Kentucky Retirement Systems Sells 906 Shares of Northrop Grumman Co. (NYSE:NOC)

Kentucky Retirement Systems reduced its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,577 shares of the aerospace company’s stock after selling 906 shares during the period. Kentucky Retirement Systems’ holdings in Northrop Grumman were worth $5,057,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Nicolet Advisory Services LLC lifted its stake in Northrop Grumman by 8.3% in the first quarter. Nicolet Advisory Services LLC now owns 589 shares of the aerospace company’s stock worth $268,000 after purchasing an additional 45 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Northrop Grumman during the 1st quarter valued at about $966,000. Edgestream Partners L.P. grew its position in Northrop Grumman by 119.8% during the 1st quarter. Edgestream Partners L.P. now owns 2,042 shares of the aerospace company’s stock worth $977,000 after acquiring an additional 1,113 shares during the last quarter. Jacobi Capital Management LLC increased its stake in Northrop Grumman by 3.9% in the 1st quarter. Jacobi Capital Management LLC now owns 1,956 shares of the aerospace company’s stock worth $936,000 after purchasing an additional 73 shares during the period. Finally, Cynosure Group LLC bought a new stake in Northrop Grumman in the first quarter valued at approximately $330,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

NOC stock opened at $493.99 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm has a market capitalization of $71.97 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.00 and a beta of 0.35. The firm has a 50 day moving average price of $523.27 and a 200-day moving average price of $486.19. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results 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 business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. During the same period in the previous year, the company posted $6.18 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.67%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 1,289 shares of company stock valued at $685,273. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Citigroup upped their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company increased their price objective on Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Susquehanna upped their target price on Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $550.56.

About Northrop Grumman

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.