AMP Capital Investors Ltd raised its holdings in Northrop Grumman Co. (NYSE:NOC) by 38.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,341 shares of the aerospace company’s stock after purchasing an additional 4,244 shares during the period. AMP Capital Investors Ltd’s holdings in Northrop Grumman were worth $4,414,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Salem Investment Counselors Inc. increased its stake in shares of Northrop Grumman by 1.2% in the second quarter. Salem Investment Counselors Inc. now owns 812 shares of the aerospace company’s stock worth $208,000 after purchasing an additional 10 shares in the last quarter. Cetera Investment Advisers grew its stake in Northrop Grumman by 0.8% during the second quarter. Cetera Investment Advisers now owns 1,278 shares of the aerospace company’s stock valued at $328,000 after acquiring an additional 10 shares in the last quarter. Parallel Advisors LLC grew its stake in Northrop Grumman by 0.5% during the second quarter. Parallel Advisors LLC now owns 3,013 shares of the aerospace company’s stock valued at $793,000 after acquiring an additional 16 shares in the last quarter. Ray Gerald L & Associates Ltd. grew its stake in Northrop Grumman by 1.6% during the second quarter. Ray Gerald L & Associates Ltd. now owns 1,236 shares of the aerospace company’s stock valued at $317,000 after acquiring an additional 20 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Northrop Grumman by 3.0% during the second quarter. Sequoia Financial Advisors LLC now owns 868 shares of the aerospace company’s stock valued at $223,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 81.33% of the company’s stock.
Shares of Northrop Grumman Co. (NOC) opened at $310.47 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.05 and a current ratio of 1.21. The stock has a market cap of $53,426.43, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 3.09 and a beta of 0.69. Northrop Grumman Co. has a 1 year low of $223.88 and a 1 year high of $311.15.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.76. The business had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.35 EPS. equities research analysts anticipate that Northrop Grumman Co. will post 13.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, December 1st. Northrop Grumman’s dividend payout ratio is currently 29.81%.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $309.00 price objective for the company in a research note on Wednesday, September 20th. Deutsche Bank reaffirmed a “buy” rating and set a $325.00 price objective (up previously from $285.00) on shares of Northrop Grumman in a research note on Monday, October 2nd. Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $324.00 to $347.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. J P Morgan Chase & Co raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $317.00 to $355.00 in a research note on Tuesday. Finally, Vertical Research reaffirmed a “buy” rating and set a $296.00 price objective (up previously from $280.00) on shares of Northrop Grumman in a research note on Wednesday, September 20th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Northrop Grumman currently has a consensus rating of “Buy” and a consensus target price of $298.67.
In other Northrop Grumman news, VP Denise M. Peppard sold 2,328 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $300.86, for a total transaction of $700,402.08. Following the transaction, the vice president now owns 28,553 shares in the company, valued at approximately $8,590,455.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sid Ashworth sold 6,311 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $298.00, for a total transaction of $1,880,678.00. Following the transaction, the vice president now owns 63,147 shares in the company, valued at approximately $18,817,806. The disclosure for this sale can be found here. Insiders have sold a total of 21,417 shares of company stock worth $6,365,189 in the last 90 days. Company insiders own 0.70% of the company’s stock.
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Northrop Grumman 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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