Mutual of America Capital Management LLC Sells 309 Shares of Northrop Grumman Corporation $NOC

Mutual of America Capital Management LLC cut its holdings in Northrop Grumman Corporation (NYSE:NOC) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,493 shares of the aerospace company’s stock after selling 309 shares during the period. Mutual of America Capital Management LLC’s holdings in Northrop Grumman were worth $7,746,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Northrop Grumman by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company’s stock valued at $6,792,479,000 after purchasing an additional 588,520 shares during the last quarter. Wellington Management Group LLP lifted its position in Northrop Grumman by 23.4% during the first quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company’s stock valued at $2,631,390,000 after acquiring an additional 974,633 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Northrop Grumman by 10.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,241,144 shares of the aerospace company’s stock valued at $1,147,489,000 after acquiring an additional 210,500 shares during the last quarter. Invesco Ltd. increased its stake in Northrop Grumman by 12.1% during the 1st quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company’s stock valued at $995,443,000 after purchasing an additional 210,506 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Northrop Grumman by 12.0% during the 1st quarter. Royal Bank of Canada now owns 1,115,625 shares of the aerospace company’s stock valued at $571,211,000 after purchasing an additional 119,693 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Performance

Shares of NOC opened at $601.92 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a market capitalization of $86.18 billion, a P/E ratio of 22.19, a P/E/G ratio of 5.78 and a beta of 0.10. The company’s fifty day moving average is $592.91 and its two-hundred day moving average is $538.16. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $640.90.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.84 by $0.27. The company had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. Northrop Grumman’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.36 EPS. On average, sell-side analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were paid a $2.31 dividend. This represents a $9.24 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Northrop Grumman’s payout ratio is currently 34.06%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company reissued an “overweight” rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Barclays lifted their price target on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Wall Street Zen upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Truist Financial lifted their price target on shares of Northrop Grumman from $625.00 to $688.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Robert W. Baird boosted their price objective on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus target price of $617.50.

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.