Northrop Grumman Co. (NYSE:NOC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 11.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,821 shares of the aerospace company’s stock after selling 480 shares during the period. Assenagon Asset Management S.A.’s holdings in Northrop Grumman were worth $2,018,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Ascent Group LLC lifted its stake in Northrop Grumman by 0.5% during the 2nd quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock worth $1,891,000 after acquiring an additional 20 shares in the last quarter. Cornell Pochily Investment Advisors Inc. raised its position in Northrop Grumman by 0.9% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock valued at $1,131,000 after purchasing an additional 20 shares in the last quarter. Asset Dedication LLC raised its position in Northrop Grumman by 1.0% in the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after purchasing an additional 20 shares in the last quarter. Foundations Investment Advisors LLC raised its position in Northrop Grumman by 1.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock valued at $780,000 after purchasing an additional 20 shares in the last quarter. Finally, Salvus Wealth Management LLC raised its position in Northrop Grumman by 1.6% in the 3rd quarter. Salvus Wealth Management LLC now owns 1,321 shares of the aerospace company’s stock valued at $698,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Trading Up 0.7 %

NYSE:NOC opened at $509.02 on Friday. The stock’s 50 day moving average price is $523.57 and its 200 day moving average price is $482.45. The company has a market capitalization of $74.16 billion, a PE ratio of 31.54, a P/E/G ratio of 2.31 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter last year, the business posted $6.18 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that Northrop Grumman Co. will post 25.87 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.62%. Northrop Grumman’s payout ratio is 51.05%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NOC shares. Citigroup increased their price target on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and increased their price target for the company from $474.00 to $575.00 in a research report on Monday, July 29th. Morgan Stanley increased their price target on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Royal Bank of Canada increased their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $550.56.

Northrop Grumman Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. 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.