Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Northrop Grumman Corporation (NYSE:NOC)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 348,790 shares of the aerospace company's stock after selling 1,832 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Northrop Grumman worth $178,584,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NOC. GAM Holding AG raised its position in shares of Northrop Grumman by 51.9% in the first quarter. GAM Holding AG now owns 2,338 shares of the aerospace company's stock worth $1,197,000 after buying an additional 799 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Northrop Grumman by 12.8% in the fourth quarter. Schroder Investment Management Group now owns 8,857 shares of the aerospace company's stock worth $4,132,000 after buying an additional 1,008 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Northrop Grumman by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company's stock worth $1,417,850,000 after buying an additional 21,903 shares in the last quarter. RFG Bristol Wealth Advisors LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter worth $284,000. Finally, Teacher Retirement System of Texas raised its position in shares of Northrop Grumman by 74.4% in the fourth quarter. Teacher Retirement System of Texas now owns 156,149 shares of the aerospace company's stock worth $73,279,000 after buying an additional 66,638 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Up 0.2%

NOC opened at $494.45 on Friday. The company has a market cap of $71.17 billion, a P/E ratio of 19.51, a P/E/G ratio of 5.39 and a beta of 0.14. The business's 50-day moving average price is $484.86 and its 200-day moving average price is $483.43. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. Northrop Grumman Corporation has a 12 month low of $422.69 and a 12 month high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 EPS 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 analysts' expectations of $10.07 billion. Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. On average, equities analysts expect 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. Stockholders of record on Monday, June 2nd were issued a $2.31 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.87%. This is an increase from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's payout ratio is currently 36.46%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NOC. Royal Bank Of Canada lowered their price objective on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Truist Financial lowered their price objective on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Susquehanna lowered their price objective on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen cut Northrop Grumman from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group raised Northrop Grumman from a "sell" rating to a "neutral" rating and increased their target price for the company from $424.00 to $521.00 in a research note on Friday, April 11th. Seven investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $552.54.

Insider Transactions at Northrop Grumman

In related news, VP Roshan S. Roeder sold 991 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the sale, the vice president now directly owns 319 shares of the company's stock, valued at $156,310. This trade represents a 75.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $495.00, for a total value of $1,856,250.00. Following the completion of the sale, the chief executive officer now directly owns 209,102 shares in the company, valued at $103,505,490. The trade was a 1.76% decrease in their ownership of the stock. 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. Company insiders own 0.23% of the company's stock.

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.

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