Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 0.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 353,466 shares of the aerospace company’s stock after acquiring an additional 1,028 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Northrop Grumman were worth $186,655,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Optimum Investment Advisors lifted its position in shares of Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 41 shares during the last quarter. Bank & Trust Co purchased a new position in Northrop Grumman in the 2nd quarter worth about $28,000. Meeder Asset Management Inc. lifted its holdings in Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Northrop Grumman in the 3rd quarter valued at about $40,000. Finally, Strategic Financial Concepts LLC bought a new position in Northrop Grumman in the 2nd quarter worth about $47,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NOC opened at $531.38 on Wednesday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a fifty day moving average price of $523.97 and a 200-day moving average price of $485.43. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The firm has a market cap of $77.42 billion, a PE ratio of 32.92, a P/E/G ratio of 1.08 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping 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 company earned $6.18 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that Northrop Grumman Co. will post 25.95 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

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

Analyst Upgrades and Downgrades

NOC has been the subject of several research analyst reports. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and upped their target price for the stock from $474.00 to $575.00 in a report on Monday, July 29th. Wells Fargo & Company lifted their price objective on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. UBS Group upped their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Northrop Grumman presently has an average rating of “Hold” and a consensus price target of $550.56.

About Northrop Grumman

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.