Global X Management Co. LLC boosted its stake in Northrop Grumman Co. (NYSE:NOC) by 34.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,170 shares of the aerospace company’s stock after acquiring an additional 298 shares during the period. Global X Management Co. LLC’s holdings in Northrop Grumman were worth $359,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. USS Investment Management Ltd raised its holdings in Northrop Grumman by 7.0% in the third quarter. USS Investment Management Ltd now owns 27,500 shares of the aerospace company’s stock valued at $7,911,000 after acquiring an additional 1,800 shares in the last quarter. Wright Investors Service Inc. raised its holdings in Northrop Grumman by 12.9% in the fourth quarter. Wright Investors Service Inc. now owns 8,865 shares of the aerospace company’s stock valued at $2,721,000 after acquiring an additional 1,014 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Northrop Grumman in the third quarter valued at $3,433,000. Breton Hill Capital Ltd. raised its holdings in Northrop Grumman by 58.7% in the third quarter. Breton Hill Capital Ltd. now owns 1,904 shares of the aerospace company’s stock valued at $548,000 after acquiring an additional 704 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Northrop Grumman by 6.3% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,529 shares of the aerospace company’s stock valued at $11,949,000 after purchasing an additional 2,473 shares during the last quarter. 81.18% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on NOC shares. Zacks Investment Research lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Bank of America set a $350.00 target price on shares of Northrop Grumman and gave the company a “buy” rating in a research note on Friday, October 27th. ValuEngine upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. JPMorgan Chase & Co. upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $317.00 to $355.00 in a research note on Tuesday, December 12th. Finally, Royal Bank of Canada set a $374.00 target price on shares of Northrop Grumman and gave the company a “buy” rating in a research note on Thursday, November 16th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $336.94.
Northrop Grumman Co. (NYSE NOC) opened at $351.51 on Friday. The company has a market cap of $61,190.00, a PE ratio of 26.67, a PEG ratio of 2.52 and a beta of 0.82. 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 12-month low of $233.20 and a 12-month high of $358.84.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.75 by $0.07. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates of $6.34 billion. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.96 earnings per share. research analysts expect that Northrop Grumman Co. will post 15.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, March 5th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $4.40 annualized dividend and a dividend yield of 1.25%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio is currently 30.35%.
In other news, VP Michael A. Hardesty sold 2,941 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $351.06, for a total transaction of $1,032,467.46. Following the completion of the transaction, the vice president now owns 9,202 shares in the company, valued at $3,230,454.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Denise M. Peppard sold 2,539 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $335.12, for a total transaction of $850,869.68. Following the completion of the transaction, the vice president now owns 38,613 shares of the company’s stock, valued at approximately $12,939,988.56. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
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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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