Northrop Grumman Corporation $NOC Holdings Trimmed by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Northrop Grumman stake by 3.0% in the third quarter, selling 9,130 shares and retaining 299,627 shares valued at approximately $144.9 million. Institutional investors collectively own 83.4% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $643.74. Recent targets range from $605 to $765.
• Northrop Grumman exceeded quarterly earnings expectations, reporting $7.89 in EPS versus the $7.18 consensus estimate, while revenue reached $11.12 billion, up 6.7% year over year. The company also pays a $2.47 quarterly dividend, equivalent to a 1.8% yield.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,627 shares of the aerospace company's stock after selling 9,130 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Northrop Grumman worth $144,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Perkins Coie Trust Co purchased a new stake in shares of Northrop Grumman during the second quarter valued at approximately $29,000. Navigoe LLC bought a new stake in Northrop Grumman during the 2nd quarter valued at $30,000. Plato Investment Management Ltd purchased a new stake in shares of Northrop Grumman during the second quarter worth about $30,000. Elevation Wealth Partners LLC bought a new position in Northrop Grumman during the 3rd quarter valued at approximately $30,000. Finally, Compass Wealth Management LLC purchased a new stake in Northrop Grumman in the 3rd quarter worth approximately $32,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Northrop Grumman from $600.00 to $605.00 and gave the stock a "neutral" rating in a research note on Monday, October 26th. Weiss Ratings upgraded shares of Northrop Grumman from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $620.00 target price (down from $800.00) on shares of Northrop Grumman in a research report on Wednesday, July 8th. Morgan Stanley lifted their target price on shares of Northrop Grumman from $745.00 to $765.00 and gave the company an "overweight" rating in a research note on Wednesday, October 21st. Finally, Citigroup increased their price target on shares of Northrop Grumman from $617.00 to $667.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $643.74.

Northrop Grumman Stock Performance

Shares of NYSE:NOC opened at $558.79 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.77. Northrop Grumman Corporation has a 12 month low of $470.06 and a 12 month high of $774.00. The company has a market capitalization of $79.38 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 3.00 and a beta of -0.13. The firm's 50-day moving average is $520.51 and its 200 day moving average is $591.78.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.18 by $0.71. The company had revenue of $11.12 billion for the quarter, compared to analyst estimates of $11.14 billion. Northrop Grumman had a return on equity of 23.46% and a net margin of 10.37%. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $7.67 EPS. Research analysts predict that Northrop Grumman Corporation will post 29.64 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Monday, August 31st were given a dividend of $2.47 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $9.88 dividend on an annualized basis and a dividend yield of 1.8%. Northrop Grumman's dividend payout ratio is currently 31.17%.

About Northrop Grumman

Northrop Grumman Corporation NYSE: NOC is a global aerospace and defense company that develops and produces systems for government and commercial customers, with the U.S. government representing its primary customer base. The company operates across aerospace, defense, space, cybersecurity and advanced technology markets.

Its products and services include military aircraft and autonomous systems, space systems and satellites, missile defense technologies, command-and-control systems, cyber solutions, sensors, communications networks and other mission-critical systems.

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