Northrop Grumman Co. (NOC) Holdings Reduced by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lowered its position in Northrop Grumman Co. (NYSE:NOC) by 48.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,375 shares of the aerospace company’s stock after selling 1,301 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Northrop Grumman were worth $396,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Hanseatic Management Services Inc. lifted its holdings in Northrop Grumman by 12.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after buying an additional 48 shares in the last quarter. Pittenger & Anderson Inc. increased its position in shares of Northrop Grumman by 28.6% in the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 100 shares during the last quarter. People s United Financial Inc. increased its position in shares of Northrop Grumman by 9.2% in the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after purchasing an additional 40 shares during the last quarter. Ropes Wealth Advisors LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth about $144,000. Finally, Quadrant Capital Group LLC increased its position in shares of Northrop Grumman by 7.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 636 shares of the aerospace company’s stock worth $147,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Shares of Northrop Grumman Co. (NYSE:NOC) opened at $306.91 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.05 and a current ratio of 1.21. Northrop Grumman Co. has a 1 year low of $223.88 and a 1 year high of $311.15. The firm has a market cap of $53,426.28, a PE ratio of 22.87, a P/E/G ratio of 3.09 and a beta of 0.69.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.76. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The business had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the prior year, the firm earned $3.35 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. research analysts expect that Northrop Grumman Co. will post 13.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Monday, December 4th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, December 1st. Northrop Grumman’s dividend payout ratio is presently 29.81%.

In related news, COO Gloria A. Flach sold 7,741 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $296.45, for a total transaction of $2,294,819.45. Following the completion of the sale, the chief operating officer now owns 77,200 shares of the company’s stock, valued at approximately $22,885,940. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Denise M. Peppard sold 2,328 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $300.86, for a total transaction of $700,402.08. Following the sale, the vice president now directly owns 28,553 shares of the company’s stock, valued at approximately $8,590,455.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,417 shares of company stock valued at $6,365,189. Insiders own 0.70% of the company’s stock.

Several research firms have recently weighed in on NOC. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $309.00 target price for the company in a research report on Wednesday, September 20th. Deutsche Bank reissued a “buy” rating and issued a $325.00 target price (up previously from $285.00) on shares of Northrop Grumman in a research report on Monday, October 2nd. Royal Bank of Canada boosted their target price on shares of Northrop Grumman from $324.00 to $347.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. JPMorgan Chase & Co. raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $317.00 to $355.00 in a research report on Tuesday, December 12th. Finally, Vertical Research reissued a “buy” rating and issued a $296.00 target price (up previously from $280.00) on shares of Northrop Grumman in a research report on Wednesday, September 20th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $298.67.

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About Northrop Grumman

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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