Fort Point Capital Partners LLC increased its holdings in Northrop Grumman Co. (NYSE:NOC) by 37.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,406 shares of the aerospace company’s stock after acquiring an additional 384 shares during the quarter. Fort Point Capital Partners LLC’s holdings in Northrop Grumman were worth $432,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in NOC. Icon Wealth Partners LLC bought a new position in Northrop Grumman in the fourth quarter worth about $100,000. Truewealth LLC bought a new position in Northrop Grumman in the fourth quarter worth about $110,000. Ropes Wealth Advisors LLC bought a new position in Northrop Grumman in the third quarter worth about $144,000. Crewe Advisors LLC bought a new position in Northrop Grumman in the fourth quarter worth about $159,000. Finally, SVA Plumb Wealth Management LLC bought a new position in Northrop Grumman in the fourth quarter worth about $203,000. 80.69% of the stock is owned by institutional investors.
NOC has been the subject of a number of recent research reports. Royal Bank of Canada set a $389.00 target price on shares of Northrop Grumman and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Robert W. Baird restated a “buy” rating and set a $394.00 price objective on shares of Northrop Grumman in a report on Friday, January 26th. ValuEngine upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $347.00 price objective on the stock in a report on Friday, January 12th. Finally, Jefferies Group upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $400.00 price objective on the stock in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $358.64.
In related news, VP Denise M. Peppard sold 2,539 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $335.12, for a total value of $850,869.68. Following the sale, the vice president now owns 38,613 shares in the company, valued at $12,939,988.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Janis G. Pamiljans sold 1,568 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 6,677 shares in the company, valued at approximately $2,365,661.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,344 shares of company stock worth $2,896,627. 0.70% of the stock is owned by insiders.
Shares of Northrop Grumman stock opened at $338.63 on Monday. The company has a market capitalization of $58,951.29, a P/E ratio of 29.52, a P/E/G ratio of 2.43 and a beta of 0.78. Northrop Grumman Co. has a 52-week low of $233.20 and a 52-week high of $359.43. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.35 and a quick ratio of 2.24.
Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, beating the Zacks’ 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 quarter in the prior year, the firm earned $2.96 earnings per share. equities analysts expect that Northrop Grumman Co. will post 15.25 EPS for the current 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 given 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 1.30%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio is currently 38.36%.
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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