Northrop Grumman Corporation $NOC Stock: Eurizon Capital SGR S.p.A. Lowers Holdings

Eurizon Capital SGR S.p.A. trimmed its holdings in Northrop Grumman Corporation (NYSE:NOC) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,369 shares of the aerospace company’s stock after selling 3,313 shares during the period. Eurizon Capital SGR S.p.A. owned about 0.09% of Northrop Grumman worth $64,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Northrop Grumman in the 2nd quarter worth about $6,001,616,000. Bank of America Corp DE bought a new position in Northrop Grumman in the 2nd quarter valued at about $1,298,141,000. Bank of New York Mellon Corp bought a new position in Northrop Grumman in the 2nd quarter valued at about $376,135,000. Corient Private Wealth LP acquired a new position in Northrop Grumman during the 2nd quarter valued at about $44,039,000. Finally, Deutsche Bank AG acquired a new position in Northrop Grumman during the 2nd quarter valued at about $194,058,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $549.64 on Friday. The business’s 50 day simple moving average is $520.29 and its 200 day simple moving average is $586.52. Northrop Grumman Corporation has a 12 month low of $470.06 and a 12 month high of $774.00. The company has a market cap of $78.08 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 2.96 and a beta of -0.13. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.77.

Northrop Grumman (NYSE:NOC) last released its earnings results on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.18 by $0.71. The business had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $11.14 billion. Northrop Grumman had a return on equity of 23.46% and a net margin of 10.37%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $7.67 earnings per share. Sell-side analysts forecast that Northrop Grumman Corporation will post 29.68 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st were given a dividend of $2.47 per share. This represents a $9.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, August 31st. Northrop Grumman’s dividend payout ratio (DPR) is currently 31.17%.

Analyst Ratings Changes

A number of analysts have commented on NOC shares. Barclays boosted their price objective on Northrop Grumman from $419.00 to $430.00 and gave the stock an “underweight” rating in a report on Thursday, October 22nd. Royal Bank Of Canada raised their target price on Northrop Grumman from $525.00 to $550.00 and gave the company a “sector perform” rating in a report on Wednesday, October 21st. Robert W. Baird raised Northrop Grumman from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $550.00 to $675.00 in a research report on Wednesday, October 21st. Deutsche Bank set a $615.00 price target on Northrop Grumman and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Rothschild & Co Redburn began coverage on shares of Northrop Grumman in a research report on Tuesday, October 6th. They issued a “buy” rating and a $680.00 price objective for the company. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $643.74.

Insider Buying and Selling

In related news, Director Mark Welsh, III sold 98 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $555.65, for a total value of $54,453.70. Following the completion of the transaction, the director directly owned 4,314 shares of the company’s stock, valued at approximately $2,397,074.10. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.21% of the company’s stock.

Northrop Grumman Profile

Northrop Grumman Corporation is a U.S.-based aerospace and defense company that develops and produces systems for government and commercial customers. Its business spans aeronautics, defense, mission technologies and space, including military aircraft, autonomous systems, missile and air-defense capabilities, sensors, communications and satellites. The company is the prime contractor for the B-21 Raider and is developing the Sentinel intercontinental ballistic missile system. It also supplies technologies and components for other defense programs, as well as launch vehicles, propulsion systems and spacecraft.