Oregon Public Employees Retirement Fund sells 144 shares of Northrop Grumman Co. (NYSE:NOC)

VaselineSeptember 5, 2024

0 4 minutes read

Oregon Public Employees Retirement Fund reduced its holdings in Northrop Grumman Co. (NYSE:NOC – Free Report) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,946 shares of the aerospace company’s stock after selling 144 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Northrop Grumman were worth $5,208,000 as of its most recent SEC filing.

Several other hedge funds have recently modified their holdings of the business. Optimum Investment Advisors raised its position in Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in Northrop Grumman during the fourth quarter valued at about $29,000. Bank & Trust Co purchased a new stake in Northrop Grumman in the second quarter valued at approximately $28,000. Rise Advisors LLC bought a new stake in Northrop Grumman in the 1st quarter valued at about $38,000. Finally, Riverview Trust Co purchased a new stake in Northrop Grumman in the first quarter valued at $47,000. Hedge funds and other institutional investors own 83.40% of the company’s shares.

Analysts on Wall Street are forecasting an increase

NOC has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. BTIG Research started coverage on Northrop Grumman in a research note on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target for the company. TD Cowen boosted their price objective on shares of Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Barclays upped their target price on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and boosted their target price for the stock from $474.00 to $575.00 in a a research report on Monday, July 29. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $523.20, according to MarketBeat.com.

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Inside buying and selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the sale, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,813 shares of company stock worth $1,375,877. Insiders hold 0.22% of the company’s stock.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $523.49 on Thursday. The company has a market cap of $77.47 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 2.40 and a beta of 0.32. The company has a quick ratio of 0.99, a current ratio of 1.11, and a debt-to-equity ratio of 1.03. The stock’s 50-day simple moving average is $475.08 and its 200-day simple moving average is $464.53. Northrop Grumman Co. it has a 52-week low of $414.56 and a 52-week high of $528.76.

Northrop Grumman (NYSE:NOC – Get Your Free Report ) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. During the same period in the previous year, the firm earned $5.34 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. As a group, analysts expect Northrop Grumman Co. to post 25.15 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a dividend of $2.06 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents an annualized dividend of $8.24 and a yield of 1.57%. Northrop Grumman’s payout ratio is 57.62%.

Northrop Grumman Profile

(Free report)

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe and internationally. The company’s Aeronautical Systems segment designs, develops, manufactures, integrates and supports aircraft systems. This segment also offers autonomous unmanned aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical takeoff and landing tactical ISR systems; and long-range strategic strike aircraft, tactical combat aircraft, and air dominance aircraft, and airborne command and control and management systems.