Thames Capital Management LLC acquired a new position in shares of Northrop Grumman Co. (NYSE:NOC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,010 shares of the aerospace company’s stock, valued at approximately $1,845,000.
Other hedge funds have also recently made changes to their positions in the company. Icon Wealth Partners LLC bought a new stake in shares of Northrop Grumman in the fourth quarter worth $100,000. Truewealth LLC acquired a new position in shares of Northrop Grumman in the fourth quarter valued at $110,000. Ropes Wealth Advisors LLC acquired a new position in shares of Northrop Grumman in the third quarter valued at $144,000. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Northrop Grumman in the third quarter valued at $154,000. Finally, Crewe Advisors LLC acquired a new position in shares of Northrop Grumman in the fourth quarter valued at $159,000. 80.69% of the stock is owned by hedge funds and other institutional investors.
In other Northrop Grumman news, VP Denise M. Peppard sold 2,539 shares of Northrop Grumman stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $335.12, for a total transaction of $850,869.68. Following the completion of the sale, the vice president now directly owns 38,613 shares of the company’s stock, valued at approximately $12,939,988.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Janis G. Pamiljans sold 1,568 shares of Northrop Grumman stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $354.30, for a total value of $555,542.40. Following the completion of the transaction, the vice president now owns 6,677 shares in the company, valued at $2,365,661.10. The disclosure for this sale can be found here. Insiders have sold 8,344 shares of company stock valued at $2,896,627 in the last quarter. 0.70% of the stock is currently owned by company insiders.
Shares of Northrop Grumman Co. (NOC) traded down $4.23 during mid-day trading on Wednesday, reaching $340.10. The company’s stock had a trading volume of 811,429 shares, compared to its average volume of 1,036,563. 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 company has a market capitalization of $59,210.00, a P/E ratio of 25.80, a P/E/G ratio of 2.47 and a beta of 0.78. Northrop Grumman Co. has a 12-month low of $233.20 and a 12-month high of $359.43.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $0.07. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The company had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same period in the prior year, the firm earned $2.96 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. equities analysts forecast that Northrop Grumman Co. will post 15.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, March 5th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $4.40 annualized dividend and a dividend yield of 1.29%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio (DPR) is 33.38%.
Several research firms recently commented on NOC. Citigroup restated a “buy” rating and issued a $405.00 price target on shares of Northrop Grumman in a research note on Monday. ValuEngine raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Argus upgraded shares of Northrop Grumman to a “buy” rating in a report on Wednesday, February 7th. Royal Bank of Canada set a $389.00 target price on shares of Northrop Grumman and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, Robert W. Baird restated a “buy” rating and set a $394.00 price objective on shares of Northrop Grumman in a research note on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $358.64.
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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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