Pacer Advisors Inc. boosted its stake in Northrop Grumman Corporation (NYSE:NOC) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,516 shares of the aerospace company’s stock after purchasing an additional 429 shares during the quarter. Pacer Advisors Inc.’s holdings in Northrop Grumman were worth $1,299,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of NOC. Janus Henderson Group PLC increased its holdings in shares of Northrop Grumman by 41,518.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock worth $749,585,000 after buying an additional 2,912,953 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth about $198,126,000. HPM Partners LLC increased its holdings in shares of Northrop Grumman by 23,412.0% in the 2nd quarter. HPM Partners LLC now owns 292,019 shares of the aerospace company’s stock worth $28,387,000 after buying an additional 290,777 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Northrop Grumman by 25.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,245,400 shares of the aerospace company’s stock worth $319,707,000 after buying an additional 256,200 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Northrop Grumman in the 2nd quarter worth about $59,566,000. Hedge funds and other institutional investors own 81.33% of the company’s stock.
In related news, VP Denise M. Peppard sold 2,328 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $300.86, for a total transaction of $700,402.08. Following the completion of the sale, the vice president now owns 28,553 shares of the company’s stock, valued at $8,590,455.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Denise M. Peppard sold 5,037 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $295.67, for a total transaction of $1,489,289.79. Following the sale, the vice president now directly owns 58,186 shares of the company’s stock, valued at approximately $17,203,854.62. 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 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.
Shares of Northrop Grumman Corporation (NOC) traded up $2.48 during mid-day trading on Thursday, reaching $302.68. 655,065 shares of the company’s stock were exchanged, compared to its average volume of 781,130. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.05. The company has a market cap of $51,831.87, a P/E ratio of 22.69, a P/E/G ratio of 3.00 and a beta of 0.69. Northrop Grumman Corporation has a twelve month low of $220.72 and a twelve month high of $309.76.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.76. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The firm had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the prior year, the company earned $3.35 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. analysts expect that Northrop Grumman Corporation will post 13.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be given a $1.00 dividend. The ex-dividend date is Friday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 1.32%. Northrop Grumman’s payout ratio is presently 29.81%.
Several equities analysts recently commented on NOC shares. Bank of America set a $350.00 price target on shares of Northrop Grumman and gave the company a “buy” rating in a report on Friday, October 27th. Royal Bank Of Canada set a $374.00 price target on shares of Northrop Grumman and gave the company a “buy” rating in a report on Thursday, November 16th. Cowen reiterated a “hold” rating and set a $300.00 price target (up from $275.00) on shares of Northrop Grumman in a report on Thursday, October 26th. Zacks Investment Research downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Finally, Stifel Nicolaus upped their price target on shares of Northrop Grumman from $255.00 to $300.00 and gave the company a “hold” rating in a report on Friday, October 27th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $294.65.
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About Northrop Grumman
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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