Horan Capital Advisors LLC. Trims Holdings in Northrop Grumman Co. (NYSE:NOC)

Horan Capital Advisors LLC. cut its stake in Northrop Grumman Co. (NYSE:NOC) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,304 shares of the aerospace company’s stock after selling 85 shares during the quarter. Northrop Grumman makes up about 1.4% of Horan Capital Advisors LLC.’s portfolio, making the stock its 27th largest position. Horan Capital Advisors LLC.’s holdings in Northrop Grumman were worth $2,363,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NOC. Nuveen Asset Management LLC boosted its stake in Northrop Grumman by 32,192.2% during the second quarter. Nuveen Asset Management LLC now owns 1,241,311 shares of the aerospace company’s stock valued at $401,079,000 after buying an additional 1,237,467 shares during the period. Thoroughbred Financial Services LLC boosted its stake in Northrop Grumman by 30,736.5% during the second quarter. Thoroughbred Financial Services LLC now owns 785,405 shares of the aerospace company’s stock valued at $78,540,000 after buying an additional 782,858 shares during the period. Invesco Ltd. boosted its stake in Northrop Grumman by 93.9% during the second quarter. Invesco Ltd. now owns 1,049,863 shares of the aerospace company’s stock valued at $339,222,000 after buying an additional 508,554 shares during the period. Putnam Investments LLC lifted its stake in Northrop Grumman by 30.7% during the second quarter. Putnam Investments LLC now owns 1,444,136 shares of the aerospace company’s stock worth $466,615,000 after purchasing an additional 339,169 shares during the last quarter. Finally, Suvretta Capital Management LLC bought a new stake in Northrop Grumman during the second quarter worth about $73,898,000. 83.16% of the stock is owned by institutional investors.

In other news, VP Christopher T. Jones sold 5,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $353.19, for a total value of $1,765,950.00. Following the completion of the sale, the vice president now owns 67,422 shares of the company’s stock, valued at approximately $23,812,776.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 6,837 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $353.46, for a total value of $2,416,606.02. Following the completion of the sale, the chief executive officer now directly owns 99,002 shares of the company’s stock, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price target on Northrop Grumman from $418.00 to $437.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Credit Suisse Group lifted their price target on Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $405.00 price target (up previously from $355.00) on shares of Northrop Grumman in a research note on Thursday, July 25th. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 price target for the company in a research note on Tuesday, September 10th. Finally, Barclays set a $415.00 price target on Northrop Grumman and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Northrop Grumman presently has a consensus rating of “Buy” and a consensus price target of $353.87.

Shares of NYSE NOC traded up $2.99 during midday trading on Tuesday, reaching $353.38. The company had a trading volume of 794,875 shares, compared to its average volume of 1,073,692. Northrop Grumman Co. has a one year low of $223.63 and a one year high of $383.89. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62. The firm’s fifty day moving average price is $366.25 and its 200-day moving average price is $330.88. The stock has a market cap of $59.16 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.43 and a beta of 0.80.

Northrop Grumman (NYSE:NOC) last released its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, beating analysts’ consensus estimates of $4.64 by $0.42. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.41 billion. During the same quarter in the previous year, the company posted $4.50 EPS. Northrop Grumman’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, equities research analysts expect that Northrop Grumman Co. will post 19.63 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, September 6th. Northrop Grumman’s dividend payout ratio (DPR) is presently 24.75%.

Northrop Grumman Company Profile

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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

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