Invesco LLC Sells 122 Shares of Northrop Grumman Co. (NYSE:NOC)

Invesco LLC reduced its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,642 shares of the aerospace company’s stock after selling 122 shares during the quarter. Northrop Grumman accounts for about 1.2% of Invesco LLC’s investment portfolio, making the stock its 18th biggest holding. Invesco LLC’s holdings in Northrop Grumman were worth $2,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Gulf International Bank UK Ltd increased its stake in Northrop Grumman by 1,402.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock valued at $6,186,000 after buying an additional 12,065 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in Northrop Grumman during the first quarter worth about $870,000. Norden Group LLC acquired a new position in Northrop Grumman during the first quarter valued at approximately $778,000. Fisher Asset Management LLC grew its stake in Northrop Grumman by 7,574.5% in the fourth quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock valued at $57,879,000 after purchasing an additional 122,026 shares in the last quarter. Finally, Red Mountain Financial LLC acquired a new position in shares of Northrop Grumman during the 4th quarter worth approximately $264,000. 83.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOC has been the subject of several recent analyst reports. UBS Group increased their price objective on Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a report on Friday, July 26th. TD Cowen lifted their price objective on shares of Northrop Grumman from $440.00 to $515.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and upped their target price for the company from $474.00 to $575.00 in a report on Monday, July 29th. Morgan Stanley raised their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company boosted their price target on Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $523.20.

Northrop Grumman Stock Performance

Shares of NYSE NOC opened at $524.37 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. The firm has a market cap of $76.68 billion, a price-to-earnings ratio of 36.67, a P/E/G ratio of 2.36 and a beta of 0.34. The stock’s fifty day moving average price is $480.15 and its two-hundred day moving average price is $465.95. Northrop Grumman Co. has a one year low of $414.56 and a one year high of $528.76.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating 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 business had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $10.02 billion. During the same period in the prior year, the company posted $5.34 earnings per share. Northrop Grumman’s revenue was up 6.7% compared to the same quarter last year. On average, equities analysts forecast that Northrop Grumman Co. will post 25.14 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $2.06 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.57%. Northrop Grumman’s dividend payout ratio is presently 57.62%.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the sale, the vice president now owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the sale, 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. Over the last ninety days, insiders have sold 2,846 shares of company stock valued at $1,393,028. 0.22% of the stock is currently owned by company insiders.

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.