Checchi Capital Advisers LLC lowered its holdings in Northrop Grumman Co. (NYSE:NOC) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,644 shares of the aerospace company’s stock after selling 293 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Northrop Grumman were worth $892,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Gantzert Investment Co. LLC ADV purchased a new stake in Northrop Grumman in the fourth quarter valued at $32,000. Penserra Capital Management LLC raised its position in Northrop Grumman by 31.3% in the fourth quarter. Penserra Capital Management LLC now owns 168 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 40 shares during the period. First Mercantile Trust Co. purchased a new stake in Northrop Grumman in the fourth quarter valued at $47,000. CenterStar Asset Management LLC purchased a new stake in Northrop Grumman in the fourth quarter valued at $61,000. Finally, NuWave Investment Management LLC raised its position in Northrop Grumman by 6,175.0% in the fourth 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. Institutional investors own 87.31% of the company’s stock.
A number of equities research analysts have recently weighed in on NOC shares. Credit Suisse Group reaffirmed a “buy” rating on shares of Northrop Grumman in a research note on Thursday, January 31st. Morgan Stanley dropped their price objective on Northrop Grumman from $346.00 to $318.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 14th. Jefferies Financial Group dropped their price objective on Northrop Grumman from $400.00 to $324.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Zacks Investment Research cut Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 26th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $335.00 price objective on shares of Northrop Grumman in a research note on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Northrop Grumman currently has a consensus rating of “Buy” and a consensus target price of $336.39.
Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 31st. The aerospace company reported $4.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.45 by $0.48. Northrop Grumman had a return on equity of 41.24% and a net margin of 9.73%. The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the previous year, the firm posted $2.82 EPS. As a group, research analysts forecast that Northrop Grumman Co. will post 19.17 EPS for the current fiscal year.
Northrop Grumman declared that its board has approved a stock buyback program on Tuesday, December 4th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Monday, February 25th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, February 22nd. This represents a $4.80 annualized dividend and a yield of 1.67%. Northrop Grumman’s payout ratio is 22.50%.
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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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