Versor Investments LP Decreases Stake in Northrop Grumman Corporation $NOC

Key Points

• Versor Investments LP has reduced its stake in Northrop Grumman Corporation by 28.4%, leaving it with 2,790 shares valued at approximately $1.43 million.
• The aerospace company reported a higher-than-expected earnings per share of $7.11 for the last quarter, beating estimates by $0.27, alongside a revenue of $10.35 billion.
• Northrop Grumman recently increased its quarterly dividend to $2.31, reflecting a shift from its previous dividend of $2.06, maintaining a 1.6% yield.

Versor Investments LP trimmed its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 28.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,790 shares of the aerospace company's stock after selling 1,108 shares during the period. Versor Investments LP's holdings in Northrop Grumman were worth $1,429,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NOC. IMA Advisory Services Inc. bought a new stake in shares of Northrop Grumman in the 1st quarter valued at approximately $27,000. Banque Cantonale Vaudoise purchased a new stake in shares of Northrop Grumman in the first quarter worth approximately $30,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter worth approximately $32,000. Bellwether Advisors LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter worth approximately $33,000. Finally, Hollencrest Capital Management raised its holdings in shares of Northrop Grumman by 790.0% in the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after buying an additional 79 shares during the period. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Up 0.1%

Shares of NYSE NOC opened at $584.02 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $83.62 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 5.59 and a beta of 0.15. The stock's fifty day simple moving average is $532.08 and its two-hundred day simple moving average is $501.05. Northrop Grumman Corporation has a 12-month low of $426.24 and a 12-month high of $594.68.

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 (EPS) for the quarter, beating the consensus estimate of $6.84 by $0.27. The business had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%. The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.36 EPS. As a group, analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were given 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 of this dividend was Monday, June 2nd. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's payout ratio is 34.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NOC shares. Bank of America increased their price target on Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Barclays increased their price objective 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. UBS Group dropped their price objective on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company reissued an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Finally, Robert W. Baird increased their price objective on Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Northrop Grumman presently has an average rating of "Moderate Buy" and an average target price of $586.79.

Insiders Place Their Bets

In other news, VP Robert J. Fleming sold 3,500 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $1,770,195.00. Following the completion of the sale, the vice president owned 1,827 shares of the company's stock, valued at $924,041.79. This trade represents a 65.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas H. Jones sold 729 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $368,706.33. Following the completion of the sale, the vice president directly owned 7,552 shares of the company's stock, valued at $3,819,575.04. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,536 shares of company stock worth $8,306,857 over the last quarter. Company insiders own 0.23% of the company's stock.

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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