MRP Capital Investments LLC Decreases Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

MRP Capital Investments LLC reduced its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,292 shares of the aerospace company’s stock after selling 285 shares during the quarter. Northrop Grumman accounts for approximately 1.3% of MRP Capital Investments LLC’s portfolio, making the stock its 24th largest holding. MRP Capital Investments LLC’s holdings in Northrop Grumman were worth $1,435,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors boosted its position in 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 purchasing an additional 621,636 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Northrop Grumman by 1,915.9% in the 2nd quarter. Van ECK Associates Corp now owns 438,521 shares of the aerospace company’s stock worth $191,173,000 after buying an additional 416,768 shares in the last quarter. Focused Investors Fund L P purchased a new stake in shares of Northrop Grumman in the 1st quarter worth about $108,369,000. JPMorgan Chase & Co. grew its stake in Northrop Grumman by 4.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock valued at $2,218,132,000 after acquiring an additional 211,459 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in Northrop Grumman during the 4th quarter valued at about $97,866,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Up 0.2 %

Shares of NYSE NOC opened at $521.63 on Thursday. The stock has a market capitalization of $77.20 billion, a PE ratio of 36.48, a P/E/G ratio of 2.36 and a beta of 0.34. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average of $492.39 and a 200-day moving average of $468.88. Northrop Grumman Co. has a 52-week low of $414.56 and a 52-week high of $528.76.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The firm had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.34 earnings per share. On average, analysts anticipate that Northrop Grumman Co. will post 25.14 EPS for the current 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 given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 57.62%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOC. Barclays upped their price target on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Morgan Stanley increased their target price on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Wells Fargo & Company boosted their price target on Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. TD Cowen increased their price objective on Northrop Grumman from $440.00 to $515.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, UBS Group boosted their target price on shares of Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $523.20.

Insider Activity

In related news, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the sale, the vice president now directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,846 shares of company stock valued at $1,393,028. Company 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.