Kentucky Retirement Systems Insurance Trust Fund Sells 417 Shares of Northrop Grumman Co. (NYSE:NOC)

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in Northrop Grumman Co. (NYSE:NOC) by 9.3% during the third quarter, Holdings Channel.com reports. The firm owned 4,070 shares of the aerospace company’s stock after selling 417 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Northrop Grumman were worth $2,149,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NOC. Optimum Investment Advisors increased its position in Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 41 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Northrop Grumman during the second quarter worth approximately $28,000. Meeder Asset Management Inc. lifted its stake in shares of Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman in the third quarter valued at about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Northrop Grumman during the 2nd quarter worth approximately $52,000. Institutional investors own 83.40% of the company’s stock.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 1,289 shares of company stock worth $685,273 over the last three months. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

NOC opened at $493.99 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The stock has a market cap of $71.97 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.00 and a beta of 0.35. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The business has a 50 day moving average of $523.27 and a 200-day moving average of $486.19.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter last year, the firm posted $6.18 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Northrop Grumman Co. will post 25.93 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. Shareholders of record on Tuesday, September 3rd were issued a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.67%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NOC shares. UBS Group boosted their target price on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Susquehanna lifted their price objective on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday, October 25th. Finally, Barclays increased their target price 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. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $550.56.

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.