Starfire Investment Advisers Inc. lifted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 71.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,440 shares of the aerospace company’s stock after purchasing an additional 600 shares during the period. Starfire Investment Advisers Inc.’s holdings in Northrop Grumman were worth $539,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of NOC. Nuveen Asset Management LLC increased its position in shares of Northrop Grumman by 32,192.2% during the second quarter. Nuveen Asset Management LLC now owns 1,241,311 shares of the aerospace company’s stock worth $401,079,000 after purchasing an additional 1,237,467 shares in the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of Northrop Grumman by 30,736.5% during the second quarter. Thoroughbred Financial Services LLC now owns 785,405 shares of the aerospace company’s stock worth $78,540,000 after buying an additional 782,858 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Northrop Grumman by 93.9% during the second quarter. Invesco Ltd. now owns 1,049,863 shares of the aerospace company’s stock worth $339,222,000 after buying an additional 508,554 shares during the last quarter. Putnam Investments LLC grew its holdings in shares of Northrop Grumman by 30.7% during the second quarter. Putnam Investments LLC now owns 1,444,136 shares of the aerospace company’s stock worth $466,615,000 after buying an additional 339,169 shares during the last quarter. Finally, Suvretta Capital Management LLC purchased a new position in shares of Northrop Grumman during the second quarter worth about $73,898,000. Institutional investors and hedge funds own 83.11% of the company’s stock.
A number of equities analysts recently issued reports on NOC shares. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 price target on the stock in a report on Tuesday, September 10th. ValuEngine lowered Northrop Grumman from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Bank of America reissued a “buy” rating and set a $405.00 price target (up previously from $355.00) on shares of Northrop Grumman in a report on Thursday, July 25th. Sanford C. Bernstein raised their price target on Northrop Grumman from $344.00 to $368.00 in a report on Thursday, July 25th. Finally, UBS Group raised their price target on Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. Northrop Grumman presently has an average rating of “Buy” and a consensus target price of $353.87.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.64 by $0.42. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.41 billion. During the same quarter in the previous year, the company earned $4.50 EPS. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts predict that Northrop Grumman Co. will post 19.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, September 6th. Northrop Grumman’s dividend payout ratio (DPR) is 24.75%.
In other news, VP Christopher T. Jones sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.19, for a total transaction of $1,765,950.00. Following the sale, the vice president now owns 67,422 shares of the company’s stock, valued at approximately $23,812,776.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kathy J. Warden sold 6,837 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.46, for a total value of $2,416,606.02. Following the sale, the chief executive officer now directly owns 99,002 shares in the company, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.
Northrop Grumman Profile
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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