State Treasurer State of Michigan lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,717 shares of the aerospace company’s stock after selling 2,200 shares during the quarter. State Treasurer State of Michigan’s holdings in Northrop Grumman were worth $12,176,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in NOC. Gantzert Investment Co. LLC ADV purchased a new stake in Northrop Grumman in the fourth quarter worth $32,000. First Mercantile Trust Co. purchased a new stake in Northrop Grumman in the fourth quarter worth $47,000. CenterStar Asset Management LLC purchased a new stake in Northrop Grumman in the fourth quarter worth $61,000. NuWave Investment Management LLC lifted its stake 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 worth $61,000 after acquiring an additional 247 shares during the period. Finally, Lavaca Capital LLC purchased a new stake in Northrop Grumman in the fourth quarter worth $68,000. 82.87% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Lesley A. Kalan sold 4,158 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $285.58, for a total transaction of $1,187,441.64. Following the completion of the transaction, the vice president now directly owns 10,752 shares in the company, valued at $3,070,556.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is owned by company insiders.
Shares of Northrop Grumman stock opened at $279.59 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 1.70. The firm has a market cap of $47.31 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.23 and a beta of 0.89. Northrop Grumman Co. has a 12 month low of $223.63 and a 12 month high of $360.88.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 31st. The aerospace company reported $4.93 EPS for the quarter, beating the consensus estimate of $4.45 by $0.48. The business had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.11 billion. Northrop Grumman had a return on equity of 41.24% and a net margin of 9.73%. During the same quarter last year, the firm posted $2.82 earnings per share. Sell-side analysts anticipate that Northrop Grumman Co. will post 19.04 EPS for the current year.
Northrop Grumman declared that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts recently commented on NOC shares. Drexel Hamilton reaffirmed a “buy” rating and issued a $335.00 price target on shares of Northrop Grumman in a research note on Wednesday, December 19th. ValuEngine lowered Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 price target for the company in a research note on Thursday, October 11th. Stifel Nicolaus set a $280.00 price target on Northrop Grumman and gave the stock a “hold” rating in a research note on Thursday, October 25th. Finally, Susquehanna Bancshares started coverage on Northrop Grumman in a research note on Thursday, January 10th. They issued a “neutral” rating and a $273.00 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Northrop Grumman currently has a consensus rating of “Buy” and a consensus target price of $336.94.
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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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