Thrivent Financial for Lutherans Sells 11,803 Shares of Northrop Grumman Co. (NYSE:NOC)

Thrivent Financial for Lutherans lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 5.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 207,036 shares of the aerospace company’s stock after selling 11,803 shares during the period. Thrivent Financial for Lutherans owned 0.14% of Northrop Grumman worth $109,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Optimum Investment Advisors lifted its holdings in shares of Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co bought a new position in Northrop Grumman during the second quarter valued at approximately $28,000. Meeder Asset Management Inc. grew its holdings in Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the 3rd quarter worth approximately $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Northrop Grumman during the 2nd quarter worth approximately $52,000. 83.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOC. Susquehanna boosted their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. Citigroup lifted their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. UBS Group lifted their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Morgan Stanley increased their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $550.56.

Northrop Grumman Stock Down 1.3 %

Northrop Grumman stock opened at $493.99 on Monday. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The business has a fifty day moving average of $523.27 and a two-hundred day moving average of $486.19. The firm has a market cap of $71.97 billion, a P/E ratio of 30.61, a P/E/G ratio of 1.00 and a beta of 0.35. 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 (NYSE:NOC) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same period in the previous year, the company posted $6.18 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, analysts forecast that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.67%. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 1,289 shares of company stock worth $685,273. Insiders own 0.22% of the company’s stock.

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.