Natixis Advisors LLC Sells 26,093 Shares of Northrop Grumman Co. (NYSE:NOC)

Natixis Advisors LLC lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 29.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 61,920 shares of the aerospace company’s stock after selling 26,093 shares during the period. Natixis Advisors LLC’s holdings in Northrop Grumman were worth $32,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOC. Optimum Investment Advisors grew its holdings in shares of Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 41 shares during the last quarter. Bank & Trust Co bought a new position in Northrop Grumman in the second quarter worth approximately $28,000. Meeder Asset Management Inc. grew its position in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after buying an additional 54 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Northrop Grumman during the 3rd quarter worth about $40,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Northrop Grumman during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $493.99 on Monday. 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 fifty day moving average of $523.27 and a 200 day moving average of $486.19. The firm has a market cap of $71.97 billion, a PE ratio of 30.61, a PEG ratio of 1.00 and a beta of 0.35. Northrop Grumman Co. has a one year low of $418.60 and a one year 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 analysts’ consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.18 earnings per share. As a group, research analysts predict that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

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

Wall Street Analysts Forecast Growth

NOC has been the topic of several analyst reports. Citigroup lifted their target price on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays upped their target price on Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Royal Bank of Canada lifted their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $550.56.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, 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 SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 1,289 shares of company stock worth $685,273. 0.22% of the stock is owned by corporate insiders.

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.