Northrop Grumman Corporation (NOC) Stake Increased by Stephens Inc. AR
Stephens Inc. AR grew its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 20.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 5,053 shares of the aerospace company’s stock after acquiring an additional 861 shares during the quarter. Stephens Inc. AR’s holdings in Northrop Grumman Corporation were worth $1,454,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in NOC. Janus Henderson Group PLC lifted its position in shares of Northrop Grumman Corporation by 41,518.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock valued at $749,585,000 after acquiring an additional 2,912,953 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of Northrop Grumman Corporation during the 3rd quarter worth $198,126,000. HPM Partners LLC lifted its position in shares of Northrop Grumman Corporation 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 buying an additional 290,777 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Northrop Grumman Corporation 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 buying an additional 256,200 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Northrop Grumman Corporation during the 2nd quarter worth $59,566,000. Hedge funds and other institutional investors own 81.68% of the company’s stock.
NOC has been the subject of several recent analyst reports. Stifel Nicolaus restated a “hold” rating and set a $255.00 price objective (up from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Deutsche Bank AG restated a “buy” rating and set a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. BidaskClub downgraded Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Argus upped their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Morgan Stanley initiated coverage on Northrop Grumman Corporation in a research report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective for the company. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $294.65.
In other Northrop Grumman Corporation news, COO Gloria A. Flach sold 7,741 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 77,200 shares in the company, valued at $22,885,940. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Denise M. Peppard sold 5,037 shares of the stock in a transaction that occurred on 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 transaction, the vice president now owns 58,186 shares in the company, valued at approximately $17,203,854.62. The disclosure for this sale can be found here. Insiders have sold 21,417 shares of company stock valued at $6,365,189 in the last ninety days. 0.70% of the stock is currently owned by insiders.
Northrop Grumman Corporation (NYSE:NOC) traded down $2.29 during midday trading on Thursday, reaching $302.02. The company had a trading volume of 463,700 shares, compared to its average volume of 772,940. Northrop Grumman Corporation has a fifty-two week low of $220.72 and a fifty-two week high of $306.61. The firm has a market capitalization of $52,973.82, a PE ratio of 23.19, a P/E/G ratio of 3.06 and a beta of 0.70. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96.
Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, topping the consensus estimate of $2.92 by $0.76. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The business had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the firm posted $3.35 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. sell-side analysts predict that Northrop Grumman Corporation will post 13.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 4th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $4.00 annualized dividend and a yield of 1.32%. Northrop Grumman Corporation’s dividend payout ratio is currently 29.81%.
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About Northrop Grumman Corporation
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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