Creative Planning trimmed its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,285 shares of the aerospace company’s stock after selling 3,706 shares during the period. Creative Planning’s holdings in Northrop Grumman were worth $4,384,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of NOC. Janus Henderson Group PLC raised its position in shares of Northrop Grumman by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,929,128 shares of the aerospace company’s stock worth $842,768,000 after purchasing an additional 9,159 shares during the last quarter. Capital International Investors grew its stake in Northrop Grumman by 29.4% in the 3rd quarter. Capital International Investors now owns 2,274,928 shares of the aerospace company’s stock worth $654,542,000 after acquiring an additional 516,427 shares during the period. Renaissance Technologies LLC grew its stake in 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 acquiring an additional 256,200 shares during the period. Legal & General Group Plc grew its stake in Northrop Grumman by 1.1% in the 3rd quarter. Legal & General Group Plc now owns 880,614 shares of the aerospace company’s stock worth $253,337,000 after acquiring an additional 9,729 shares during the period. Finally, Swiss National Bank grew its stake in Northrop Grumman by 0.8% in the 3rd quarter. Swiss National Bank now owns 702,884 shares of the aerospace company’s stock worth $202,234,000 after acquiring an additional 5,700 shares during the period. Institutional investors own 80.56% of the company’s stock.
Shares of Northrop Grumman Co. (NOC) traded up $4.75 during trading hours on Monday, hitting $337.44. 1,280,000 shares of the company were exchanged, compared to its average volume of 1,000,000. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 2.04. Northrop Grumman Co. has a twelve month low of $233.20 and a twelve month high of $349.18. The company has a market cap of $58,740.00, a P/E ratio of 29.42, a PEG ratio of 2.40 and a beta of 0.82.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $0.07. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the prior year, the firm earned $2.96 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. analysts expect that Northrop Grumman Co. will post 15.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Monday, March 5th will be given a $1.10 dividend. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $4.40 annualized dividend and a yield of 1.30%. Northrop Grumman’s dividend payout ratio is 34.87%.
Several analysts have commented on the stock. Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $324.00 to $347.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Goldman Sachs Group set a $320.00 price objective on shares of Northrop Grumman and gave the company a “buy” rating in a research note on Thursday, October 26th. Cowen reissued a “hold” rating and set a $300.00 price objective (up from $275.00) on shares of Northrop Grumman in a research note on Thursday, October 26th. Stifel Nicolaus upped 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. Finally, Bank of America set a $350.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a research report on Friday, October 27th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $317.47.
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Northrop Grumman 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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