Private Advisor Group LLC lifted its holdings in Northrop Grumman Corporation (NYSE:NOC) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,679 shares of the aerospace company’s stock after acquiring an additional 585 shares during the period. Private Advisor Group LLC’s holdings in Northrop Grumman were worth $3,429,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Counselors Inc. boosted its stake in shares of Northrop Grumman by 4.7% in the third quarter. Financial Counselors Inc. now owns 32,460 shares of the aerospace company’s stock worth $9,339,000 after acquiring an additional 1,468 shares during the period. National Planning Corp boosted its stake in shares of Northrop Grumman by 15.5% in the third quarter. National Planning Corp now owns 2,530 shares of the aerospace company’s stock worth $736,000 after acquiring an additional 339 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD. bought a new position in shares of Northrop Grumman in the third quarter worth about $6,497,000. Stifel Financial Corp boosted its stake in shares of Northrop Grumman by 2.9% in the third quarter. Stifel Financial Corp now owns 160,929 shares of the aerospace company’s stock worth $46,311,000 after acquiring an additional 4,602 shares during the period. Finally, Tredje AP fonden boosted its stake in shares of Northrop Grumman by 3.9% in the third quarter. Tredje AP fonden now owns 38,675 shares of the aerospace company’s stock worth $11,128,000 after acquiring an additional 1,440 shares during the period. 81.33% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Vertical Research reaffirmed a “buy” rating and issued a $296.00 price objective (up previously from $280.00) on shares of Northrop Grumman in a research note on Wednesday, September 20th. Deutsche Bank reaffirmed a “buy” rating and issued a $325.00 price objective (up previously from $285.00) on shares of Northrop Grumman in a research note on Monday, October 2nd. Royal Bank Of Canada increased their price target on Northrop Grumman from $324.00 to $347.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Cowen reissued a “hold” rating and set a $275.00 price target on shares of Northrop Grumman in a research note on Thursday, August 24th. Finally, Morgan Stanley began coverage on Northrop Grumman in a research note on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price target for the company. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $294.65.
In other news, VP Denise M. Peppard sold 5,037 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $295.67, for a total value of $1,489,289.79. Following the completion of the sale, the vice president now directly owns 58,186 shares of the company’s stock, valued at approximately $17,203,854.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gloria A. Flach sold 7,741 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $296.45, for a total value of $2,294,819.45. Following the completion of the sale, the chief operating officer now directly owns 77,200 shares of the company’s stock, valued at $22,885,940. The disclosure for this sale can be found here. Insiders sold a total of 21,417 shares of company stock valued at $6,365,189 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.
Northrop Grumman Corporation (NYSE NOC) traded up $0.93 during trading hours on Tuesday, hitting $300.56. The stock had a trading volume of 1,181,000 shares, compared to its average volume of 783,164. The company has a market cap of $52,159.14, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 3.01 and a beta of 0.69. Northrop Grumman Corporation has a 1-year low of $220.72 and a 1-year high of $309.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.05.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.76. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.33 billion. Northrop Grumman had a return on equity of 39.76% and a net margin of 9.24%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the company earned $3.35 EPS. analysts expect that Northrop Grumman Corporation will post 13.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, December 1st. Northrop Grumman’s payout ratio is 29.81%.
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Northrop Grumman Company 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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