Healthcare of Ontario Pension Plan Trust Fund Has $8.84 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)


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Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 70.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,019 shares of the aerospace company’s stock after selling 68,513 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Northrop Grumman were worth $8,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of NOC. BlackRock Inc. raised its holdings in Northrop Grumman by 2.7% in the 4th quarter. BlackRock Inc. now owns 9,489,573 shares of the aerospace company’s stock valued at $2,891,661,000 after acquiring an additional 246,575 shares during the period. Morgan Stanley boosted its stake in Northrop Grumman by 43.9% in the 4th quarter. Morgan Stanley now owns 1,412,149 shares of the aerospace company’s stock valued at $430,309,000 after purchasing an additional 430,661 shares during the period. Bank of New York Mellon Corp grew its holdings in Northrop Grumman by 3.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,389,433 shares of the aerospace company’s stock valued at $423,389,000 after buying an additional 46,424 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Northrop Grumman by 30.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,243,441 shares of the aerospace company’s stock worth $378,901,000 after buying an additional 289,553 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Northrop Grumman by 382.9% in the fourth quarter. Clearbridge Investments LLC now owns 1,104,396 shares of the aerospace company’s stock valued at $336,532,000 after acquiring an additional 875,705 shares in the last quarter. 82.65% of the stock is currently owned by institutional investors.

Shares of NOC opened at $333.97 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.36 and a current ratio of 1.44. Northrop Grumman Co. has a 52 week low of $282.88 and a 52 week high of $357.12. The stock has a market capitalization of $55.68 billion, a price-to-earnings ratio of 22.84 and a beta of 0.75. The stock has a fifty day moving average of $307.18 and a 200-day moving average of $305.44.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 28th. The aerospace company reported $6.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.89. Northrop Grumman had a return on equity of 40.02% and a net margin of 6.94%. The business had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the firm earned $5.61 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, equities analysts forecast that Northrop Grumman Co. will post 22.72 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 17th. Investors of record on Monday, March 1st were issued a $1.45 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $5.80 dividend on an annualized basis and a yield of 1.74%. Northrop Grumman’s dividend payout ratio (DPR) is presently 27.35%.

In other Northrop Grumman news, VP Lesley A. Kalan sold 1,560 shares of the company’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $308.31, for a total value of $480,963.60. Following the sale, the vice president now owns 12,331 shares in the company, valued at approximately $3,801,770.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Janis G. Pamiljans sold 801 shares of Northrop Grumman stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $295.80, for a total value of $236,935.80. Following the completion of the transaction, the vice president now directly owns 12,466 shares in the company, valued at $3,687,442.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,286 shares of company stock worth $4,294,598. 0.27% of the stock is owned by corporate insiders.

Several brokerages have recently commented on NOC. Susquehanna Bancshares lowered their target price on shares of Northrop Grumman from $380.00 to $350.00 and set a “positive” rating on the stock in a report on Friday, January 29th. Robert W. Baird downgraded Northrop Grumman from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $386.00 to $331.00 in a research note on Thursday, January 7th. Credit Suisse Group decreased their target price on shares of Northrop Grumman from $377.00 to $353.00 and set an “outperform” rating on the stock in a report on Friday, January 29th. Susquehanna cut their price target on shares of Northrop Grumman from $380.00 to $350.00 and set a “positive” rating for the company in a report on Friday, January 29th. They noted that the move was a valuation call. Finally, Morgan Stanley decreased their price objective on shares of Northrop Grumman from $453.00 to $447.00 and set an “overweight” rating on the stock in a research note on Monday, February 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Northrop Grumman currently has an average rating of “Buy” and an average target price of $373.08.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems for strategic and tactical intelligence, surveillance, and reconnaissance (ISR) missions; and long-range strike aircraft systems, tactical fighter aircrafts, and airborne battle management systems.

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

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