Northrop Grumman Co. (NOC) Stake Boosted by Piedmont Investment Advisors LLC
Piedmont Investment Advisors LLC grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,845 shares of the aerospace company’s stock after purchasing an additional 320 shares during the period. Piedmont Investment Advisors LLC’s holdings in Northrop Grumman were worth $10,026,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Beach Investment Management LLC. purchased a new stake in shares of Northrop Grumman in the 2nd quarter valued at $257,000. Advisor Partners LLC raised its holdings in shares of Northrop Grumman by 3.4% in the 2nd quarter. Advisor Partners LLC now owns 4,738 shares of the aerospace company’s stock valued at $1,216,000 after buying an additional 155 shares during the period. HL Financial Services LLC raised its holdings in shares of Northrop Grumman by 3.1% in the 2nd quarter. HL Financial Services LLC now owns 1,513 shares of the aerospace company’s stock valued at $388,000 after buying an additional 45 shares during the period. Pioneer Investment Management Inc. raised its holdings in shares of Northrop Grumman by 12.4% in the 2nd quarter. Pioneer Investment Management Inc. now owns 27,099 shares of the aerospace company’s stock valued at $6,957,000 after buying an additional 2,983 shares during the period. Finally, Global X Management Co. LLC raised its holdings in shares of Northrop Grumman by 35.6% in the 2nd quarter. Global X Management Co. LLC now owns 742 shares of the aerospace company’s stock valued at $190,000 after buying an additional 195 shares during the period. 81.33% of the stock is currently owned by institutional investors and hedge funds.
In other Northrop Grumman news, VP Denise M. Peppard sold 5,037 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $295.67, for a total transaction of $1,489,289.79. Following the sale, the vice president now 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 available through the SEC website. Also, COO Gloria A. Flach sold 7,741 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $296.45, for a total value of $2,294,819.45. Following the sale, the chief operating officer now owns 77,200 shares in the company, valued at approximately $22,885,940. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,417 shares of company stock worth $6,365,189. 0.70% of the stock is owned by company insiders.
Several research firms recently issued reports on NOC. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $309.00 price objective on the stock in a report on Wednesday, September 20th. Deutsche Bank reiterated a “buy” rating and issued a $325.00 price objective (up previously from $285.00) on shares of Northrop Grumman in a report on Monday, October 2nd. Royal Bank of Canada boosted their price objective on Northrop Grumman from $324.00 to $347.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. J P Morgan Chase & Co upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $317.00 to $355.00 in a report on Tuesday. Finally, Vertical Research reiterated a “buy” rating and issued a $296.00 price objective (up previously from $280.00) on shares of Northrop Grumman in a report on Wednesday, September 20th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $298.67.
Shares of Northrop Grumman Co. (NOC) traded up $2.72 during midday trading on Wednesday, reaching $307.28. The company’s stock had a trading volume of 978,300 shares, compared to its average volume of 781,103. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12 month low of $223.88 and a 12 month high of $309.76. The stock has a market cap of $53,017.34, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 3.06 and a beta of 0.69.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.76. Northrop Grumman had a return on equity of 39.76% and a net margin of 9.24%. The company had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the prior year, the business earned $3.35 EPS. Northrop Grumman’s revenue was up 6.0% on a year-over-year basis. analysts anticipate that Northrop Grumman Co. will post 13.18 EPS for the current year.
The business 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 annualized dividend and a yield of 1.30%. Northrop Grumman’s dividend payout ratio (DPR) is 29.81%.
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Northrop Grumman Company Profile
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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