TIAA CREF Investment Management LLC cut its stake in Northrop Grumman Co. (NYSE:NOC) by 23.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,097,048 shares of the aerospace company’s stock after selling 340,002 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in Northrop Grumman were worth $336,695,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in NOC. Ibex Wealth Advisors boosted its position in Northrop Grumman by 2.1% during the fourth quarter. Ibex Wealth Advisors now owns 7,330 shares of the aerospace company’s stock valued at $2,259,000 after buying an additional 153 shares during the period. Clifford Swan Investment Counsel LLC boosted its position in Northrop Grumman by 0.6% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 26,398 shares of the aerospace company’s stock valued at $8,102,000 after buying an additional 165 shares during the period. Monroe Bank & Trust MI boosted its position in Northrop Grumman by 16.1% during the third quarter. Monroe Bank & Trust MI now owns 1,205 shares of the aerospace company’s stock valued at $280,000 after buying an additional 167 shares during the period. Hanseatic Management Services Inc. boosted its position in Northrop Grumman by 39.7% during the third quarter. Hanseatic Management Services Inc. now owns 591 shares of the aerospace company’s stock valued at $170,000 after buying an additional 168 shares during the period. Finally, BB&T Securities LLC boosted its position in Northrop Grumman by 2.4% during the third quarter. BB&T Securities LLC now owns 7,147 shares of the aerospace company’s stock valued at $2,056,000 after buying an additional 169 shares during the period. Institutional investors own 80.69% of the company’s stock.
In related news, VP Michael A. Hardesty sold 2,941 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $351.06, for a total value of $1,032,467.46. Following the completion of the transaction, the vice president now directly owns 9,202 shares of the company’s stock, valued at $3,230,454.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Janis G. Pamiljans sold 1,568 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $354.30, for a total transaction of $555,542.40. Following the completion of the transaction, the vice president now directly owns 6,677 shares of the company’s stock, valued at $2,365,661.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,344 shares of company stock valued at $2,896,627. 0.70% of the stock is currently owned by company insiders.
Shares of Northrop Grumman Co. (NYSE NOC) opened at $344.33 on Wednesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.24 and a current ratio of 2.35. The firm has a market cap of $60,011.48, a PE ratio of 30.02, a PEG ratio of 2.47 and a beta of 0.78. Northrop Grumman Co. has a 1-year low of $233.20 and a 1-year high of $359.43.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.07. The company had revenue of $6.63 billion during the quarter, compared to analyst estimates of $6.34 billion. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. Northrop Grumman’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.96 earnings per share. research analysts predict that Northrop Grumman Co. will post 15.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, March 5th will be issued a dividend of $1.10 per share. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, March 2nd. Northrop Grumman’s dividend payout ratio is currently 38.36%.
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Northrop Grumman Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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