The Manufacturers Life Insurance Company Sells 1,853 Shares of Northrop Grumman Co. (NYSE:NOC)

The Manufacturers Life Insurance Company trimmed its stake in Northrop Grumman Co. (NYSE:NOC) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,967 shares of the aerospace company’s stock after selling 1,853 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Northrop Grumman worth $43,812,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Legal & General Group Plc boosted its holdings in Northrop Grumman by 16.0% in the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock worth $474,276,000 after acquiring an additional 150,367 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Northrop Grumman by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock worth $427,444,000 after acquiring an additional 3,211 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Northrop Grumman by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 683,427 shares of the aerospace company’s stock worth $297,937,000 after acquiring an additional 125,262 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Northrop Grumman by 1.2% in the third quarter. Van ECK Associates Corp now owns 443,724 shares of the aerospace company’s stock worth $229,139,000 after acquiring an additional 5,203 shares in the last quarter. Finally, National Pension Service boosted its holdings in Northrop Grumman by 12.5% in the third quarter. National Pension Service now owns 357,466 shares of the aerospace company’s stock worth $188,767,000 after acquiring an additional 39,628 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of research analyst reports. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company upped their price target on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. UBS Group upped their price target on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada upped their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $550.56.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,255 shares of company stock valued at $667,727 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Stock Performance

Shares of NOC opened at $489.08 on Friday. The business has a 50-day simple moving average of $517.90 and a two-hundred day simple moving average of $487.15. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The stock has a market cap of $71.26 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 0.98 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter last year, the company earned $6.18 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts expect that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 51.05%.

Northrop Grumman 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.