Valicenti Advisory Services Inc. reduced its holdings in Northrop Grumman Co. (NYSE:NOC) by 5.5% during the 4th quarter, Holdings Channel reports. The fund owned 9,741 shares of the aerospace company’s stock after selling 570 shares during the period. Northrop Grumman makes up about 1.5% of Valicenti Advisory Services Inc.’s holdings, making the stock its 28th largest holding. Valicenti Advisory Services Inc.’s holdings in Northrop Grumman were worth $2,990,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new stake in Northrop Grumman during the third quarter worth $30,405,000. Caxton Associates LP purchased a new stake in Northrop Grumman during the second quarter worth $5,134,000. Toronto Dominion Bank boosted its holdings in Northrop Grumman by 25.2% during the second quarter. Toronto Dominion Bank now owns 59,532 shares of the aerospace company’s stock worth $15,280,000 after buying an additional 11,991 shares in the last quarter. USS Investment Management Ltd boosted its holdings in Northrop Grumman by 7.0% during the third quarter. USS Investment Management Ltd now owns 27,500 shares of the aerospace company’s stock worth $7,911,000 after buying an additional 1,800 shares in the last quarter. Finally, Shell Asset Management Co. boosted its holdings in Northrop Grumman by 9.3% during the third quarter. Shell Asset Management Co. now owns 42,114 shares of the aerospace company’s stock worth $5,549,000 after buying an additional 3,588 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on NOC. Wells Fargo & Co raised shares of Northrop Grumman from a “market perform” rating to an “outperform” rating in a report on Tuesday. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $347.00 price target on the stock in a report on Friday, January 12th. Stifel Nicolaus reissued a “hold” rating and set a $315.00 price target on shares of Northrop Grumman in a report on Tuesday, January 9th. ValuEngine raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Cowen restated a “hold” rating and set a $300.00 price objective (up from $275.00) on shares of Northrop Grumman in a research report on Thursday, October 26th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $302.21.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.76. The company had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.35 earnings per share. equities research analysts predict that Northrop Grumman Co. will post 13.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, December 1st. Northrop Grumman’s dividend payout ratio (DPR) is 29.81%.
In other news, COO Gloria A. Flach sold 7,741 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $296.45, for a total value of $2,294,819.45. Following the completion of the sale, the chief operating officer now directly owns 77,200 shares in the company, valued at $22,885,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sid Ashworth sold 6,311 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $298.00, for a total transaction of $1,880,678.00. Following the completion of the sale, the vice president now owns 63,147 shares of the company’s stock, valued at $18,817,806. The disclosure for this sale can be found here. Insiders sold 21,417 shares of company stock valued at $6,365,189 over the last quarter. Company insiders own 0.70% of the company’s stock.
Northrop Grumman 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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