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Maryland State Retirement & Pension System Sells 918 Shares of Northrop Grumman Corporation (NYSE:NOC)

Northrop Grumman logo with Aerospace background

Key Points

  • The Maryland State Retirement & Pension System reduced its stake in Northrop Grumman by 12.5%, selling 918 shares and now holding 6,450 shares valued at approximately $3.3 million.
  • Several institutional investors, including Vanguard Group and Capital International Investors, have increased their holdings in Northrop Grumman, indicating strong institutional interest in the company, which now has 83.40% of its stock owned by institutions.
  • Northrop Grumman has recently increased its quarterly dividend to $2.31 per share, yielding approximately 1.6%, up from the previous dividend of $2.06.
  • Looking to Export and Analyze Northrop Grumman Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Maryland State Retirement & Pension System decreased its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 12.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,450 shares of the aerospace company's stock after selling 918 shares during the period. Maryland State Retirement & Pension System's holdings in Northrop Grumman were worth $3,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Northrop Grumman by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock worth $6,792,479,000 after purchasing an additional 588,520 shares during the last quarter. Capital International Investors raised its holdings in Northrop Grumman by 5.9% in the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company's stock valued at $3,866,133,000 after acquiring an additional 461,307 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Northrop Grumman by 28.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company's stock valued at $952,962,000 after acquiring an additional 450,858 shares during the last quarter. GAMMA Investing LLC raised its holdings in Northrop Grumman by 55,522.3% in the 1st quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock valued at $778,336,000 after acquiring an additional 1,517,425 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Northrop Grumman by 10.4% in the 4th quarter. Northern Trust Corp now owns 1,251,050 shares of the aerospace company's stock valued at $587,105,000 after acquiring an additional 118,211 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on NOC shares. Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. UBS Group dropped their price target on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price target on shares of Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $542.00 price target (down previously from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Finally, Barclays increased their price target on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $586.79.

Get Our Latest Stock Analysis on Northrop Grumman

Northrop Grumman Trading Down 0.3%

NYSE NOC opened at $587.43 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $594.68. The company's 50 day moving average price is $520.72 and its 200 day moving average price is $497.35. The firm has a market capitalization of $84.11 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 5.58 and a beta of 0.15.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.36 earnings per share. On average, sell-side analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were paid a $2.31 dividend. The ex-dividend date was Monday, June 2nd. This represents a $9.24 annualized dividend and a yield of 1.6%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio (DPR) is currently 34.06%.

Insider Activity at Northrop Grumman

In other news, VP Robert J. Fleming sold 3,500 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $1,770,195.00. Following the completion of the sale, the vice president directly owned 1,827 shares of the company's stock, valued at approximately $924,041.79. This represents a 65.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas H. Jones sold 729 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the completion of the transaction, the vice president directly owned 7,552 shares of the company's stock, valued at approximately $3,819,575.04. This trade represents a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,536 shares of company stock worth $8,306,857 in the last 90 days. 0.23% of the stock is owned by corporate insiders.

Northrop Grumman Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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