Cadinha & Co. LLC Has $19.48 Million Stake in Northrop Grumman Corporation (NOC)
Cadinha & Co. LLC decreased its holdings in Northrop Grumman Corporation (NYSE:NOC) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,702 shares of the aerospace company’s stock after selling 1,299 shares during the quarter. Northrop Grumman accounts for approximately 3.3% of Cadinha & Co. LLC’s holdings, making the stock its 9th biggest holding. Cadinha & Co. LLC’s holdings in Northrop Grumman were worth $19,479,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in NOC. Janus Henderson Group PLC increased its position in shares of Northrop Grumman by 41,518.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock worth $749,585,000 after purchasing an additional 2,912,953 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Northrop Grumman during the 3rd quarter worth about $198,126,000. HPM Partners LLC increased its position in shares of Northrop Grumman by 23,412.0% during the 2nd quarter. HPM Partners LLC now owns 292,019 shares of the aerospace company’s stock worth $28,387,000 after purchasing an additional 290,777 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Northrop Grumman by 25.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,245,400 shares of the aerospace company’s stock worth $319,707,000 after purchasing an additional 256,200 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth about $59,566,000. Institutional investors and hedge funds own 81.33% of the company’s stock.
A number of brokerages recently issued reports on NOC. BidaskClub upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Jefferies Group reiterated a “hold” rating and set a $269.00 target price on shares of Northrop Grumman in a research report on Friday, September 29th. Vertical Research reiterated a “buy” rating and set a $296.00 target price (up previously from $280.00) on shares of Northrop Grumman in a research report on Wednesday, September 20th. Stifel Nicolaus reiterated a “hold” rating and set a $255.00 target price on shares of Northrop Grumman in a research report on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $309.00 target price for the company in a research report on Wednesday, September 20th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $294.65.
Northrop Grumman Corporation (NYSE:NOC) traded up $2.45 on Thursday, reaching $300.20. 629,600 shares of the company’s stock traded hands, compared to its average volume of 781,667. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. The firm has a market cap of $51,831.87, a PE ratio of 22.69, a PEG ratio of 3.00 and a beta of 0.69. Northrop Grumman Corporation has a 52-week low of $220.72 and a 52-week high of $309.76.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.76. The firm had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.35 EPS. sell-side analysts expect that Northrop Grumman Corporation will post 13.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, December 1st. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.81%.
In other news, VP Denise M. Peppard sold 2,328 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $300.86, for a total value of $700,402.08. Following the transaction, the vice president now owns 28,553 shares of the company’s stock, valued at approximately $8,590,455.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Denise M. Peppard sold 5,037 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $295.67, for a total transaction of $1,489,289.79. Following the completion of the transaction, the vice president now directly owns 58,186 shares in the company, valued at approximately $17,203,854.62. The disclosure for this sale can be found here. Insiders sold a total of 21,417 shares of company stock worth $6,365,189 in the last ninety days. Insiders own 0.70% of the company’s stock.
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About Northrop Grumman
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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