Gateway Investment Advisers LLC cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,948 shares of the aerospace company’s stock after selling 1,142 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Northrop Grumman were worth $9,498,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. National Pension Service lifted its stake in shares of Northrop Grumman by 2.3% in the 4th quarter. National Pension Service now owns 147,903 shares of the aerospace company’s stock valued at $45,393,000 after purchasing an additional 3,370 shares during the last quarter. Davis R M Inc. lifted its stake in Northrop Grumman by 5.1% during the 4th quarter. Davis R M Inc. now owns 45,578 shares of the aerospace company’s stock worth $13,988,000 after acquiring an additional 2,201 shares in the last quarter. Starfire Investment Advisers Inc. acquired a new position in Northrop Grumman during the 4th quarter worth about $279,000. Appleton Partners Inc. MA lifted its stake in Northrop Grumman by 7.3% during the 4th quarter. Appleton Partners Inc. MA now owns 4,242 shares of the aerospace company’s stock worth $1,302,000 after acquiring an additional 289 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp lifted its stake in Northrop Grumman by 5.3% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 23,057 shares of the aerospace company’s stock worth $7,076,000 after acquiring an additional 1,154 shares in the last quarter. 81.23% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on NOC shares. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $347.00 price target on the stock in a report on Friday, January 12th. Goldman Sachs Group set a $320.00 price target on Northrop Grumman and gave the stock a “buy” rating in a report on Thursday, October 26th. Bank of America set a $350.00 price objective on Northrop Grumman and gave the company a “buy” rating in a report on Friday, October 27th. ValuEngine upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Royal Bank of Canada set a $374.00 price target on Northrop Grumman and gave the stock a “buy” rating in a research note on Thursday, November 16th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Northrop Grumman has a consensus rating of “Buy” and an average target price of $317.47.
In related news, COO Gloria A. Flach sold 7,741 shares of Northrop Grumman stock in a transaction on Monday, November 13th. The stock was sold at an average price of $296.45, for a total value of $2,294,819.45. Following the transaction, the chief operating officer now owns 77,200 shares in the company, valued at $22,885,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.
Northrop Grumman Co. (NYSE:NOC) traded up $8.86 during trading on Friday, reaching $332.69. The company’s stock had a trading volume of 1,750,000 shares, compared to its average volume of 1,000,000. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $57,910.00, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 2.40 and a beta of 0.82. Northrop Grumman Co. has a one year low of $233.20 and a one year high of $349.18.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.07. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate 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 was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.96 earnings per share. research analysts anticipate that Northrop Grumman Co. will post 15.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be issued a $1.10 dividend. The ex-dividend date is Friday, March 2nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.32%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio (DPR) is presently 34.87%.
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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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