Cpwm LLC raised its position in Northrop Grumman Co. (NYSE:NOC) by 45.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 991 shares of the aerospace company’s stock after purchasing an additional 311 shares during the quarter. Cpwm LLC’s holdings in Northrop Grumman were worth $315,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOC. Alps Advisors Inc. lifted its stake in Northrop Grumman by 200.7% during the 2nd quarter. Alps Advisors Inc. now owns 2,643 shares of the aerospace company’s stock valued at $811,000 after acquiring an additional 1,764 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Northrop Grumman during the 2nd quarter valued at approximately $5,369,000. Victory Capital Management Inc. lifted its stake in Northrop Grumman by 70.8% during the 2nd quarter. Victory Capital Management Inc. now owns 23,345 shares of the aerospace company’s stock valued at $7,183,000 after acquiring an additional 9,679 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Northrop Grumman during the 2nd quarter valued at approximately $5,617,000. Finally, Engineers Gate Manager LP acquired a new stake in Northrop Grumman during the 2nd quarter valued at approximately $200,000. 82.85% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. Zacks Investment Research cut shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 26th. Jefferies Financial Group decreased their price objective on shares of Northrop Grumman from $400.00 to $324.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Morgan Stanley decreased their price objective on shares of Northrop Grumman from $346.00 to $318.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 14th. UBS Group assumed coverage on shares of Northrop Grumman in a research note on Wednesday, August 15th. They set a “neutral” rating and a $315.00 price objective for the company. Finally, Wells Fargo & Co decreased their price objective on shares of Northrop Grumman from $360.00 to $340.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $348.35.
NYSE:NOC opened at $257.54 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. The company has a market cap of $43.38 billion, a PE ratio of 19.39, a PEG ratio of 0.94 and a beta of 0.82. Northrop Grumman Co. has a 1-year low of $245.57 and a 1-year high of $360.88.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share for the quarter, beating the consensus estimate of $4.35 by $2.19. The firm had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.67 EPS. Analysts expect that Northrop Grumman Co. will post 19.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Monday, December 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, November 30th. Northrop Grumman’s dividend payout ratio (DPR) is 36.14%.
Northrop Grumman announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 4th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In related news, VP Sheila C. Cheston sold 10,440 shares of the business’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $320.00, for a total value of $3,340,800.00. Following the completion of the sale, the vice president now owns 43,696 shares of the company’s stock, valued at approximately $13,982,720. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Shawn N. Purvis sold 807 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $280.00, for a total transaction of $225,960.00. Following the completion of the sale, the vice president now directly owns 3,519 shares of the company’s stock, valued at approximately $985,320. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,107 shares of company stock valued at $9,521,827. Insiders own 0.62% of the company’s stock.
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Northrop Grumman Profile
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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