ETRADE Capital Management LLC Has $2.32 Million Position in Northrop Grumman Corporation (NOC)
ETRADE Capital Management LLC lowered its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 10.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,057 shares of the aerospace company’s stock after selling 900 shares during the quarter. ETRADE Capital Management LLC’s holdings in Northrop Grumman were worth $2,318,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in Northrop Grumman during the third quarter worth approximately $30,405,000. Caxton Associates LP acquired a new stake in Northrop Grumman during the second quarter worth approximately $5,134,000. Gerber Kawasaki Wealth & Investment Management grew its position in Northrop Grumman by 4.4% during the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 27,847 shares of the aerospace company’s stock worth $7,289,000 after buying an additional 1,180 shares in the last quarter. Toronto Dominion Bank grew its position in Northrop Grumman by 25.2% during the second quarter. Toronto Dominion Bank now owns 59,532 shares of the aerospace company’s stock worth $15,280,000 after buying an additional 11,991 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in Northrop Grumman during the second quarter worth approximately $241,000. 81.68% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on NOC shares. Royal Bank Of Canada set a $294.00 target price on Northrop Grumman and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $305.00 target price for the company in a research note on Tuesday, September 5th. Argus upped their target price on Northrop Grumman from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. BidaskClub upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Finally, Vertical Research restated a “buy” rating and set a $296.00 target price (up from $280.00) on shares of Northrop Grumman in a research note on Wednesday, September 20th. Six equities research 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 a consensus rating of “Buy” and an average target price of $294.65.
Shares of Northrop Grumman Corporation (NYSE NOC) traded up $0.70 during trading hours on Monday, reaching $302.72. The company had a trading volume of 273,000 shares, compared to its average volume of 770,738. The company has a market cap of $52,696.89, a price-to-earnings ratio of 23.07, a P/E/G ratio of 3.05 and a beta of 0.70. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.05 and a current ratio of 1.21. Northrop Grumman Corporation has a twelve month low of $220.72 and a twelve month high of $306.61.
Northrop Grumman (NYSE:NOC) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.76. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.33 billion. Northrop Grumman had a return on equity of 39.76% and a net margin of 9.24%. Northrop Grumman’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $3.35 EPS. equities analysts anticipate that Northrop Grumman Corporation will post 13.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.32%. Northrop Grumman’s payout ratio is currently 29.81%.
In other news, VP Denise M. Peppard sold 5,037 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $295.67, for a total value of $1,489,289.79. Following the completion of the sale, the vice president now directly owns 58,186 shares in the company, valued at approximately $17,203,854.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the sale, the vice president now owns 28,553 shares of the company’s stock, valued at $8,590,455.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,417 shares of company stock valued at $6,365,189. Company 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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