904 Shares in Northrop Grumman Co. (NYSE:NOC) Purchased by Verity Asset Management Inc.

Verity Asset Management Inc. acquired a new stake in shares of Northrop Grumman Co. (NYSE:NOC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 904 shares of the aerospace company’s stock, valued at approximately $477,000.

Several other institutional investors have also modified their holdings of the stock. Capital International Investors lifted its position in Northrop Grumman by 5.6% in the first quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock worth $5,623,128,000 after buying an additional 621,636 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Northrop Grumman by 4.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock worth $2,218,132,000 after acquiring an additional 211,459 shares during the last quarter. Capital World Investors boosted its stake in shares of Northrop Grumman by 0.6% during the 1st quarter. Capital World Investors now owns 3,688,511 shares of the aerospace company’s stock worth $1,765,543,000 after purchasing an additional 23,398 shares during the period. Legal & General Group Plc grew its holdings in Northrop Grumman by 16.0% during the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after purchasing an additional 150,367 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Northrop Grumman by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 683,427 shares of the aerospace company’s stock worth $297,937,000 after purchasing an additional 125,262 shares during the period. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Performance

NOC opened at $520.58 on Friday. The company has a market cap of $75.85 billion, a P/E ratio of 32.25, a price-to-earnings-growth ratio of 1.02 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average price is $523.63 and its 200-day moving average price is $484.30. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter last year, the company posted $6.18 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts anticipate that Northrop Grumman Co. will post 25.95 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NOC. Royal Bank of Canada raised their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Morgan Stanley lifted their price objective on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Barclays increased their target price on shares of Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Susquehanna boosted their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday, October 25th. Finally, TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $550.56.

Northrop Grumman Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.