Granite Investment Partners LLC purchased a new stake in shares of Northrop Grumman Corporation (NYSE:NOC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 824 shares of the aerospace company’s stock, valued at approximately $237,000.
Several other institutional investors and hedge funds have also recently modified their holdings of NOC. Janus Henderson Group PLC lifted its stake in shares of Northrop Grumman Corporation by 41,518.7% during the second quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock valued at $749,585,000 after acquiring an additional 2,912,953 shares during the period. First Eagle Investment Management LLC acquired a new position in shares of Northrop Grumman Corporation during the third quarter valued at $198,126,000. HPM Partners LLC lifted its stake in shares of Northrop Grumman Corporation by 23,412.0% during the second quarter. HPM Partners LLC now owns 292,019 shares of the aerospace company’s stock valued at $28,387,000 after acquiring an additional 290,777 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Northrop Grumman Corporation by 25.9% during the second quarter. Renaissance Technologies LLC now owns 1,245,400 shares of the aerospace company’s stock valued at $319,707,000 after acquiring an additional 256,200 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Northrop Grumman Corporation during the second quarter valued at $59,566,000. 81.68% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Gloria A. Flach sold 7,741 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $296.45, for a total transaction of $2,294,819.45. Following the sale, the chief operating officer now owns 77,200 shares of the company’s stock, valued at $22,885,940. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Denise M. Peppard sold 2,328 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $300.86, for a total value of $700,402.08. Following the sale, the vice president now directly owns 28,553 shares in the company, valued at approximately $8,590,455.58. The disclosure for this sale can be found here. Insiders sold 21,417 shares of company stock worth $6,365,189 in the last three months. Insiders own 0.70% of the company’s stock.
Northrop Grumman Corporation (NOC) traded down $2.29 during trading hours on Friday, reaching $302.02. The company’s stock had a trading volume of 463,700 shares, compared to its average volume of 772,940. Northrop Grumman Corporation has a 1 year low of $220.72 and a 1 year high of $306.61. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $52,575.18, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70.
Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.76. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The firm had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the firm posted $3.35 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. sell-side analysts expect that Northrop Grumman Corporation will post 13.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, December 1st. Northrop Grumman Corporation’s payout ratio is 29.81%.
Several equities analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Northrop Grumman Corporation in a research note on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price target on the stock. BidaskClub raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Cowen Inc reissued a “hold” rating and issued a $310.00 target price on shares of Northrop Grumman Corporation in a research note on Wednesday. Jefferies Group LLC reissued a “hold” rating and issued a $269.00 target price on shares of Northrop Grumman Corporation in a research note on Friday, September 29th. Finally, Argus increased their target price on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $294.65.
Northrop Grumman Corporation 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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