Gulf International Bank UK Ltd Sells 1,533 Shares of Northrop Grumman Co. (NYSE:NOC)

Gulf International Bank UK Ltd decreased its holdings in Northrop Grumman Co. (NYSE:NOC) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,392 shares of the aerospace company’s stock after selling 1,533 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Northrop Grumman were worth $4,966,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NOC. Capital International Investors grew its stake in shares of Northrop Grumman by 5.6% during the first quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock worth $5,623,128,000 after purchasing an additional 621,636 shares during the period. Cerity Partners LLC grew its position in Northrop Grumman by 2,801.7% during the fourth quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock worth $154,720,000 after buying an additional 319,109 shares in the last quarter. Focused Investors Fund L P bought a new stake in Northrop Grumman during the first quarter worth $108,369,000. JPMorgan Chase & Co. lifted its stake in shares of Northrop Grumman by 4.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock valued at $2,218,132,000 after acquiring an additional 211,459 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Northrop Grumman in the 4th quarter valued at $97,866,000. Institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the transaction, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE:NOC traded up $3.22 during midday trading on Wednesday, hitting $489.75. The company’s stock had a trading volume of 736,591 shares, compared to its average volume of 974,076. The business’s 50 day simple moving average is $445.22 and its 200 day simple moving average is $456.10. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market cap of $72.48 billion, a P/E ratio of 34.25, a price-to-earnings-growth ratio of 2.26 and a beta of 0.32. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $506.83.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.93 by $0.43. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $10.02 billion. During the same period last year, the business earned $5.34 earnings per share. Northrop Grumman’s revenue was up 6.7% compared to the same quarter last year. On average, analysts forecast that Northrop Grumman Co. will post 25.18 EPS for the current year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Friday, May 24th. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.68%. Northrop Grumman’s dividend payout ratio (DPR) is currently 57.62%.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent analyst reports. UBS Group increased their price target on Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Susquehanna lifted their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Jefferies Financial Group reduced their price objective on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a research note on Tuesday, June 18th. Sanford C. Bernstein lowered shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target for the company. in a research report on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and boosted their price target for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $516.29.

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.