StoneRidge PMG Advisors LLC purchased a new stake in shares of Northrop Grumman Corporation (NYSE:NOC – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 998 shares of the aerospace company’s stock, valued at approximately $483,000.
Several other large investors have also recently added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC lifted its position in shares of Northrop Grumman by 51.0% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 796 shares of the aerospace company’s stock worth $385,000 after buying an additional 269 shares during the last quarter. Hohimer Wealth Management LLC bought a new stake in shares of Northrop Grumman during the 3rd quarter valued at about $3,289,000. University of Texas Texas AM Investment Management Co. raised its stake in Northrop Grumman by 84.2% during the third quarter. University of Texas Texas AM Investment Management Co. now owns 512 shares of the aerospace company’s stock worth $248,000 after acquiring an additional 234 shares during the period. M Holdings Securities Inc. acquired a new stake in Northrop Grumman during the third quarter worth about $757,000. Finally, Brighton Jones LLC raised its stake in Northrop Grumman by 29.0% during the third quarter. Brighton Jones LLC now owns 3,809 shares of the aerospace company’s stock worth $1,842,000 after acquiring an additional 856 shares during the period. 83.40% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Northrop Grumman news, Director Mark Welsh, III sold 98 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $555.65, for a total transaction of $54,453.70. Following the sale, the director directly owned 4,314 shares in the company, valued at approximately $2,397,074.10. The trade was a 2.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.21% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have commented on NOC shares. Barclays lifted their target price on Northrop Grumman from $419.00 to $430.00 and gave the company an “underweight” rating in a research note on Thursday, October 22nd. Rothschild & Co Redburn began coverage on Northrop Grumman in a research report on Tuesday, October 6th. They set a “buy” rating and a $680.00 price target on the stock. UBS Group increased their price target on Northrop Grumman from $694.00 to $698.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. raised their price target on Northrop Grumman from $600.00 to $605.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. Finally, Jefferies Financial Group restated a “hold” rating and set a $585.00 price objective on shares of Northrop Grumman in a research report on Sunday, October 25th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $643.74.
Northrop Grumman Trading Up 0.1%
NYSE:NOC opened at $525.71 on Monday. The stock has a market cap of $74.68 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.82 and a beta of -0.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.14 and a current ratio of 1.23. Northrop Grumman Corporation has a 1 year low of $470.06 and a 1 year high of $774.00. The business has a fifty day moving average of $519.36 and a 200-day moving average of $588.90.
Northrop Grumman (NYSE:NOC – Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share for the quarter, beating analysts’ consensus estimates of $7.18 by $0.71. The business had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $11.14 billion. Northrop Grumman had a net margin of 10.37% and a return on equity of 23.46%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $7.67 earnings per share. Equities analysts predict that Northrop Grumman Corporation will post 29.68 earnings per share for the current year.
Northrop Grumman Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st were paid a dividend of $2.47 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $9.88 annualized dividend and a yield of 1.9%. Northrop Grumman’s dividend payout ratio (DPR) is presently 31.17%.
About Northrop Grumman
Northrop Grumman Corporation is a U.S.-based aerospace and defense company that develops and produces systems for government and commercial customers. Its business spans aeronautics, defense, mission technologies and space, including military aircraft, autonomous systems, missile and air-defense capabilities, sensors, communications and satellites.
The company is the prime contractor for the B-21 Raider and is developing the Sentinel intercontinental ballistic missile system. It also supplies technologies and components for other defense programs, as well as launch vehicles, propulsion systems and spacecraft.
Northrop Grumman traces its roots to Northrop Aircraft, founded in 1939, and Grumman, founded in 1930; the two companies combined in 1994.
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