Kentucky Retirement Systems Insurance Trust Fund Sells 3,889 Shares of Northrop Grumman Corporation (NYSE:NOC)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 49.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,972 shares of the aerospace company's stock after selling 3,889 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Northrop Grumman were worth $2,034,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in shares of Northrop Grumman during the fourth quarter worth about $31,000. Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman during the 4th quarter worth approximately $32,000. Bellwether Advisors LLC acquired a new stake in Northrop Grumman during the 4th quarter worth approximately $33,000. Rakuten Securities Inc. grew its holdings in Northrop Grumman by 291.7% during the 4th quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock worth $44,000 after acquiring an additional 70 shares during the last quarter. Finally, VSM Wealth Advisory LLC acquired a new position in Northrop Grumman in the 4th quarter valued at approximately $47,000. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Up 0.4%

Shares of NYSE:NOC traded up $2.10 during mid-day trading on Monday, hitting $499.80. The company had a trading volume of 971,492 shares, compared to its average volume of 881,159. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.84. Northrop Grumman Corporation has a one year low of $422.69 and a one year high of $555.57. The firm has a fifty day moving average price of $489.35 and a 200 day moving average price of $482.95. The company has a market capitalization of $71.94 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 5.43 and a beta of 0.14.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.27). The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $10.07 billion. Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. As a group, research analysts forecast that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a dividend of $2.31 per share. This is an increase from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Monday, June 2nd. Northrop Grumman's dividend payout ratio is 36.46%.

Insiders Place Their Bets

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $495.00, for a total transaction of $1,856,250.00. Following the completion of the sale, the chief executive officer now directly owns 209,102 shares of the company's stock, valued at approximately $103,505,490. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Roshan S. Roeder sold 991 shares of the firm'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 now owns 319 shares in the company, valued at $156,310. This represents a 75.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,569 shares of company stock worth $8,322,279. Corporate insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NOC shares. Morgan Stanley lifted their price target on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Susquehanna cut their target price on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Royal Bank Of Canada decreased their price target on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 price objective on Northrop Grumman and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Truist Financial decreased their target price on shares of Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $553.43.

About Northrop Grumman

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.