Sumitomo Mitsui Trust Holdings Inc. Cuts Stake in Northrop Grumman Co. (NYSE:NOC)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,531 shares of the aerospace company's stock after selling 5,792 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of Northrop Grumman worth $175,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. London Co. of Virginia bought a new stake in shares of Northrop Grumman during the third quarter valued at approximately $165,786,000. Invesco Ltd. raised its holdings in Northrop Grumman by 74.7% in the third quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company's stock worth $517,028,000 after purchasing an additional 502,060 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Northrop Grumman by 19.7% during the fourth quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company's stock valued at $7,731,000 after acquiring an additional 2,723 shares in the last quarter. Phraction Management LLC acquired a new position in shares of Northrop Grumman during the third quarter valued at about $677,000. Finally, Cerity Partners LLC raised its position in Northrop Grumman by 2,801.7% during the 4th quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company's stock worth $154,720,000 after buying an additional 319,109 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Trading Down 1.1 %

NYSE NOC traded down $4.82 on Monday, reaching $451.29. The company had a trading volume of 1,960,181 shares, compared to its average volume of 992,536. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.05. The business has a 50 day moving average of $459.36 and a two-hundred day moving average of $464.13. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The firm has a market cap of $66.88 billion, a price-to-earnings ratio of 33.48, a P/E/G ratio of 1.83 and a beta of 0.35.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $6.27 EPS for the quarter, beating the consensus estimate of $5.80 by $0.47. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same quarter last year, the business posted $7.50 EPS. The company's revenue for the quarter was up 6.0% on a year-over-year basis. Analysts forecast that Northrop Grumman Co. will post 24.67 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were given a $1.87 dividend. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Friday, February 23rd. Northrop Grumman's payout ratio is 55.49%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NOC. Susquehanna dropped their price target on shares of Northrop Grumman from $560.00 to $540.00 and set a "positive" rating on the stock in a research note on Friday, January 26th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $450.00 price objective (down previously from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. StockNews.com lowered Northrop Grumman from a "buy" rating to a "hold" rating in a report on Monday, January 29th. TheStreet lowered Northrop Grumman from a "b+" rating to a "c+" rating in a research note on Thursday, January 25th. Finally, Robert W. Baird reduced their target price on Northrop Grumman from $505.00 to $475.00 and set a "neutral" rating on the stock in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $494.33.

Insider Activity at Northrop Grumman

In related news, VP Kathryn G. Simpson sold 1,273 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the transaction, the vice president now owns 2,735 shares in the company, valued at $1,231,761.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Northrop Grumman news, VP Kathryn G. Simpson sold 711 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the transaction, the vice president now owns 2,024 shares of the company's stock, valued at approximately $917,317.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kathryn G. Simpson sold 1,273 shares of Northrop Grumman stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $573,321.01. Following the completion of the sale, the vice president now owns 2,735 shares of the company's stock, valued at $1,231,761.95. The disclosure for this sale can be found here. Insiders have sold 3,149 shares of company stock worth $1,421,147 over the last 90 days. 0.22% of the stock is owned by company insiders.

Northrop Grumman 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.