MML Investors Services LLC Acquires 2,210 Shares of Northrop Grumman Co. (NYSE:NOC)

MML Investors Services LLC increased its holdings in Northrop Grumman Co. (NYSE:NOC) by 8.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 27,859 shares of the aerospace company’s stock after buying an additional 2,210 shares during the quarter. MML Investors Services LLC’s holdings in Northrop Grumman were worth $14,712,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NOC. Van ECK Associates Corp grew its stake in shares of Northrop Grumman by 1,915.9% in the second quarter. Van ECK Associates Corp now owns 438,521 shares of the aerospace company’s stock worth $191,173,000 after acquiring an additional 416,768 shares during the period. Two Sigma Advisers LP grew its position in Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after purchasing an additional 372,500 shares during the period. Marshall Wace LLP purchased a new stake in Northrop Grumman during the 2nd quarter valued at $74,206,000. Canada Pension Plan Investment Board raised its stake in Northrop Grumman by 113.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company’s stock valued at $129,409,000 after buying an additional 157,854 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Northrop Grumman by 16.0% in the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock worth $474,276,000 after buying an additional 150,367 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NYSE:NOC opened at $479.16 on Tuesday. The stock has a market cap of $69.81 billion, a PE ratio of 29.69, a P/E/G ratio of 0.96 and a beta of 0.33. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The business’s 50-day simple moving average is $511.56 and its two-hundred day simple moving average is $487.91. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Northrop Grumman’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $6.18 earnings per share. As a group, analysts forecast that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 1,255 shares of company stock valued at $666,461 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on NOC shares. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Friday. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. UBS Group raised their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays upped their target price on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Susquehanna lifted their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $550.56.

About Northrop Grumman

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.