Wealth Enhancement Advisory Services LLC acquired a new position in Northrop Grumman Co. (NYSE:NOC) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,128 shares of the aerospace company’s stock, valued at approximately $3,192,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Thrivent Financial For Lutherans grew its holdings in shares of Northrop Grumman by 2.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 6,838 shares of the aerospace company’s stock worth $1,756,000 after acquiring an additional 160 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Northrop Grumman in the 2nd quarter worth $744,000. D.A. Davidson & CO. grew its holdings in shares of Northrop Grumman by 507.2% in the 2nd quarter. D.A. Davidson & CO. now owns 9,175 shares of the aerospace company’s stock worth $2,355,000 after acquiring an additional 7,664 shares during the last quarter. Public Sector Pension investment Board grew its holdings in shares of Northrop Grumman by 9.5% in the 2nd quarter. Public Sector Pension investment Board now owns 82,954 shares of the aerospace company’s stock worth $21,295,000 after acquiring an additional 7,200 shares during the last quarter. Finally, TIAA FSB acquired a new position in shares of Northrop Grumman in the 2nd quarter worth $8,683,000. 81.22% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on NOC. Wells Fargo & Co upgraded Northrop Grumman from a “market perform” rating to an “outperform” rating in a report on Tuesday. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $347.00 target price on the stock in a report on Friday, January 12th. Stifel Nicolaus restated a “hold” rating and issued a $315.00 target price on shares of Northrop Grumman in a report on Tuesday, January 9th. ValuEngine upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Cowen restated a “hold” rating and issued a $300.00 target price (up from $275.00) on shares of Northrop Grumman in a report on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Northrop Grumman has an average rating of “Buy” and an average price target of $302.21.
In related news, VP Sid Ashworth sold 6,311 shares of Northrop Grumman stock in a transaction on Friday, October 27th. The stock was sold at an average price of $298.00, for a total transaction of $1,880,678.00. Following the completion of the sale, the vice president now owns 63,147 shares of the company’s stock, valued at $18,817,806. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Gloria A. Flach sold 7,741 shares of Northrop Grumman stock in a transaction 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 sale, the chief operating officer now directly owns 77,200 shares of the company’s stock, valued at approximately $22,885,940. The disclosure for this sale can be found here. Insiders have sold 21,417 shares of company stock worth $6,365,189 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.
Shares of Northrop Grumman Co. (NYSE NOC) traded up $2.07 during mid-day trading on Friday, hitting $316.37. The stock had a trading volume of 872,851 shares, compared to its average volume of 680,923. Northrop Grumman Co. has a twelve month low of $223.88 and a twelve month high of $318.70. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $55,070.00, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.76. Northrop Grumman had a return on equity of 39.76% and a net margin of 9.24%. The business 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 posted $3.35 earnings per share. Northrop Grumman’s revenue for the quarter was up 6.0% compared to the same quarter last year. analysts anticipate that Northrop Grumman Co. will post 13.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 1st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.26%. Northrop Grumman’s dividend payout ratio is 29.81%.
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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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