MetLife Investment Management LLC Sells 917 Shares of Northrop Grumman Corporation $NOC

Key Points

• MetLife Investment Management LLC reduced its stake in Northrop Grumman by 2.5%, owning 35,352 shares worth approximately $18.1 million after selling 917 shares in Q1.
• Northrop Grumman announced a $2.31 quarterly dividend, payable on September 17th, representing an annual yield of 1.6% with a payout ratio of 34.06%.
• Analysts have raised target prices for Northrop Grumman, with Bank of America increasing its target from $550 to $650 while maintaining a "buy" rating.

MetLife Investment Management LLC lessened its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,352 shares of the aerospace company's stock after selling 917 shares during the quarter. MetLife Investment Management LLC's holdings in Northrop Grumman were worth $18,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Northrop Grumman by 176.3% in the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock valued at $1,394,000 after acquiring an additional 1,895 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in Northrop Grumman by 2.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock valued at $472,000 after purchasing an additional 22 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in Northrop Grumman by 4.8% during the fourth quarter. Integrated Wealth Concepts LLC now owns 3,894 shares of the aerospace company's stock worth $1,827,000 after purchasing an additional 179 shares during the period. Kovitz Investment Group Partners LLC increased its position in Northrop Grumman by 0.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 9,503 shares of the aerospace company's stock worth $4,460,000 after buying an additional 84 shares during the last quarter. Finally, Capital Analysts LLC raised its stake in Northrop Grumman by 4.2% in the fourth quarter. Capital Analysts LLC now owns 4,392 shares of the aerospace company's stock valued at $2,062,000 after buying an additional 176 shares during the period. 83.40% of the stock is owned by institutional investors.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Roshan S. Roeder sold 991 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the completion of the transaction, the vice president directly owned 319 shares in the company, valued at approximately $156,310. This represents a 75.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kathy J. Warden sold 7,500 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $3,793,275.00. Following the completion of the sale, the chief executive officer owned 201,602 shares of the company's stock, valued at $101,964,243.54. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,536 shares of company stock worth $8,306,857. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on NOC. Barclays lifted their target price on Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Robert W. Baird lifted their price objective on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Wells Fargo & Company restated an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Finally, Susquehanna upped their price target on shares of Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $588.85.

Northrop Grumman Price Performance

Northrop Grumman stock traded up $1.16 during mid-day trading on Thursday, reaching $587.77. 479,045 shares of the company were exchanged, compared to its average volume of 980,454. The firm has a market cap of $84.16 billion, a PE ratio of 21.67, a PEG ratio of 5.68 and a beta of 0.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company has a fifty day simple moving average of $546.89 and a 200-day simple moving average of $506.93. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $600.99.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the business earned $6.36 earnings per share. The company's revenue was up 1.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, equities research analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Northrop Grumman's payout ratio is 34.06%.

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.