Welch & Forbes LLC lowered its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 4.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,900 shares of the aerospace company’s stock after selling 388 shares during the period. Welch & Forbes LLC’s holdings in Northrop Grumman were worth $2,180,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in NOC. Gantzert Investment Co. LLC ADV purchased a new stake in Northrop Grumman during the 4th quarter valued at $32,000. First Mercantile Trust Co. purchased a new stake in Northrop Grumman during the 4th quarter valued at $47,000. CenterStar Asset Management LLC purchased a new stake in Northrop Grumman during the 4th quarter valued at $61,000. NuWave Investment Management LLC boosted its position in Northrop Grumman by 6,175.0% during the 4th quarter. NuWave Investment Management LLC now owns 251 shares of the aerospace company’s stock valued at $61,000 after buying an additional 247 shares during the period. Finally, Lavaca Capital LLC purchased a new stake in Northrop Grumman during the 4th quarter valued at $68,000. 87.31% of the stock is currently owned by institutional investors.
Shares of Northrop Grumman stock traded up $1.83 during trading on Tuesday, hitting $283.30. The company’s stock had a trading volume of 5,264 shares, compared to its average volume of 1,122,360. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.17 and a quick ratio of 1.09. The firm has a market cap of $48.03 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.24 and a beta of 0.89. Northrop Grumman Co. has a 52 week low of $223.63 and a 52 week high of $360.88.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 31st. The aerospace company reported $4.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.45 by $0.48. The company had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.11 billion. Northrop Grumman had a net margin of 9.73% and a return on equity of 41.24%. During the same period last year, the business earned $2.82 EPS. On average, equities analysts anticipate that Northrop Grumman Co. will post 18.98 EPS for the current year.
Northrop Grumman declared that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
NOC has been the subject of several analyst reports. Citigroup dropped their price target on shares of Northrop Grumman from $350.00 to $333.00 and set a “buy” rating for the company in a research report on Monday, January 14th. Barclays dropped their price target on shares of Northrop Grumman from $400.00 to $310.00 and set an “overweight” rating for the company in a research report on Tuesday, December 4th. Zacks Investment Research cut shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 26th. Credit Suisse Group reissued a “buy” rating on shares of Northrop Grumman in a research report on Thursday, January 31st. Finally, Goldman Sachs Group cut shares of Northrop Grumman from a “conviction-buy” rating to a “buy” rating in a research report on Friday, February 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Northrop Grumman has a consensus rating of “Buy” and an average price target of $336.94.
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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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