FARMERS & MERCHANTS TRUST Co OF LONG BEACH Boosts Stock Position in Northrop Grumman Co. (NYSE:NOC)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,899 shares of the aerospace company’s stock after acquiring an additional 328 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Northrop Grumman were worth $2,485,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rafferty Asset Management LLC lifted its position in shares of Northrop Grumman by 4.2% during the second quarter. Rafferty Asset Management LLC now owns 36,629 shares of the aerospace company’s stock worth $13,312,000 after acquiring an additional 1,482 shares in the last quarter. Bessemer Securities LLC lifted its position in shares of Northrop Grumman by 243.6% during the second quarter. Bessemer Securities LLC now owns 3,092 shares of the aerospace company’s stock worth $1,124,000 after acquiring an additional 2,192 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management raised its position in shares of Northrop Grumman by 11.8% in the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 5,590 shares of the aerospace company’s stock worth $2,031,000 after buying an additional 588 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Northrop Grumman by 2.8% in the second quarter. Envestnet Asset Management Inc. now owns 126,657 shares of the aerospace company’s stock worth $46,031,000 after buying an additional 3,424 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Northrop Grumman by 55.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 328,616 shares of the aerospace company’s stock worth $117,935,000 after buying an additional 117,813 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

A number of equities research analysts recently issued reports on NOC shares. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a research report on Wednesday, October 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $410.00 price objective on shares of Northrop Grumman in a research report on Monday, November 1st. Susquehanna Bancshares lowered their price objective on Northrop Grumman from $424.00 to $416.00 and set a “positive” rating on the stock in a research report on Friday, October 29th. Susquehanna lowered their price objective on Northrop Grumman from $424.00 to $416.00 and set a “positive” rating on the stock in a research report on Friday, October 29th. Finally, Morgan Stanley lowered their price objective on Northrop Grumman from $478.00 to $440.00 and set an “overweight” rating on the stock in a research report on Thursday, November 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $394.15.

Northrop Grumman stock traded down $2.84 during mid-day trading on Thursday, hitting $361.37. The company’s stock had a trading volume of 606,958 shares, compared to its average volume of 886,701. The business has a 50 day moving average price of $369.12 and a 200-day moving average price of $367.11. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.47 and a quick ratio of 1.37. Northrop Grumman Co. has a 12 month low of $282.88 and a 12 month high of $408.03. The stock has a market cap of $57.29 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.57 and a beta of 0.83.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, October 28th. The aerospace company reported $6.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.93 by $0.70. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.94 billion. Northrop Grumman had a return on equity of 39.17% and a net margin of 12.42%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.89 earnings per share. On average, equities research analysts expect that Northrop Grumman Co. will post 25.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Monday, November 29th will be given a $1.57 dividend. The ex-dividend date is Friday, November 26th. This represents a $6.28 annualized dividend and a yield of 1.74%. Northrop Grumman’s payout ratio is currently 22.07%.

In other news, Director Karl J. Krapek sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 11th. The shares were sold at an average price of $357.25, for a total value of $1,000,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.

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

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