Honeywell International Inc. acquired a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,200 shares of the aerospace company’s stock, valued at approximately $12,294,000.
Other large investors also recently modified their holdings of the company. Gantzert Investment Co. LLC ADV bought a new stake in Northrop Grumman during the 4th quarter worth about $32,000. First Mercantile Trust Co. acquired a new position in Northrop Grumman during the 4th quarter valued at about $47,000. CenterStar Asset Management LLC acquired a new position in Northrop Grumman during the 4th quarter valued at about $61,000. NuWave Investment Management LLC lifted its position in Northrop Grumman by 6,175.0% during the 4th quarter. NuWave Investment Management LLC now owns 251 shares of the aerospace company’s stock valued at $61,000 after purchasing an additional 247 shares during the period. Finally, Lavaca Capital LLC acquired a new position in Northrop Grumman during the 4th quarter valued at about $68,000. 87.31% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. ValuEngine downgraded shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Argus restated a “buy” rating on shares of Northrop Grumman in a research report on Friday, February 1st. Stifel Nicolaus set a $280.00 target price on shares of Northrop Grumman and gave the company a “hold” rating in a research report on Thursday, October 25th. Citigroup cut their target price on shares of Northrop Grumman from $350.00 to $333.00 and set a “buy” rating on the stock in a research report on Monday, January 14th. Finally, Susquehanna Bancshares assumed coverage on shares of Northrop Grumman in a research report on Thursday, January 10th. They set a “neutral” rating and a $273.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $336.94.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 31st. The aerospace company reported $4.93 earnings per share for the quarter, beating analysts’ consensus estimates of $4.45 by $0.48. The business had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.11 billion. Northrop Grumman had a net margin of 9.73% and a return on equity of 41.24%. During the same period last year, the company posted $2.82 EPS. On average, analysts forecast that Northrop Grumman Co. will post 18.98 EPS for the current fiscal year.
Northrop Grumman announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 4th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to purchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Northrop Grumman Company 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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