Ferguson Wellman Capital Management Inc. lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,236 shares of the aerospace company’s stock after selling 65 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Northrop Grumman were worth $303,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Capital International Investors lifted its position in Northrop Grumman by 67.0% during the third quarter. Capital International Investors now owns 4,525,421 shares of the aerospace company’s stock worth $1,436,233,000 after purchasing an additional 1,816,321 shares during the period. Capital World Investors raised its stake in Northrop Grumman by 40.4% during the third quarter. Capital World Investors now owns 4,751,070 shares of the aerospace company’s stock worth $1,507,847,000 after acquiring an additional 1,367,045 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Northrop Grumman by 15.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,716,917 shares of the aerospace company’s stock worth $1,497,008,000 after acquiring an additional 614,356 shares in the last quarter. Macquarie Group Ltd. raised its stake in Northrop Grumman by 10.1% during the third quarter. Macquarie Group Ltd. now owns 2,399,262 shares of the aerospace company’s stock worth $761,454,000 after acquiring an additional 221,020 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Northrop Grumman by 200.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 270,000 shares of the aerospace company’s stock worth $85,690,000 after acquiring an additional 180,000 shares in the last quarter. 82.77% of the stock is owned by institutional investors.
Several research analysts have commented on the company. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 target price for the company in a research note on Thursday, October 11th. Wells Fargo & Co lowered their target price on Northrop Grumman from $360.00 to $340.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. ValuEngine raised Northrop Grumman from a “sell” rating to a “hold” rating in a research note on Saturday, November 10th. Stifel Nicolaus set a $280.00 target price on Northrop Grumman and gave the stock a “hold” rating in a research note on Thursday, October 25th. Finally, Morgan Stanley lowered their target price on Northrop Grumman from $346.00 to $318.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $341.00.
NYSE:NOC opened at $267.75 on Friday. The company has a market cap of $45.85 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 0.93 and a beta of 0.81. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.17. Northrop Grumman Co. has a fifty-two week low of $223.63 and a fifty-two week high of $360.88.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share for the quarter, beating the consensus estimate of $4.35 by $2.19. The company had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. Northrop Grumman’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.67 EPS. On average, sell-side analysts expect that Northrop Grumman Co. will post 19.08 EPS for the current year.
Northrop Grumman announced that its board has authorized a stock repurchase plan on Tuesday, December 4th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, Chairman Wesley G. Bush sold 10,000 shares of Northrop Grumman stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $274.73, for a total value of $2,747,300.00. Following the completion of the sale, the chairman now owns 9,600 shares in the company, valued at approximately $2,637,408. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shawn N. Purvis sold 807 shares of Northrop Grumman stock in a transaction on Monday, November 5th. The shares were sold at an average price of $280.00, for a total transaction of $225,960.00. Following the completion of the sale, the vice president now owns 3,519 shares of the company’s stock, valued at approximately $985,320. The disclosure for this sale can be found here. Insiders sold a total of 16,530 shares of company stock valued at $4,588,557 in the last quarter. 0.62% of the stock is currently owned by company insiders.
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About Northrop Grumman
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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