Northrop Grumman Co. (NYSE:NOC) Position Lowered by World Asset Management Inc

World Asset Management Inc lowered its holdings in Northrop Grumman Co. (NYSE:NOC) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,130 shares of the aerospace company’s stock after selling 170 shares during the period. World Asset Management Inc’s holdings in Northrop Grumman were worth $1,487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Defined Wealth Management LLC increased its stake in shares of Northrop Grumman by 2.9% in the third quarter. Defined Wealth Management LLC now owns 880 shares of the aerospace company’s stock valued at $317,000 after purchasing an additional 25 shares during the period. Modera Wealth Management LLC grew its position in Northrop Grumman by 2.1% in the third quarter. Modera Wealth Management LLC now owns 1,379 shares of the aerospace company’s stock worth $497,000 after buying an additional 28 shares during the last quarter. A. D. Beadell Investment Counsel Inc. grew its position in Northrop Grumman by 0.8% in the third quarter. A. D. Beadell Investment Counsel Inc. now owns 3,894 shares of the aerospace company’s stock worth $1,402,000 after buying an additional 30 shares during the last quarter. Terra Nova Asset Management LLC grew its position in Northrop Grumman by 5.2% in the third quarter. Terra Nova Asset Management LLC now owns 610 shares of the aerospace company’s stock worth $220,000 after buying an additional 30 shares during the last quarter. Finally, Parisi Gray Wealth Management grew its position in Northrop Grumman by 2.8% in the second quarter. Parisi Gray Wealth Management now owns 1,126 shares of the aerospace company’s stock worth $409,000 after buying an additional 31 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on NOC shares. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $392.00 target price for the company in a research note on Wednesday, October 6th. Wolfe Research downgraded shares of Northrop Grumman from an “outperform” rating to a “peer perform” rating in a report on Tuesday. Jefferies Financial Group downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating and set a $410.00 target price on the stock. in a report on Wednesday, January 5th. Susquehanna dropped their price objective on shares of Northrop Grumman from $424.00 to $416.00 and set a “positive” rating on the stock in a report on Friday, October 29th. Finally, Susquehanna Bancshares dropped their price objective on shares of Northrop Grumman from $424.00 to $416.00 and set a “positive” rating on the stock in a report on Friday, October 29th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $404.75.

NYSE:NOC traded up $0.38 during trading hours on Friday, hitting $397.99. The stock had a trading volume of 1,354 shares, compared to its average volume of 794,600. The business’s 50 day moving average is $372.37 and its 200-day moving average is $368.83. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.37 and a current ratio of 1.47. Northrop Grumman Co. has a one year low of $282.88 and a one year high of $408.03. The company has a market cap of $63.10 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.79 and a beta of 0.84.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, October 28th. The aerospace company reported $6.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.93 by $0.70. The business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Northrop Grumman had a net margin of 12.42% and a return on equity of 39.17%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.89 earnings per share. On average, sell-side analysts anticipate that Northrop Grumman Co. will post 25.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Monday, November 29th were given a $1.57 dividend. This represents a $6.28 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, November 26th. Northrop Grumman’s payout ratio is presently 22.07%.

In other news, Director Karl J. Krapek sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 11th. The shares were sold at an average price of $357.25, for a total value of $1,000,300.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Mark A. Caylor sold 427 shares of the firm’s stock in a transaction that occurred on Wednesday, December 8th. The shares were sold at an average price of $363.54, for a total transaction of $155,231.58. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

About Northrop Grumman

Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.

Featured Story: What is the Gross Domestic Product (GDP)?

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

Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.