Arete Wealth Advisors LLC purchased a new stake in Northrop Grumman Co. (NYSE:NOC – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,762 shares of the aerospace company’s stock, valued at approximately $813,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Morgan Stanley lifted its stake in Northrop Grumman by 3.5% in the 4th quarter. Morgan Stanley now owns 3,353,108 shares of the aerospace company’s stock valued at $1,829,490,000 after buying an additional 114,823 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Northrop Grumman by 30.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,567,612 shares of the aerospace company’s stock worth $723,799,000 after purchasing an additional 362,449 shares in the last quarter. Putnam Investments LLC lifted its stake in Northrop Grumman by 4.1% in the 4th quarter. Putnam Investments LLC now owns 1,335,432 shares of the aerospace company’s stock worth $728,625,000 after purchasing an additional 52,913 shares in the last quarter. Franklin Resources Inc. lifted its stake in Northrop Grumman by 62.6% in the 1st quarter. Franklin Resources Inc. now owns 1,143,475 shares of the aerospace company’s stock worth $527,965,000 after purchasing an additional 440,303 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Northrop Grumman by 7.7% in the 1st quarter. Macquarie Group Ltd. now owns 982,045 shares of the aerospace company’s stock worth $453,430,000 after purchasing an additional 70,389 shares in the last quarter. 82.40% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Northrop Grumman
In related news, VP Mark A. Caylor sold 1,670 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $437.87, for a total value of $731,242.90. Following the completion of the sale, the vice president now directly owns 14,570 shares of the company’s stock, valued at $6,379,765.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.
Northrop Grumman Stock Performance
Northrop Grumman (NYSE:NOC – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The aerospace company reported $5.34 earnings per share for the quarter, beating analysts’ consensus estimates of $5.31 by $0.03. Northrop Grumman had a net margin of 12.27% and a return on equity of 24.90%. The firm had revenue of $9.58 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Sell-side analysts predict that Northrop Grumman Co. will post 22.63 earnings per share for the current fiscal year.
Northrop Grumman Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 28th were given a $1.87 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $7.48 dividend on an annualized basis and a yield of 1.73%. Northrop Grumman’s dividend payout ratio (DPR) is presently 24.78%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on NOC. StockNews.com lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Thursday. Sanford C. Bernstein decreased their target price on shares of Northrop Grumman from $581.00 to $569.00 in a research note on Friday, June 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 target price on shares of Northrop Grumman in a research note on Thursday, August 3rd. Bank of America reduced their price target on shares of Northrop Grumman from $655.00 to $615.00 and set a “buy” rating on the stock in a research report on Friday, July 28th. Finally, Wells Fargo & Company lifted their price target on shares of Northrop Grumman from $448.00 to $485.00 and gave the company an “equal weight” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $506.40.
Northrop Grumman Company Profile
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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