Teachers Insurance & Annuity Association of America bought a new position in Northrop Grumman Co. (NYSE:NOC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,566 shares of the aerospace company’s stock, valued at approximately $480,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of NOC. Icon Wealth Partners LLC bought a new stake in shares of Northrop Grumman during the 4th quarter valued at about $100,000. Truewealth LLC bought a new stake in shares of Northrop Grumman during the 4th quarter valued at about $110,000. Ropes Wealth Advisors LLC bought a new stake in shares of Northrop Grumman during the 3rd quarter valued at about $144,000. Crewe Advisors LLC bought a new stake in shares of Northrop Grumman during the 4th quarter valued at about $159,000. Finally, Hanseatic Management Services Inc. boosted its position in shares of Northrop Grumman by 39.7% during the 3rd quarter. Hanseatic Management Services Inc. now owns 591 shares of the aerospace company’s stock valued at $170,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
Shares of Northrop Grumman Co. (NYSE NOC) opened at $344.33 on Wednesday. The firm has a market capitalization of $60,011.48, a P/E ratio of 25.96, 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. 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 released its earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping the Zacks’ 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 quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.96 EPS. analysts expect that Northrop Grumman Co. will post 15.25 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 given a $1.10 dividend. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.28%. Northrop Grumman’s payout ratio is presently 38.36%.
NOC has been the subject of a number of research analyst reports. Royal Bank of Canada set a $374.00 price target on Northrop Grumman and gave the company a “buy” rating in a research report on Thursday, November 16th. Jefferies Group upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $400.00 price target for the company in a research report on Wednesday, February 14th. Argus upgraded Northrop Grumman to a “buy” rating in a research report on Wednesday, February 7th. Cowen reiterated a “hold” rating and set a $310.00 price target on shares of Northrop Grumman in a research report on Wednesday, November 22nd. Finally, Citigroup reiterated a “buy” rating and set a $405.00 price target on shares of Northrop Grumman in a research report on Monday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $358.64.
In other Northrop Grumman news, VP Janis G. Pamiljans sold 1,568 shares of Northrop Grumman stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $354.30, for a total value of $555,542.40. Following the transaction, the vice president now directly owns 6,677 shares of the company’s stock, valued at approximately $2,365,661.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Hardesty sold 2,941 shares of Northrop Grumman stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $351.06, for a total value of $1,032,467.46. Following the completion of the transaction, the vice president now directly owns 9,202 shares in the company, valued at $3,230,454.12. The disclosure for this sale can be found here. Insiders sold a total of 8,344 shares of company stock valued at $2,896,627 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
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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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