Asahi Life Asset Management CO. LTD. Has $462,000 Holdings in Northrop Grumman Co. (NYSE:NOC)

by · The Cerbat Gem

Asahi Life Asset Management CO. LTD. lowered its stake in Northrop Grumman Co. (NYSE:NOC – Free Report) by 11.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 875 shares of the aerospace company’s stock after selling 115 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Northrop Grumman were worth $462,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NOC. Capital International Investors increased its holdings in shares of Northrop Grumman by 5.6% during the first quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock worth $5,623,128,000 after buying an additional 621,636 shares in the last quarter. JPMorgan Chase & Co. grew its position in Northrop Grumman by 4.8% during the 1st quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock worth $2,218,132,000 after acquiring an additional 211,459 shares during the last quarter. Capital World Investors increased its holdings in Northrop Grumman by 0.6% in the 1st quarter. Capital World Investors now owns 3,688,511 shares of the aerospace company’s stock worth $1,765,543,000 after purchasing an additional 23,398 shares in the last quarter. Legal & General Group Plc raised its position in Northrop Grumman by 16.0% in the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after purchasing an additional 150,367 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Northrop Grumman by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 683,427 shares of the aerospace company’s stock valued at $297,937,000 after purchasing an additional 125,262 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of research reports. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Morgan Stanley raised their target price on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Royal Bank of Canada raised their price objective on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Barclays increased their target price on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Northrop Grumman presently has an average rating of “Hold” and an average target price of $547.44.

Get Our Latest Stock Report on Northrop Grumman

Northrop Grumman Stock Down 0.9 %

NOC stock traded down $4.84 during trading on Monday, reaching $514.51. 82,596 shares of the stock were exchanged, compared to its average volume of 869,812. The firm’s 50 day moving average is $523.54 and its 200 day moving average is $481.38. The firm has a market cap of $76.14 billion, a P/E ratio of 36.32, a price-to-earnings-growth ratio of 2.38 and a beta of 0.34. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57.

Northrop Grumman (NYSE:NOC – Get Free Report) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same period in the prior year, the firm earned $6.18 earnings per share. Northrop Grumman’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts forecast that Northrop Grumman Co. will post 25.16 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is presently 57.62%.

Insider Buying and Selling

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,490 shares of company stock worth $747,372 in the last quarter. Insiders own 0.22% of the company’s stock.

Northrop Grumman Profile

(Free Report)

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.

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