Starfire Investment Advisers Inc. purchased a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 909 shares of the aerospace company’s stock, valued at approximately $279,000.
Other large investors have also modified their holdings of the company. Seven Eight Capital LP purchased a new stake in shares of Northrop Grumman during the second quarter worth approximately $154,000. Thrivent Financial For Lutherans increased its stake in Northrop Grumman by 2.4% in the second quarter. Thrivent Financial For Lutherans now owns 6,838 shares of the aerospace company’s stock valued at $1,756,000 after purchasing an additional 160 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in Northrop Grumman in the second quarter valued at approximately $744,000. Lazard Asset Management LLC increased its stake in Northrop Grumman by 36.6% in the second quarter. Lazard Asset Management LLC now owns 127,251 shares of the aerospace company’s stock valued at $32,666,000 after purchasing an additional 34,070 shares during the last quarter. Finally, Quantitative Investment Management LLC boosted its holdings in shares of Northrop Grumman by 115.7% in the second quarter. Quantitative Investment Management LLC now owns 80,900 shares of the aerospace company’s stock valued at $20,767,000 after acquiring an additional 43,400 shares during the period. Institutional investors own 81.23% of the company’s stock.
Northrop Grumman Co. (NYSE NOC) traded up $8.68 during midday trading on Friday, hitting $332.69. The stock had a trading volume of 1,748,958 shares, compared to its average volume of 961,929. The firm has a market cap of $57,910.00, a price-to-earnings ratio of 29.01, a P/E/G ratio of 2.43 and a beta of 0.82. Northrop Grumman Co. has a fifty-two week low of $231.98 and a fifty-two week high of $349.18. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 2.04.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.75 by $0.07. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.34 billion. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. Northrop Grumman’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.96 EPS. equities analysts expect that Northrop Grumman Co. will post 15.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, March 2nd. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 1.32%. Northrop Grumman’s payout ratio is 34.87%.
In related news, COO Gloria A. Flach sold 7,741 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $296.45, for a total transaction of $2,294,819.45. Following the transaction, the chief operating officer now directly owns 77,200 shares of the company’s stock, valued at approximately $22,885,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Argus increased their price objective on Northrop Grumman to $375.00 and gave the company a “positive” rating in a report on Monday. Zacks Investment Research downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Robert W. Baird reaffirmed a “buy” rating and set a $394.00 price target on shares of Northrop Grumman in a report on Friday, January 26th. Wells Fargo & Co raised Northrop Grumman from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 16th. Finally, Royal Bank of Canada set a $389.00 target price on Northrop Grumman and gave the company a “buy” rating in a report on Tuesday, January 23rd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $317.47.
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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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