Nomura Asset Management Co. Ltd. lifted its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,922 shares of the aerospace company’s stock after purchasing an additional 1,147 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Northrop Grumman were worth $6,307,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in NOC. Hanseatic Management Services Inc. grew its holdings in Northrop Grumman by 12.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after acquiring an additional 48 shares during the last quarter. First Personal Financial Services grew its holdings in Northrop Grumman by 39.0% during the 2nd quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after acquiring an additional 121 shares during the last quarter. Pittenger & Anderson Inc. grew its holdings in Northrop Grumman by 28.6% during the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after acquiring an additional 100 shares during the last quarter. People s United Financial Inc. grew its holdings in Northrop Grumman by 9.2% during the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after acquiring an additional 40 shares during the last quarter. Finally, Ropes Wealth Advisors LLC bought a new stake in Northrop Grumman during the 3rd quarter worth approximately $144,000. 81.33% of the stock is currently owned by institutional investors.
In other Northrop Grumman news, VP Denise M. Peppard sold 5,037 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 58,186 shares in the company, valued at approximately $17,203,854.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Denise M. Peppard sold 2,328 shares of the business’s stock in a transaction 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 sale, the vice president now owns 28,553 shares of the company’s stock, valued at approximately $8,590,455.58. The disclosure for this sale can be found here. Insiders have sold a total of 21,417 shares of company stock valued at $6,365,189 in the last 90 days. 0.70% of the stock is currently owned by company insiders.
Northrop Grumman Corporation (NYSE NOC) traded up $2.48 during trading on Friday, hitting $302.68. 655,000 shares of the company were exchanged, compared to its average volume of 781,130. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. Northrop Grumman Corporation has a 52 week low of $220.72 and a 52 week high of $309.76. The firm has a market cap of $52,258.36, a P/E ratio of 22.88, a PEG ratio of 3.02 and a beta of 0.69.
Northrop Grumman (NYSE:NOC) last released its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the previous year, the company earned $3.35 EPS. Northrop Grumman’s quarterly revenue was up 6.0% compared to the same quarter last year. analysts anticipate 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. Shareholders of record on Monday, December 4th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.32%. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.81%.
NOC has been the topic of a number of research reports. Bank of America set a $350.00 target price on shares of Northrop Grumman and gave the stock 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 stock a “buy” rating in a research report on Thursday, November 16th. Cowen restated a “hold” rating and issued a $300.00 price target (up previously from $275.00) on shares of Northrop Grumman in a research report on Thursday, October 26th. Zacks Investment Research downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Finally, Stifel Nicolaus boosted their price target on shares of Northrop Grumman from $255.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Northrop Grumman presently 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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