays boosted their price objective on Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 30th. Finally, Susquehanna Bancshares raised Northrop Grumman from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $309.00 to $315.00 in a research note on Friday, April 5th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $333.06.

In other news, VP Mark A. Caylor sold 2,965 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $290.24, for a total value of $860,561.60. Following the transaction, the vice president now owns 28,245 shares of the company’s stock, valued at approximately $8,197,828.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kenneth L. Bedingfield sold 1,750 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $286.36, for a total value of $501,130.00. Following the completion of the transaction, the chief financial officer now directly owns 40,705 shares in the company, valued at approximately $11,656,283.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,566 shares of company stock worth $19,972,324. Corporate insiders own 0.45% of the company’s stock.

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Northrop Grumman Profile

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

Further Reading: Correction

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC).

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

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