Alps Advisors Inc. increased its stake in Northrop Grumman Co. (NYSE:NOC) by 63.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,331 shares of the aerospace company’s stock after acquiring an additional 1,688 shares during the quarter. Alps Advisors Inc.’s holdings in Northrop Grumman were worth $1,375,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cornerstone Wealth Management LLC grew its holdings in shares of Northrop Grumman by 31,477.7% during the second quarter. Cornerstone Wealth Management LLC now owns 779,970 shares of the aerospace company’s stock valued at $2,525,000 after buying an additional 777,500 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Northrop Grumman by 15.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,716,917 shares of the aerospace company’s stock valued at $1,497,008,000 after buying an additional 614,356 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Northrop Grumman by 1,187.9% during the second quarter. Point72 Asset Management L.P. now owns 439,175 shares of the aerospace company’s stock valued at $135,134,000 after buying an additional 405,075 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Northrop Grumman by 153.0% during the second quarter. Millennium Management LLC now owns 600,981 shares of the aerospace company’s stock valued at $184,922,000 after buying an additional 363,407 shares in the last quarter. Finally, Winslow Capital Management LLC grew its stake in Northrop Grumman by 26.9% in the second quarter. Winslow Capital Management LLC now owns 942,269 shares of the aerospace company’s stock valued at $289,936,000 after purchasing an additional 200,026 shares in the last quarter. Institutional investors and hedge funds own 79.67% of the company’s stock.
A number of research analysts have commented on the company. ValuEngine downgraded Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Stifel Nicolaus set a $280.00 target price on Northrop Grumman and gave the company a “hold” rating in a research note on Thursday, October 25th. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 target price on the stock in a research note on Thursday, October 11th. Wells Fargo & Co reduced their price target on Northrop Grumman from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Finally, Credit Suisse Group reduced their price target on Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating for the company in a research report on Friday, July 27th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $353.65.
In other news, VP Lesley A. Kalan sold 4,158 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $285.58, for a total value of $1,187,441.64. Following the sale, the vice president now directly owns 10,752 shares in the company, valued at approximately $3,070,556.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Shawn N. Purvis sold 1,565 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $273.39, for a total value of $427,855.35. Following the completion of the sale, the vice president now owns 4,326 shares in the company, valued at $1,182,685.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,715 shares of company stock valued at $11,192,664. Insiders own 0.62% of the company’s stock.
Shares of NYSE NOC traded up $0.90 during trading hours on Thursday, hitting $267.71. 1,328,395 shares of the company’s stock were exchanged, compared to its average volume of 1,671,456. Northrop Grumman Co. has a 1-year low of $251.66 and a 1-year high of $360.88. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.17 and a current ratio of 1.26. The stock has a market capitalization of $46.32 billion, a PE ratio of 20.16, a P/E/G ratio of 1.00 and a beta of 0.83.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $6.54 EPS for the quarter, beating the consensus estimate of $4.35 by $2.19. The firm had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Northrop Grumman had a return on equity of 38.27% and a net margin of 9.62%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.67 EPS. As a group, equities research analysts forecast that Northrop Grumman Co. will post 19.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Monday, December 3rd will be issued a $1.20 dividend. The ex-dividend date is Friday, November 30th. This represents a $4.80 annualized dividend and a yield of 1.79%. Northrop Grumman’s dividend payout ratio (DPR) is 36.14%.
Northrop Grumman 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.
See Also: Why is Cost of Capital Important?
Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.