Banco Santander S.A. Reduces Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Banco Santander S.A. lowered its position in Northrop Grumman Co. (NYSE:NOC) by 51.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 33,000 shares of the aerospace company’s stock after selling 35,000 shares during the period. Banco Santander S.A.’s holdings in Northrop Grumman were worth $9,984,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NOC. Capital International Investors increased its position in Northrop Grumman by 5.7% during the 4th quarter. Capital International Investors now owns 16,203,570 shares of the aerospace company’s stock worth $5,573,546,000 after purchasing an additional 877,311 shares in the last quarter. AQR Capital Management LLC increased its position in Northrop Grumman by 141.5% during the 4th quarter. AQR Capital Management LLC now owns 1,072,419 shares of the aerospace company’s stock worth $368,879,000 after purchasing an additional 628,367 shares in the last quarter. Jennison Associates LLC increased its position in Northrop Grumman by 5,176.0% during the 1st quarter. Jennison Associates LLC now owns 286,538 shares of the aerospace company’s stock worth $86,692,000 after purchasing an additional 281,107 shares in the last quarter. Macquarie Group Ltd. increased its position in Northrop Grumman by 11.1% during the 4th quarter. Macquarie Group Ltd. now owns 2,490,685 shares of the aerospace company’s stock worth $856,721,000 after purchasing an additional 248,217 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Northrop Grumman during the 4th quarter worth about $83,378,000. Hedge funds and other institutional investors own 82.58% of the company’s stock.

Shares of NYSE NOC traded down $2.20 during midday trading on Friday, hitting $325.91. The stock had a trading volume of 723,923 shares, compared to its average volume of 884,530. The company has a market capitalization of $54.70 billion, a price-to-earnings ratio of 24.56 and a beta of 0.81. Northrop Grumman Co. has a 1-year low of $263.31 and a 1-year high of $385.01. The company has a quick ratio of 1.21, a current ratio of 1.29 and a debt-to-equity ratio of 1.72. The company has a fifty day moving average price of $331.34 and a 200 day moving average price of $344.60.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $5.15 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.36). The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.54 billion. Northrop Grumman had a net margin of 6.57% and a return on equity of 39.22%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.06 earnings per share. On average, research analysts forecast that Northrop Grumman Co. will post 22.12 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be paid a $1.45 dividend. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.32. This represents a $5.80 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, May 29th. Northrop Grumman’s payout ratio is currently 24.89%.

In related news, VP Mark A. Caylor sold 3,340 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $324.69, for a total transaction of $1,084,464.60. Following the transaction, the vice president now directly owns 14,415 shares of the company’s stock, valued at approximately $4,680,406.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark A. Caylor sold 4,805 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $361.07, for a total value of $1,734,941.35. Following the transaction, the vice president now directly owns 17,755 shares in the company, valued at $6,410,797.85. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

A number of analysts recently commented on NOC shares. Seaport Global Securities started coverage on Northrop Grumman in a research report on Tuesday. They set a “buy” rating and a $398.00 price objective for the company. Cowen upgraded Northrop Grumman from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $360.00 to $370.00 in a research report on Friday, May 15th. ValuEngine cut Northrop Grumman from a “hold” rating to a “sell” rating in a research report on Wednesday, April 1st. Morgan Stanley lifted their price target on Northrop Grumman from $380.00 to $412.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Finally, Royal Bank of Canada initiated coverage on Northrop Grumman in a report on Wednesday. They issued a “sector perform” rating and a $366.00 price target for the company. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $387.92.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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

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