Legacy Advisors LLC Buys New Position in Northrop Grumman Co. (NOC)
Legacy Advisors LLC bought a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 110 shares of the aerospace company’s stock, valued at approximately $30,000.
Several other large investors also recently modified their holdings of the business. Tibra Equities Europe Ltd bought a new position in Northrop Grumman in the 1st quarter worth $6,659,000. Dubuque Bank & Trust Co. raised its holdings in Northrop Grumman by 50.7% in the 1st quarter. Dubuque Bank & Trust Co. now owns 1,536 shares of the aerospace company’s stock worth $415,000 after acquiring an additional 517 shares during the period. First Hawaiian Bank raised its holdings in Northrop Grumman by 60.7% in the 1st quarter. First Hawaiian Bank now owns 2,236 shares of the aerospace company’s stock worth $602,000 after acquiring an additional 845 shares during the period. Machina Capital S.A.S. bought a new position in Northrop Grumman in the 4th quarter worth $994,000. Finally, Belpointe Asset Management LLC raised its holdings in Northrop Grumman by 422.2% in the 4th quarter. Belpointe Asset Management LLC now owns 1,833 shares of the aerospace company’s stock worth $449,000 after acquiring an additional 1,482 shares during the period. 83.96% of the stock is owned by institutional investors.
Several brokerages recently commented on NOC. ValuEngine downgraded shares of Northrop Grumman from a “hold” rating to a “sell” rating in a report on Friday, January 4th. Cowen reiterated a “hold” rating and issued a $300.00 target price on shares of Northrop Grumman in a report on Thursday, January 31st. Susquehanna Bancshares upgraded shares of Northrop Grumman from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $309.00 to $315.00 in a report on Friday, April 5th. Argus reiterated a “buy” rating on shares of Northrop Grumman in a report on Friday, February 1st. Finally, Zacks Investment Research downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $338.72.
NYSE:NOC opened at $270.53 on Thursday. Northrop Grumman Co. has a 52-week low of $223.63 and a 52-week high of $359.88. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 1.70. The stock has a market cap of $46.48 billion, a PE ratio of 12.68, a P/E/G ratio of 1.13 and a beta of 0.88.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 31st. The aerospace company reported $4.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.45 by $0.48. Northrop Grumman had a net margin of 9.73% and a return on equity of 41.24%. The company had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.11 billion. During the same quarter in the previous year, the firm posted $2.82 EPS. On average, research analysts expect that Northrop Grumman Co. will post 18.94 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 25th were given a dividend of $1.20 per share. The ex-dividend date was Friday, February 22nd. This represents a $4.80 annualized dividend and a dividend yield of 1.77%. Northrop Grumman’s dividend payout ratio (DPR) is currently 22.50%.
About Northrop Grumman
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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