Brooklyn Investment Group Sells 29 Shares of Northrop Grumman Co. (NYSE:NOC)

Brooklyn Investment Group cut its position in Northrop Grumman Co. (NYSE:NOC) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,064 shares of the aerospace company’s stock after selling 29 shares during the quarter. Brooklyn Investment Group’s holdings in Northrop Grumman were worth $562,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NOC. Bank of Montreal Can boosted its position in Northrop Grumman by 4.4% during the 3rd quarter. Bank of Montreal Can now owns 231,736 shares of the aerospace company’s stock worth $122,076,000 after buying an additional 9,723 shares during the period. DRW Securities LLC raised its stake in shares of Northrop Grumman by 92.7% during the third quarter. DRW Securities LLC now owns 2,071 shares of the aerospace company’s stock valued at $1,094,000 after acquiring an additional 996 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Northrop Grumman by 2.6% during the third quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock valued at $112,222,000 after acquiring an additional 5,334 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Northrop Grumman by 11.5% during the third quarter. Daiwa Securities Group Inc. now owns 16,994 shares of the aerospace company’s stock worth $8,974,000 after purchasing an additional 1,747 shares during the period. Finally, Marco Investment Management LLC grew its stake in shares of Northrop Grumman by 1.2% in the third quarter. Marco Investment Management LLC now owns 16,450 shares of the aerospace company’s stock worth $8,687,000 after purchasing an additional 200 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated 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 transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 1,289 shares of company stock worth $685,273. Insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

NOC stock opened at $485.27 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The company’s 50-day moving average is $519.87 and its 200-day moving average is $487.03. The stock has a market capitalization of $70.70 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 1.00 and a beta of 0.35. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

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, topping the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.18 earnings per share. Equities research analysts expect that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, December 2nd. Northrop Grumman’s payout ratio is currently 51.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOC. Morgan Stanley raised their target price on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a report on Tuesday, August 27th. UBS Group increased their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently 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.