Ameritas Investment Partners Inc. Sells 36 Shares of Northrop Grumman Co. (NYSE:NOC)

Ameritas Investment Partners Inc. reduced its position in shares of Northrop Grumman Co. (NYSE:NOC) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,932 shares of the aerospace company’s stock after selling 36 shares during the period. Ameritas Investment Partners Inc.’s holdings in Northrop Grumman were worth $2,586,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Optimum Investment Advisors lifted its position in shares of Northrop Grumman by 241.2% during the 2nd 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 stake in Northrop Grumman during the second quarter worth $28,000. Meeder Asset Management Inc. boosted its position in Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares during the last quarter. Rise Advisors LLC bought a new position in Northrop Grumman in the 1st quarter valued at $38,000. Finally, Riverview Trust Co purchased a new stake in shares of Northrop Grumman during the 1st quarter valued at $47,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Barclays increased their price objective on Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Jefferies Financial Group lowered their target price on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research note on Tuesday, June 18th. Finally, TD Cowen increased their price target on Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. One equities research 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. Based on data from MarketBeat.com, Northrop Grumman has a consensus rating of “Hold” and an average target price of $523.20.

Northrop Grumman Stock Performance

Northrop Grumman stock opened at $525.13 on Friday. Northrop Grumman Co. has a 1-year low of $414.56 and a 1-year high of $528.76. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $77.71 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 2.36 and a beta of 0.34. The firm’s 50 day simple moving average is $496.06 and its 200 day simple moving average is $469.78.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $10.02 billion. During the same quarter last year, the business posted $5.34 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. As a group, analysts expect that Northrop Grumman Co. will post 25.14 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. This represents a $8.24 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 57.62%.

Insider Buying and Selling

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