Versor Investments LP Sells 2,199 Shares of Northrop Grumman Co. (NYSE:NOC)

Versor Investments LP reduced its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 56.7% in the third quarter, Holdings Channel reports. The fund owned 1,677 shares of the aerospace company’s stock after selling 2,199 shares during the quarter. Versor Investments LP’s holdings in Northrop Grumman were worth $886,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC raised its stake in shares of Northrop Grumman by 31.1% in the third quarter. Venturi Wealth Management LLC now owns 337 shares of the aerospace company’s stock valued at $178,000 after buying an additional 80 shares during the period. Kennebec Savings Bank purchased a new stake in Northrop Grumman in the 3rd quarter worth about $644,000. Ashton Thomas Securities LLC raised its stake in Northrop Grumman by 11.5% in the 3rd quarter. Ashton Thomas Securities LLC now owns 533 shares of the aerospace company’s stock valued at $281,000 after acquiring an additional 55 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Northrop Grumman by 176.8% during the third quarter. Los Angeles Capital Management LLC now owns 54,214 shares of the aerospace company’s stock valued at $28,629,000 after purchasing an additional 34,629 shares during the last quarter. Finally, Tyler Stone Wealth Management boosted its position in Northrop Grumman by 108.0% during the third quarter. Tyler Stone Wealth Management now owns 803 shares of the aerospace company’s stock worth $424,000 after purchasing an additional 417 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $531.38 on Wednesday. The company has a market cap of $77.42 billion, a PE ratio of 32.92, a P/E/G ratio of 1.07 and a beta of 0.35. The business has a 50 day moving average of $523.97 and a 200 day moving average of $485.43. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.18 earnings per share. As a group, equities research analysts forecast that Northrop Grumman Co. will post 25.95 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a $2.06 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.55%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Royal Bank of Canada lifted their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Barclays increased their price target on shares of Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. UBS Group boosted their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $550.56.

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.