Elkhorn Investments LLC grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 4.0% during the fourth quarter, HoldingsChannel reports. The firm owned 5,275 shares of the aerospace company’s stock after acquiring an additional 204 shares during the quarter. Northrop Grumman makes up about 1.1% of Elkhorn Investments LLC’s holdings, making the stock its 17th biggest holding. Elkhorn Investments LLC’s holdings in Northrop Grumman were worth $1,420,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. First Eagle Investment Management LLC bought a new stake in shares of Northrop Grumman during the 3rd quarter worth approximately $198,126,000. BlackRock Inc. lifted its holdings in shares of Northrop Grumman by 4.3% during the 4th quarter. BlackRock Inc. now owns 13,545,765 shares of the aerospace company’s stock worth $4,157,331,000 after acquiring an additional 561,347 shares during the period. Capital International Investors lifted its holdings in shares of Northrop Grumman by 29.4% during the 3rd quarter. Capital International Investors now owns 2,274,928 shares of the aerospace company’s stock worth $654,542,000 after acquiring an additional 516,427 shares during the period. Millennium Management LLC lifted its holdings in shares of Northrop Grumman by 854.2% during the 4th quarter. Millennium Management LLC now owns 236,166 shares of the aerospace company’s stock worth $72,482,000 after acquiring an additional 211,417 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Northrop Grumman by 688.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 213,645 shares of the aerospace company’s stock worth $65,570,000 after acquiring an additional 186,546 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.
A number of brokerages have recently weighed in on NOC. Citigroup reaffirmed a “buy” rating and set a $405.00 price target on shares of Northrop Grumman in a report on Monday. ValuEngine raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Argus raised shares of Northrop Grumman to a “buy” rating in a report on Wednesday, February 7th. Royal Bank of Canada set a $389.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $394.00 price target on shares of Northrop Grumman in a report on Friday, January 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Northrop Grumman currently has an average rating of “Buy” and a consensus target price of $358.64.
Shares of Northrop Grumman Co. (NYSE:NOC) traded down $1.07 during trading hours on Wednesday, reaching $343.26. 34,916 shares of the company traded hands, compared to its average volume of 1,020,403. The company has a market cap of $60,011.48, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.24 and a current ratio of 2.35. Northrop Grumman Co. has a fifty-two week low of $233.20 and a fifty-two week high of $359.43.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $0.07. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.34 billion. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.96 EPS. equities analysts predict that Northrop Grumman Co. will post 15.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, March 5th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $4.40 annualized dividend and a dividend yield of 1.28%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio (DPR) is presently 38.36%.
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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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