Resona Asset Management Co. Ltd. Sells 2,050 Shares of Northrop Grumman Corporation $NOC

Resona Asset Management Co. Ltd. reduced its position in Northrop Grumman Corporation (NYSE:NOC) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,507 shares of the aerospace company’s stock after selling 2,050 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Northrop Grumman were worth $31,279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Parvin Asset Management LLC acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in Northrop Grumman during the second quarter valued at approximately $31,000. NewSquare Capital LLC lifted its stake in Northrop Grumman by 75.0% during the second quarter. NewSquare Capital LLC now owns 63 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 27 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter valued at $42,000. Finally, AlphaQuest LLC increased its stake in shares of Northrop Grumman by 29.2% in the 2nd quarter. AlphaQuest LLC now owns 93 shares of the aerospace company’s stock valued at $46,000 after purchasing an additional 21 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

NYSE:NOC opened at $672.67 on Friday. The stock’s 50-day moving average is $587.92 and its 200-day moving average is $583.04. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $677.30. The company has a current ratio of 1.11, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a market cap of $96.00 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 5.46 and a beta of 0.05.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st were given a $2.31 dividend. This represents a $9.24 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, December 1st. Northrop Grumman’s dividend payout ratio is 33.24%.

Wall Street Analyst Weigh In

NOC has been the subject of several recent analyst reports. Sanford C. Bernstein restated a “market perform” rating and set a $727.00 price objective on shares of Northrop Grumman in a research report on Monday, January 12th. Morgan Stanley reissued an “overweight” rating and set a $714.00 target price on shares of Northrop Grumman in a research note on Tuesday, December 16th. Weiss Ratings restated a “buy (b)” rating on shares of Northrop Grumman in a research note on Wednesday, December 24th. Susquehanna reaffirmed a “positive” rating and set a $752.00 price target on shares of Northrop Grumman in a report on Thursday, January 15th. Finally, Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $662.00 price objective for the company in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and an average target price of $656.82.

Insider Buying and Selling at Northrop Grumman

In related news, Director Mark A. Welsh III sold 97 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $564.08, for a total transaction of $54,715.76. Following the completion of the transaction, the director directly owned 4,281 shares of the company’s stock, valued at $2,414,826.48. This trade represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 7,000 shares of Northrop Grumman stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $600.00, for a total value of $4,200,000.00. Following the transaction, the chief executive officer directly owned 194,602 shares in the company, valued at $116,761,200. The trade was a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,097 shares of company stock valued at $6,099,716 in the last ninety days. Insiders own 0.23% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation (NYSE: NOC) is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company’s portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.

The company’s work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.