Riverpark Capital Management LLC bought a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,263 shares of the aerospace company’s stock, valued at approximately $8,368,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. RiverPark Advisors LLC bought a new position in Northrop Grumman during the fourth quarter worth $771,000. Premia Global Advisors LLC bought a new position in Northrop Grumman during the fourth quarter worth $241,000. Ellington Management Group LLC bought a new position in Northrop Grumman during the fourth quarter worth $430,000. Teachers Insurance & Annuity Association of America bought a new position in Northrop Grumman during the fourth quarter worth $480,000. Finally, Stone Ridge Asset Management LLC bought a new position in Northrop Grumman during the fourth quarter worth $575,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on NOC. Citigroup reaffirmed a “buy” rating and issued a $405.00 price objective on shares of Northrop Grumman in a research note on Monday. ValuEngine raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $365.00 price objective (up from $336.00) on shares of Northrop Grumman in a research note on Friday, February 23rd. Goldman Sachs Group lowered shares of Northrop Grumman from a “conviction-buy” rating to a “buy” rating and set a $395.00 price objective on the stock. in a research note on Tuesday, February 20th. Finally, Jefferies Group raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $400.00 price objective on the stock in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Northrop Grumman has an average rating of “Buy” and a consensus target price of $358.64.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.07. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter last year, the company posted $2.96 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. sell-side analysts expect that Northrop Grumman Co. will post 15.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Friday, March 2nd. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio (DPR) is 38.36%.
In related news, VP Janis G. Pamiljans sold 1,568 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $354.30, for a total transaction of $555,542.40. Following the completion of the sale, the vice president now owns 6,677 shares in the company, valued at $2,365,661.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael A. Hardesty sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $351.06, for a total transaction of $1,032,467.46. Following the sale, the vice president now owns 9,202 shares of the company’s stock, valued at approximately $3,230,454.12. The disclosure for this sale can be found here. Insiders have sold 8,344 shares of company stock valued at $2,896,627 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
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Northrop Grumman Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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