Morris Capital Advisors LLC Lowers Stock Position in Northrop Grumman Co. (NYSE:NOC)

Morris Capital Advisors LLC lessened its holdings in Northrop Grumman Co. (NYSE:NOCGet Rating) by 4.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,192 shares of the aerospace company’s stock after selling 58 shares during the quarter. Morris Capital Advisors LLC’s holdings in Northrop Grumman were worth $570,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NOC. Sanders Capital LLC lifted its position in shares of Northrop Grumman by 37.4% in the 4th quarter. Sanders Capital LLC now owns 2,728,700 shares of the aerospace company’s stock worth $1,079,988,000 after purchasing an additional 742,676 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Northrop Grumman by 6,333.8% during the 1st quarter. 1832 Asset Management L.P. now owns 447,986 shares of the aerospace company’s stock worth $197,597,000 after acquiring an additional 441,023 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Northrop Grumman by 23.6% during the 4th quarter. Nuveen Asset Management LLC now owns 1,191,705 shares of the aerospace company’s stock worth $461,274,000 after acquiring an additional 227,433 shares in the last quarter. Manning & Napier Group LLC raised its stake in shares of Northrop Grumman by 230.8% during the 2nd quarter. Manning & Napier Group LLC now owns 199,903 shares of the aerospace company’s stock worth $95,666,000 after acquiring an additional 139,481 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Northrop Grumman by 12.0% during the 1st quarter. Capital World Investors now owns 733,172 shares of the aerospace company’s stock worth $327,889,000 after acquiring an additional 78,742 shares in the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.

Analyst Ratings Changes

NOC has been the subject of several recent analyst reports. Susquehanna Bancshares boosted their price objective on shares of Northrop Grumman from $530.00 to $560.00 and gave the stock a “positive” rating in a research note on Wednesday, August 31st. Robert W. Baird upgraded shares of Northrop Grumman from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $488.00 to $529.00 in a research note on Friday, July 29th. Morgan Stanley upped their price target on shares of Northrop Grumman from $521.00 to $530.00 and gave the company an “overweight” rating in a research note on Tuesday, July 12th. Royal Bank of Canada assumed coverage on shares of Northrop Grumman in a research note on Monday, August 29th. They set a “sector perform” rating and a $550.00 price target on the stock. Finally, StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Saturday, September 17th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $487.75.

Northrop Grumman Stock Performance

NYSE NOC traded down $17.60 during mid-day trading on Friday, reaching $478.86. 28,358 shares of the stock were exchanged, compared to its average volume of 691,050. The business’s 50 day moving average is $477.14 and its 200-day moving average is $464.47. Northrop Grumman Co. has a 1 year low of $345.90 and a 1 year high of $515.49. The company has a market capitalization of $74.08 billion, a P/E ratio of 13.82, a P/E/G ratio of 9.09 and a beta of 0.61. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.20 and a current ratio of 1.30.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 29th were issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, August 26th. Northrop Grumman’s dividend payout ratio (DPR) is presently 19.26%.

Insider Buying and Selling

In related news, CEO Kathy J. Warden sold 10,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $481.87, for a total transaction of $4,818,700.00. Following the sale, the chief executive officer now directly owns 134,583 shares of the company’s stock, valued at $64,851,510.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Northrop Grumman news, CEO Kathy J. Warden sold 10,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $481.87, for a total transaction of $4,818,700.00. Following the transaction, the chief executive officer now directly owns 134,583 shares of the company’s stock, valued at $64,851,510.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Sheila C. Cheston sold 4,025 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $473.99, for a total transaction of $1,907,809.75. Following the transaction, the vice president now directly owns 25,350 shares in the company, valued at $12,015,646.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,607 shares of company stock valued at $7,007,034. Corporate insiders own 0.25% of the company’s stock.

Northrop Grumman Profile

(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.

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

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