Welch & Forbes LLC Acquires 175 Shares of Northrop Grumman Co. (NYSE:NOC)

Welch & Forbes LLC lifted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,456 shares of the aerospace company’s stock after acquiring an additional 175 shares during the period. Welch & Forbes LLC’s holdings in Northrop Grumman were worth $3,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Burns J W & Co. Inc. NY bought a new stake in shares of Northrop Grumman during the 3rd quarter worth approximately $230,000. Abner Herrman & Brock LLC lifted its holdings in shares of Northrop Grumman by 315.5% during the 3rd quarter. Abner Herrman & Brock LLC now owns 9,383 shares of the aerospace company’s stock worth $3,517,000 after acquiring an additional 7,125 shares during the period. Intellectus Partners LLC lifted its holdings in shares of Northrop Grumman by 4.4% during the 3rd quarter. Intellectus Partners LLC now owns 2,591 shares of the aerospace company’s stock worth $971,000 after acquiring an additional 110 shares during the period. Country Trust Bank bought a new stake in shares of Northrop Grumman during the 3rd quarter worth approximately $21,662,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Northrop Grumman by 2.7% during the 3rd quarter. Pacer Advisors Inc. now owns 16,889 shares of the aerospace company’s stock worth $6,330,000 after acquiring an additional 450 shares during the period. 83.09% of the stock is owned by institutional investors.

NOC stock opened at $362.22 on Friday. The company has a 50 day simple moving average of $367.89 and a 200 day simple moving average of $326.44. The stock has a market cap of $62.20 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.51 and a beta of 0.80. Northrop Grumman Co. has a 1 year low of $223.63 and a 1 year high of $383.89. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.64 by $0.42. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.41 billion. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.50 EPS. On average, equities research analysts anticipate that Northrop Grumman Co. will post 19.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th were given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, September 6th. Northrop Grumman’s dividend payout ratio (DPR) is currently 24.75%.

In other Northrop Grumman news, VP Christopher T. Jones sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $353.19, for a total value of $1,765,950.00. Following the completion of the transaction, the vice president now directly owns 67,422 shares in the company, valued at approximately $23,812,776.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 6,837 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the completion of the transaction, the chief executive officer now owns 99,002 shares of the company’s stock, valued at $34,993,246.92. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

NOC has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Northrop Grumman from $418.00 to $437.00 and gave the stock an “overweight” rating in a report on Thursday. Credit Suisse Group upped their price target on shares of Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Barclays set a $415.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird upped their price objective on shares of Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Finally, Bank of America reiterated a “buy” rating and set a $405.00 price objective (up from $355.00) on shares of Northrop Grumman in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Northrop Grumman presently has a consensus rating of “Buy” and an average price target of $353.87.

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.

Read More: Quiet Period Expirations

Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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