Nuance Investments LLC Sells 62,677 Shares of Northrop Grumman Corporation (NYSE:NOC)

Key Points

• Nuance Investments LLC has significantly reduced its stake in Northrop Grumman, selling 62,677 shares and holding just 27,996 shares, which represents a 69.1% decrease in their position.
• Northrop Grumman reported earnings of $7.11 per share, exceeding analysts' expectations, and had a revenue increase of 1.3% year-over-year, bringing in $10.35 billion for the quarter.
• The company recently announced an increased quarterly dividend of $2.31, up from $2.06, indicating a strong commitment to returning value to shareholders.

Nuance Investments LLC cut its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 69.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,996 shares of the aerospace company's stock after selling 62,677 shares during the period. Northrop Grumman makes up approximately 0.9% of Nuance Investments LLC's portfolio, making the stock its 28th biggest position. Nuance Investments LLC's holdings in Northrop Grumman were worth $14,334,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. IMA Advisory Services Inc. bought a new position in shares of Northrop Grumman in the 1st quarter worth about $27,000. Banque Cantonale Vaudoise bought a new position in shares of Northrop Grumman in the 1st quarter worth about $30,000. Wood Tarver Financial Group LLC bought a new position in shares of Northrop Grumman in the 4th quarter worth about $32,000. Bellwether Advisors LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at about $33,000. Finally, Hollencrest Capital Management grew its stake in shares of Northrop Grumman by 790.0% in the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $45,000 after buying an additional 79 shares during the period. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Price Performance

NOC stock opened at $580.42 on Tuesday. The company has a market capitalization of $83.10 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 5.51 and a beta of 0.15. 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 52-week low of $426.24 and a 52-week high of $594.68. The business has a 50-day simple moving average of $524.60 and a two-hundred day simple moving average of $498.42.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts' consensus estimates of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%. The firm had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the business earned $6.36 EPS. The company's revenue was up 1.3% compared to the same quarter last year. Research analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NOC. JPMorgan Chase & Co. raised their target price on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Morgan Stanley raised their target price on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. UBS Group reduced their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen downgraded Northrop Grumman from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, Robert W. Baird raised their target price on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $586.79.

Insiders Place Their Bets

In other news, VP Roshan S. Roeder sold 991 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the transaction, the vice president owned 319 shares in the company, valued at $156,310. The trade was a 75.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 7,500 shares of the business's 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 $3,793,275.00. Following the completion of the transaction, the chief executive officer owned 201,602 shares in the company, valued at $101,964,243.54. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,536 shares of company stock worth $8,306,857 over the last 90 days. 0.23% of the stock is currently 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.

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