Aureus Asset Management LLC decreased its holdings in Northrop Grumman Corporation (NYSE:NOC) by 27.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,459 shares of the aerospace company’s stock after selling 1,300 shares during the quarter. Aureus Asset Management LLC’s holdings in Northrop Grumman were worth $995,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Hanseatic Management Services Inc. lifted its position in Northrop Grumman by 12.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after acquiring an additional 48 shares during the period. First Personal Financial Services lifted its position in Northrop Grumman by 39.0% during the 2nd quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after acquiring an additional 121 shares during the period. Pittenger & Anderson Inc. lifted its position in Northrop Grumman by 28.6% during the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after acquiring an additional 100 shares during the period. People s United Financial Inc. lifted its position in Northrop Grumman by 9.2% during the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after acquiring an additional 40 shares during the period. Finally, Ropes Wealth Advisors LLC acquired a new stake in Northrop Grumman during the 3rd quarter worth about $144,000. 81.33% of the stock is owned by hedge funds and other institutional investors.
Northrop Grumman Corporation (NYSE NOC) traded up $0.93 during midday trading on Tuesday, hitting $300.56. The company’s stock had a trading volume of 1,181,000 shares, compared to its average volume of 783,164. The stock has a market cap of $52,159.14, a price-to-earnings ratio of 22.84, a P/E/G ratio of 3.01 and a beta of 0.69. Northrop Grumman Corporation has a twelve month low of $220.72 and a twelve month high of $309.76. 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 (NYSE:NOC) last released its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.76. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.33 billion. Northrop Grumman had a return on equity of 39.76% and a net margin of 9.24%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $3.35 EPS. sell-side analysts expect that Northrop Grumman Corporation will post 13.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 4th will be paid a $1.00 dividend. The ex-dividend date is Friday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 1.33%. Northrop Grumman’s dividend payout ratio is presently 29.81%.
In related news, VP Sid Ashworth sold 6,311 shares of Northrop Grumman stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $298.00, for a total value of $1,880,678.00. Following the completion of the transaction, the vice president now owns 63,147 shares in the company, valued at approximately $18,817,806. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Denise M. Peppard sold 2,328 shares of Northrop Grumman stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $300.86, for a total value of $700,402.08. Following the completion of the transaction, the vice president now owns 28,553 shares of the company’s stock, valued at approximately $8,590,455.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,417 shares of company stock valued at $6,365,189. 0.70% of the stock is owned by company insiders.
NOC has been the subject of a number of research reports. Cowen reaffirmed a “hold” rating and set a $300.00 price target (up previously from $275.00) on shares of Northrop Grumman in a research report on Thursday, October 26th. Royal Bank Of Canada set a $374.00 price target on Northrop Grumman and gave the stock a “buy” rating in a research report on Thursday, November 16th. Bank of America set a $350.00 price target on Northrop Grumman and gave the stock a “buy” rating in a research report on Friday, October 27th. Goldman Sachs Group set a $320.00 price target on Northrop Grumman and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, BidaskClub raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Northrop Grumman has an average rating of “Buy” and an average target price of $294.65.
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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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