We Are One Seven LLC acquired a new stake in Northrop Grumman Co. (NYSE:NOC) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 858 shares of the aerospace company’s stock, valued at approximately $322,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp bought a new position in shares of Northrop Grumman in the 2nd quarter worth $9,784,000. Calamos Wealth Management LLC boosted its position in shares of Northrop Grumman by 46.2% in the 2nd quarter. Calamos Wealth Management LLC now owns 21,657 shares of the aerospace company’s stock worth $6,998,000 after purchasing an additional 6,845 shares during the last quarter. Trust Co. of Toledo NA OH bought a new position in shares of Northrop Grumman in the 1st quarter worth $231,000. Capital Planning Advisors LLC boosted its position in shares of Northrop Grumman by 3.4% in the 2nd quarter. Capital Planning Advisors LLC now owns 10,191 shares of the aerospace company’s stock worth $3,293,000 after purchasing an additional 338 shares during the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC boosted its position in shares of Northrop Grumman by 4.8% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 1,495 shares of the aerospace company’s stock worth $483,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 83.09% of the company’s stock.
In other Northrop Grumman news, VP Christopher T. Jones sold 5,000 shares of Northrop Grumman stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $353.19, for a total value of $1,765,950.00. Following the sale, the vice president now owns 67,422 shares of the company’s stock, valued at approximately $23,812,776.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kathy J. Warden sold 6,837 shares of Northrop Grumman stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $353.46, for a total value of $2,416,606.02. Following the completion of the sale, the chief executive officer now directly owns 99,002 shares in the company, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.
Several analysts recently commented on the company. Bank of America reaffirmed a “buy” rating and set a $405.00 price objective (up previously from $355.00) on shares of Northrop Grumman in a research note on Thursday, July 25th. UBS Group raised their price objective on Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Morgan Stanley raised their price objective on Northrop Grumman from $418.00 to $437.00 and gave the stock an “overweight” rating in a research note on Thursday. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 price objective on the stock in a research note on Tuesday, September 10th. Finally, Credit Suisse Group raised their price objective on Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $353.87.
NOC opened at $362.22 on Friday. The business’s 50-day moving average price is $367.89 and its two-hundred day moving average price is $326.44. Northrop Grumman Co. has a 1 year low of $223.63 and a 1 year high of $383.89. The company has a market capitalization of $62.20 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 1.51 and a beta of 0.80. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.64 by $0.42. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same quarter last year, the business posted $4.50 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. Sell-side analysts anticipate that Northrop Grumman Co. will post 19.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, September 6th. Northrop Grumman’s dividend payout ratio is 24.75%.
Northrop Grumman Company Profile
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
Further Reading: How are Outstanding Shares Different from Authorized Shares?
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