Atlantic Trust Group LLC increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,433 shares of the aerospace company’s stock after buying an additional 1,506 shares during the period. Atlantic Trust Group LLC’s holdings in Northrop Grumman were worth $4,153,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its stake in Northrop Grumman by 4.1% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 644,100 shares of the aerospace company’s stock valued at $185,320,000 after purchasing an additional 25,490 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at $1,060,000. Public Employees Retirement System of Ohio raised its stake in Northrop Grumman by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 111,923 shares of the aerospace company’s stock valued at $32,202,000 after purchasing an additional 859 shares during the last quarter. Smith Shellnut Wilson LLC ADV raised its stake in Northrop Grumman by 35.8% during the 3rd quarter. Smith Shellnut Wilson LLC ADV now owns 1,244 shares of the aerospace company’s stock valued at $358,000 after purchasing an additional 328 shares during the last quarter. Finally, Gofen & Glossberg LLC IL raised its stake in Northrop Grumman by 3.5% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 8,902 shares of the aerospace company’s stock valued at $2,561,000 after purchasing an additional 300 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.
In other news, COO Gloria A. Flach sold 7,741 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $296.45, for a total value of $2,294,819.45. Following the sale, the chief operating officer now owns 77,200 shares of the company’s stock, valued at approximately $22,885,940. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Denise M. Peppard sold 2,328 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $300.86, for a total transaction of $700,402.08. Following the completion of the sale, the vice president now directly owns 28,553 shares in the company, valued at approximately $8,590,455.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,417 shares of company stock worth $6,365,189. 0.70% of the stock is owned by insiders.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.76. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The business had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the firm earned $3.35 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. research analysts expect that Northrop Grumman Co. will post 13.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, December 1st. Northrop Grumman’s payout ratio is 29.81%.
NOC has been the subject of several research analyst reports. 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. 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. Cowen reiterated a “hold” rating and set a $300.00 target price (up from $275.00) on shares of Northrop Grumman in a research note on Thursday, October 26th. Zacks Investment Research cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Finally, Stifel Nicolaus upped their target price on shares of Northrop Grumman from $255.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $298.67.
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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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