Raymond James Trust N.A. boosted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 22.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,202 shares of the aerospace company’s stock after buying an additional 1,904 shares during the quarter. Raymond James Trust N.A.’s holdings in Northrop Grumman were worth $3,108,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Sawtooth Solutions LLC raised its position in Northrop Grumman by 11.1% during the 3rd quarter. Sawtooth Solutions LLC now owns 2,733 shares of the aerospace company’s stock valued at $862,000 after purchasing an additional 273 shares during the last quarter. Wealth Alliance raised its holdings in shares of Northrop Grumman by 17.7% during the third quarter. Wealth Alliance now owns 1,158 shares of the aerospace company’s stock valued at $365,000 after acquiring an additional 174 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of Northrop Grumman during the third quarter valued at approximately $176,000. Seizert Capital Partners LLC raised its holdings in shares of Northrop Grumman by 232.3% during the third quarter. Seizert Capital Partners LLC now owns 71,095 shares of the aerospace company’s stock valued at $22,430,000 after acquiring an additional 49,699 shares in the last quarter. Finally, Norway Savings Bank raised its holdings in Northrop Grumman by 32.9% in the 3rd quarter. Norway Savings Bank now owns 202 shares of the aerospace company’s stock worth $64,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 72.52% of the company’s stock.
NOC has been the subject of several research reports. ValuEngine lowered shares of Northrop Grumman from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Royal Bank of Canada raised shares of Northrop Grumman from a “sector perform” rating to an “outperform” rating and set a $391.00 price target for the company in a research note on Tuesday, October 6th. Robert W. Baird lowered Northrop Grumman from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $386.00 to $331.00 in a research report on Thursday, January 7th. Morgan Stanley decreased their price objective on Northrop Grumman from $470.00 to $453.00 and set an “overweight” rating for the company in a report on Thursday, January 7th. Finally, Zacks Investment Research downgraded Northrop Grumman from a “hold” rating to a “sell” rating and set a $320.00 price objective for the company. in a report on Wednesday, October 28th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Northrop Grumman presently has a consensus rating of “Hold” and a consensus price target of $384.33.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 22nd. The aerospace company reported $5.89 earnings per share for the quarter, beating the consensus estimate of $5.60 by $0.29. The firm had revenue of $9.08 billion during the quarter, compared to the consensus estimate of $8.85 billion. Northrop Grumman had a return on equity of 40.02% and a net margin of 6.94%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $5.49 earnings per share. On average, research analysts expect that Northrop Grumman Co. will post 22.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 16th. Investors of record on Monday, November 30th were given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, November 27th. Northrop Grumman’s dividend payout ratio (DPR) is currently 27.35%.
Northrop Grumman Profile
Northrop Grumman Corporation operates as a security company. It provides various systems, products, and solutions in autonomous systems, cyber, space, strike, and logistics and modernization, as well as in command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR) to customers in the United States and internationally.
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