Picton Mahoney Asset Management trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,700 shares of the aerospace company’s stock after selling 3,000 shares during the quarter. Picton Mahoney Asset Management’s holdings in Northrop Grumman were worth $10,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOC. Advisors Asset Management Inc. increased its holdings in Northrop Grumman by 8.5% in the second quarter. Advisors Asset Management Inc. now owns 28,410 shares of the aerospace company’s stock worth $8,742,000 after buying an additional 2,225 shares during the last quarter. Schroder Investment Management Group increased its holdings in Northrop Grumman by 56.5% in the second quarter. Schroder Investment Management Group now owns 8,602 shares of the aerospace company’s stock worth $2,647,000 after buying an additional 3,106 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Northrop Grumman by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,563 shares of the aerospace company’s stock worth $470,646,000 after buying an additional 130,066 shares during the last quarter. New Jersey Better Educational Savings Trust acquired a new position in Northrop Grumman in the third quarter worth approximately $381,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in Northrop Grumman by 200.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 270,000 shares of the aerospace company’s stock worth $85,690,000 after buying an additional 180,000 shares during the last quarter. 87.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NOC stock opened at $281.47 on Tuesday. Northrop Grumman Co. has a 12 month low of $223.63 and a 12 month high of $360.88. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.09 and a current ratio of 1.17. The company has a market cap of $47.78 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.24 and a beta of 0.89.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 31st. The aerospace company reported $4.93 EPS for the quarter, beating the consensus estimate of $4.45 by $0.48. Northrop Grumman had a return on equity of 41.24% and a net margin of 9.73%. The company had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.11 billion. During the same quarter last year, the company posted $2.82 earnings per share. On average, sell-side analysts anticipate that Northrop Grumman Co. will post 18.98 earnings per share for the current fiscal year.
Northrop Grumman announced that its board has authorized a stock repurchase plan on Tuesday, December 4th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
A number of equities analysts recently commented on the company. ValuEngine downgraded Northrop Grumman from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Argus restated a “buy” rating on shares of Northrop Grumman in a report on Friday, February 1st. Stifel Nicolaus set a $280.00 price objective on Northrop Grumman and gave the stock a “hold” rating in a report on Thursday, October 25th. Citigroup dropped their price objective on Northrop Grumman from $350.00 to $333.00 and set a “buy” rating on the stock in a report on Monday, January 14th. Finally, Susquehanna Bancshares assumed coverage on Northrop Grumman in a report on Thursday, January 10th. They issued a “neutral” rating and a $273.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Northrop Grumman currently has a consensus rating of “Buy” and an average target price of $336.94.
About Northrop Grumman
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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