KB Financial Partners LLC purchased a new stake in shares of Northrop Grumman Co. (NYSE:NOC – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,364 shares of the aerospace company’s stock, valued at approximately $630,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOC. Bbjs Financial Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter worth approximately $27,000. ST Germain D J Co. Inc. purchased a new stake in Northrop Grumman during the 4th quarter worth $27,000. State of Wyoming increased its holdings in Northrop Grumman by 76.5% in the 4th quarter. State of Wyoming now owns 60 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 26 shares in the last quarter. Sageworth Trust Co raised its position in Northrop Grumman by 1,440.0% in the first quarter. Sageworth Trust Co now owns 77 shares of the aerospace company’s stock valued at $36,000 after purchasing an additional 72 shares during the period. Finally, AXS Investments LLC acquired a new position in shares of Northrop Grumman during the fourth quarter worth about $53,000. 82.40% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently commented on NOC. Bank of America dropped their target price on Northrop Grumman from $655.00 to $615.00 and set a “buy” rating on the stock in a report on Friday, July 28th. Royal Bank of Canada reissued an “outperform” rating and set a $500.00 target price on shares of Northrop Grumman in a research report on Thursday, August 3rd. Wells Fargo & Company raised their price target on shares of Northrop Grumman from $448.00 to $485.00 and gave the company an “equal weight” rating in a report on Monday, July 31st. Citigroup cut their price objective on shares of Northrop Grumman from $502.00 to $485.00 and set a “neutral” rating on the stock in a report on Friday, July 28th. Finally, StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $506.40.
Northrop Grumman Stock Performance
Shares of NOC opened at $424.08 on Wednesday. The firm has a market capitalization of $64.16 billion, a PE ratio of 14.05, a P/E/G ratio of 4.69 and a beta of 0.52. The company has a quick ratio of 1.09, a current ratio of 1.20 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average price of $440.07 and a 200 day moving average price of $449.83. Northrop Grumman Co. has a 52-week low of $416.71 and a 52-week high of $556.27.
Northrop Grumman (NYSE:NOC – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The aerospace company reported $5.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.31 by $0.03. Northrop Grumman had a net margin of 12.27% and a return on equity of 24.90%. The business had revenue of $9.58 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, sell-side analysts anticipate that Northrop Grumman Co. will post 22.63 earnings per share for the current fiscal year.
Northrop Grumman Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th will be issued a $1.87 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $7.48 annualized dividend and a dividend yield of 1.76%. Northrop Grumman’s dividend payout ratio (DPR) is 24.78%.
Insider Activity at Northrop Grumman
In other news, VP Mark A. Caylor sold 1,670 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $437.87, for a total transaction of $731,242.90. Following the completion of the transaction, the vice president now owns 14,570 shares in the company, valued at approximately $6,379,765.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.
About Northrop Grumman
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems in the United States and internationally. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.
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