Schroder Investment Management Group raised its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 33.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,502 shares of the aerospace company’s stock after buying an additional 2,900 shares during the period. Schroder Investment Management Group’s holdings in Northrop Grumman were worth $3,650,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Northrop Grumman during the second quarter worth approximately $114,000. Fort L.P. bought a new stake in Northrop Grumman during the second quarter worth approximately $117,000. WESPAC Advisors SoCal LLC bought a new stake in Northrop Grumman during the third quarter worth approximately $126,000. Stelac Advisory Services LLC bought a new stake in Northrop Grumman during the third quarter worth approximately $136,000. Finally, Sun Life Financial INC boosted its holdings in Northrop Grumman by 71.0% during the second quarter. Sun Life Financial INC now owns 472 shares of the aerospace company’s stock worth $145,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 82.85% of the company’s stock.
In related news, VP Patrick M. Antkowiak sold 5,137 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $310.00, for a total value 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Lesley A. Kalan sold 4,158 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $285.58, for a total transaction of $1,187,441.64. Following the completion of the sale, the vice president now owns 10,752 shares of the company’s stock, valued at approximately $3,070,556.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,107 shares of company stock valued at $9,521,827. 0.62% of the stock is owned by insiders.
Shares of NYSE:NOC opened at $257.54 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.17. The company has a market capitalization of $44.62 billion, a P/E ratio of 19.39, a PEG ratio of 0.97 and a beta of 0.82. Northrop Grumman Co. has a 52 week low of $245.57 and a 52 week high of $360.88.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $6.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.35 by $2.19. The business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.67 EPS. On average, research analysts expect that Northrop Grumman Co. will post 19.04 earnings per share for the current year.
Northrop Grumman announced that its board has initiated a share repurchase program on Tuesday, December 4th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Monday, December 3rd will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.80 annualized dividend and a dividend yield of 1.86%. Northrop Grumman’s dividend payout ratio (DPR) is presently 36.14%.
A number of analysts recently weighed in on the stock. Barclays reduced their target price on shares of Northrop Grumman from $400.00 to $310.00 and set an “overweight” rating for the company in a report on Tuesday. Morgan Stanley reduced their target price on shares of Northrop Grumman from $346.00 to $318.00 and set an “equal weight” rating for the company in a report on Wednesday, November 14th. ValuEngine upgraded shares of Northrop Grumman from a “sell” rating to a “hold” rating in a report on Saturday, November 10th. Jefferies Financial Group reduced their target price on shares of Northrop Grumman from $400.00 to $324.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. Finally, Zacks Investment Research cut shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a report on Friday, October 26th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Northrop Grumman presently has a consensus rating of “Buy” and a consensus target price of $348.35.
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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