Fluent Financial LLC acquired a new stake in Northrop Grumman Co. (NYSE:NOC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,719 shares of the aerospace company’s stock, valued at approximately $1,623,000.
A number of other institutional investors and hedge funds also recently modified their holdings of NOC. Nuveen Asset Management LLC increased its stake in Northrop Grumman by 32,192.2% during the second quarter. Nuveen Asset Management LLC now owns 1,241,311 shares of the aerospace company’s stock worth $401,079,000 after purchasing an additional 1,237,467 shares during the period. Johanson Financial Advisors Inc. boosted its stake in shares of Northrop Grumman by 34,416.4% in the 4th quarter. Johanson Financial Advisors Inc. now owns 553,298 shares of the aerospace company’s stock valued at $1,609,000 after purchasing an additional 551,695 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Northrop Grumman by 93.9% in the 2nd quarter. Invesco Ltd. now owns 1,049,863 shares of the aerospace company’s stock valued at $339,222,000 after purchasing an additional 508,554 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Northrop Grumman by 4,367.2% in the 3rd quarter. Millennium Management LLC now owns 132,944 shares of the aerospace company’s stock valued at $49,826,000 after purchasing an additional 129,968 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Northrop Grumman in the 3rd quarter valued at $46,550,000. Hedge funds and other institutional investors own 82.77% of the company’s stock.
NYSE NOC traded down $3.13 during trading hours on Friday, reaching $380.65. 12,003 shares of the company’s stock were exchanged, compared to its average volume of 1,140,421. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.19 and a current ratio of 1.29. The company has a market capitalization of $63.14 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76. The company’s 50-day moving average is $354.37 and its two-hundred day moving average is $354.09. Northrop Grumman Co. has a one year low of $254.56 and a one year high of $384.61.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $5.49 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.75. The company had revenue of $8.48 billion for the quarter, compared to analyst estimates of $8.56 billion. Northrop Grumman had a return on equity of 39.12% and a net margin of 9.05%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $6.54 earnings per share. Research analysts predict that Northrop Grumman Co. will post 20.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $1.32 dividend. The ex-dividend date was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.39%. Northrop Grumman’s dividend payout ratio (DPR) is presently 24.75%.
A number of research analysts recently issued reports on the company. Barclays set a $415.00 price target on Northrop Grumman and gave the company a “buy” rating in a report on Tuesday, October 8th. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $367.00 price target for the company in a report on Monday, December 30th. ValuEngine raised Northrop Grumman from a “strong sell” rating to a “sell” rating in a report on Friday, January 3rd. UBS Group lifted their price target on Northrop Grumman from $385.00 to $410.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley lifted their price target on Northrop Grumman from $437.00 to $449.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $375.45.
About Northrop Grumman
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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