Eaton Vance Management increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,257 shares of the aerospace company’s stock after buying an additional 415 shares during the period. Eaton Vance Management owned 0.06% of Northrop Grumman worth $30,866,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Standard Life Aberdeen plc raised its stake in Northrop Grumman by 3.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 116,641 shares of the aerospace company’s stock valued at $37,022,000 after purchasing an additional 3,592 shares during the last quarter. Franklin Resources Inc. raised its stake in Northrop Grumman by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,266,977 shares of the aerospace company’s stock valued at $402,100,000 after purchasing an additional 6,013 shares during the last quarter. Logan Capital Management Inc. acquired a new position in Northrop Grumman during the 3rd quarter valued at $208,000. Richard Bernstein Advisors LLC raised its stake in Northrop Grumman by 97.0% during the 3rd quarter. Richard Bernstein Advisors LLC now owns 25,591 shares of the aerospace company’s stock valued at $8,122,000 after purchasing an additional 12,603 shares during the last quarter. Finally, Banco Santander S.A. acquired a new position in Northrop Grumman during the 3rd quarter valued at $13,964,000. 82.85% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on NOC shares. Zacks Investment Research cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. UBS Group started coverage on shares of Northrop Grumman in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 price objective for the company. Wells Fargo & Co dropped their price objective on shares of Northrop Grumman from $360.00 to $340.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Stifel Nicolaus set a $280.00 price objective on shares of Northrop Grumman and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, ValuEngine cut shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $353.65.
Shares of NOC stock opened at $259.88 on Monday. The firm has a market capitalization of $45.12 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 0.98 and a beta of 0.82. The company has a quick ratio of 1.17, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. Northrop Grumman Co. has a 52-week low of $251.66 and a 52-week high of $360.88.
Northrop Grumman (NYSE:NOC) last announced its earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.35 by $2.19. The business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the company posted $3.67 EPS. As a group, equities research analysts forecast that Northrop Grumman Co. will post 19.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Monday, December 3rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, November 30th. Northrop Grumman’s dividend payout ratio (DPR) is currently 36.14%.
In related news, VP Patrick M. Antkowiak sold 5,137 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $310.00, for a total transaction of $1,592,470.00. Following the completion of the sale, the vice president now owns 5,371 shares in the company, valued at approximately $1,665,010. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Wesley G. Bush sold 10,000 shares of the stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $274.73, for a total transaction of $2,747,300.00. Following the sale, the chairman now owns 9,600 shares of the company’s stock, valued at approximately $2,637,408. The disclosure for this sale can be found here. Insiders have sold a total of 32,107 shares of company stock valued at $9,521,827 in the last quarter. 0.62% of the stock is currently owned by corporate insiders.
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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