Northrop Grumman Co. (NYSE:NOC) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC lowered its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 740 shares of the aerospace company’s stock after selling 79 shares during the period. Sentry Investment Management LLC’s holdings in Northrop Grumman were worth $346,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. London Co. of Virginia purchased a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $165,786,000. Invesco Ltd. raised its holdings in shares of Northrop Grumman by 74.7% in the 3rd quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock valued at $517,028,000 after buying an additional 502,060 shares during the period. Raymond James Trust N.A. lifted its stake in Northrop Grumman by 19.7% during the 4th quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock worth $7,731,000 after acquiring an additional 2,723 shares in the last quarter. Phraction Management LLC purchased a new position in Northrop Grumman during the 3rd quarter valued at about $677,000. Finally, Cerity Partners LLC increased its holdings in Northrop Grumman by 2,801.7% during the 4th quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock worth $154,720,000 after purchasing an additional 319,109 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $451.29 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $459.54 and its 200 day simple moving average is $464.22. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $496.89. The firm has a market capitalization of $66.88 billion, a PE ratio of 33.48, a P/E/G ratio of 1.83 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.47. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.43 billion. During the same quarter in the prior year, the firm earned $7.50 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that Northrop Grumman Co. will post 24.67 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were issued a $1.87 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.66%. Northrop Grumman’s dividend payout ratio (DPR) is 55.49%.

Insider Activity

In related news, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at approximately $1,421,784.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the transaction, the chief accounting officer now directly owns 3,127 shares in the company, valued at approximately $1,421,784.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kathryn G. Simpson sold 711 shares of Northrop Grumman stock in a transaction dated 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 sale, the vice president now owns 2,024 shares of the company’s stock, valued at approximately $917,317.28. The disclosure for this sale can be found here. Insiders have sold 3,149 shares of company stock worth $1,421,147 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NOC shares. StockNews.com downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Susquehanna decreased their price objective on Northrop Grumman from $560.00 to $540.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Robert W. Baird dropped their target price on Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $450.00 price target (down from $515.00) on shares of Northrop Grumman in a report on Friday, January 26th. Finally, TheStreet downgraded shares of Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $494.33.

Northrop Grumman Company Profile

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.