Public Sector Pension Investment Board Sells 6,537 Shares of Northrop Grumman Co. (NYSE:NOC)

Public Sector Pension Investment Board lessened its stake in Northrop Grumman Co. (NYSE:NOCGet Rating) by 31.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,055 shares of the aerospace company’s stock after selling 6,537 shares during the quarter. Public Sector Pension Investment Board’s holdings in Northrop Grumman were worth $6,726,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Beck Capital Management LLC increased its stake in shares of Northrop Grumman by 2.8% in the 2nd quarter. Beck Capital Management LLC now owns 1,411 shares of the aerospace company’s stock valued at $675,000 after acquiring an additional 39 shares during the last quarter. Edgestream Partners L.P. raised its holdings in Northrop Grumman by 7.7% in the second quarter. Edgestream Partners L.P. now owns 780 shares of the aerospace company’s stock worth $373,000 after purchasing an additional 56 shares during the period. HCR Wealth Advisors boosted its position in shares of Northrop Grumman by 78.6% during the second quarter. HCR Wealth Advisors now owns 902 shares of the aerospace company’s stock worth $432,000 after purchasing an additional 397 shares in the last quarter. Financial Advocates Investment Management acquired a new position in shares of Northrop Grumman in the 2nd quarter valued at $248,000. Finally, Corient Capital Partners LLC increased its position in shares of Northrop Grumman by 8.8% in the 2nd quarter. Corient Capital Partners LLC now owns 4,659 shares of the aerospace company’s stock valued at $2,230,000 after buying an additional 378 shares in the last quarter. Institutional investors and hedge funds own 83.91% of the company’s stock.

Northrop Grumman Stock Down 0.4 %

Shares of NOC stock opened at $522.34 on Thursday. The firm’s fifty day moving average price is $505.21 and its two-hundred day moving average price is $481.90. Northrop Grumman Co. has a 1 year low of $345.91 and a 1 year high of $556.27. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $80.39 billion, a P/E ratio of 14.84, a PEG ratio of 7.44 and a beta of 0.64.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Monday, November 28th will be issued a dividend of $1.73 per share. The ex-dividend date is Friday, November 25th. This represents a $6.92 annualized dividend and a yield of 1.32%. Northrop Grumman’s payout ratio is presently 19.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lowered Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $490.00 price target on the stock. in a research report on Friday, October 14th. Cowen lifted their price target on shares of Northrop Grumman to $570.00 in a research note on Tuesday, November 1st. Susquehanna increased their price objective on shares of Northrop Grumman from $530.00 to $560.00 and gave the stock a “positive” rating in a research report on Wednesday, August 31st. Wolfe Research started coverage on shares of Northrop Grumman in a research report on Monday, October 10th. They issued an “outperform” rating and a $565.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of Northrop Grumman from $516.00 to $575.00 and gave the stock an “equal weight” rating in a research note on Friday, October 28th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and an average price target of $536.92.

About Northrop Grumman

(Get Rating)

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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.

Further Reading

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

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