Steward Partners Investment Advisory LLC bought a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,685 shares of the aerospace company’s stock, valued at approximately $1,060,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Northrop Grumman by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,956,906 shares of the aerospace company’s stock worth $3,326,168,000 after acquiring an additional 192,667 shares in the last quarter. BlackRock Inc. lifted its stake in Northrop Grumman by 0.9% during the 2nd quarter. BlackRock Inc. now owns 12,884,929 shares of the aerospace company’s stock worth $3,307,687,000 after acquiring an additional 109,532 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Northrop Grumman by 4.8% during the 2nd quarter. Alliancebernstein L.P. now owns 3,300,832 shares of the aerospace company’s stock worth $847,357,000 after acquiring an additional 151,154 shares in the last quarter. Janus Henderson Group PLC lifted its stake in 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 acquiring an additional 9,159 shares in the last quarter. Finally, Capital International Investors raised its position 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 valued at $654,542,000 after purchasing an additional 516,427 shares in the last quarter. 81.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on NOC shares. Goldman Sachs Group reaffirmed a “conviction-buy” rating and issued a $309.00 price target on shares of Northrop Grumman in a research report on Wednesday, August 23rd. Cowen reaffirmed a “hold” rating and issued a $275.00 price target on shares of Northrop Grumman in a research report on Thursday, August 24th. Royal Bank of Canada set a $294.00 price target on Northrop Grumman and gave the company a “buy” rating in a research report on Tuesday, August 29th. Zacks Investment Research lowered Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Finally, Vertical Research reaffirmed a “buy” rating and issued a $296.00 price target (up previously from $280.00) on shares of Northrop Grumman in a research report on Wednesday, September 20th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Northrop Grumman has an average rating of “Buy” and an average price target of $298.67.
Northrop Grumman Co. (NYSE NOC) opened at $310.47 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.05. Northrop Grumman Co. has a 1-year low of $223.88 and a 1-year high of $311.15. The company has a market capitalization of $53,426.43, a PE ratio of 23.39, a PEG ratio of 3.09 and a beta of 0.69.
Northrop Grumman (NYSE:NOC) last released its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.76. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The firm had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the previous year, the business earned $3.35 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. sell-side analysts forecast that Northrop Grumman Co. will post 13.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Friday, December 1st. Northrop Grumman’s dividend payout ratio is presently 29.81%.
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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