RiverPark Advisors LLC Takes Position in Northrop Grumman Co. (NOC)
RiverPark Advisors LLC acquired a new stake in Northrop Grumman Co. (NYSE:NOC) in the fourth quarter, Holdings Channel reports. The firm acquired 2,512 shares of the aerospace company’s stock, valued at approximately $771,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NOC. First Eagle Investment Management LLC purchased a new stake in Northrop Grumman in the third quarter valued at approximately $198,126,000. BlackRock Inc. lifted its stake in Northrop Grumman by 4.3% in the fourth quarter. BlackRock Inc. now owns 13,545,765 shares of the aerospace company’s stock valued at $4,157,331,000 after buying an additional 561,347 shares during the last quarter. Capital International Investors lifted its stake in Northrop Grumman by 29.4% in the third quarter. Capital International Investors now owns 2,274,928 shares of the aerospace company’s stock valued at $654,542,000 after buying an additional 516,427 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Northrop Grumman by 688.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 213,645 shares of the aerospace company’s stock valued at $65,570,000 after buying an additional 186,546 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in Northrop Grumman by 114.6% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 321,960 shares of the aerospace company’s stock valued at $92,634,000 after buying an additional 171,929 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.
In related news, VP Michael A. Hardesty sold 1,296 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $353.20, for a total transaction of $457,747.20. Following the transaction, the vice president now owns 6,677 shares of the company’s stock, valued at $2,358,316.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael A. Hardesty sold 2,941 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $351.06, for a total value of $1,032,467.46. Following the transaction, the vice president now directly owns 9,202 shares in the company, valued at approximately $3,230,454.12. The disclosure for this sale can be found here. Insiders have sold 8,344 shares of company stock worth $2,896,627 in the last ninety days. 0.70% of the stock is currently owned by corporate insiders.
Shares of Northrop Grumman Co. (NYSE:NOC) opened at $344.72 on Tuesday. Northrop Grumman Co. has a 52 week low of $233.20 and a 52 week high of $359.43. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $60,867.99, a P/E ratio of 26.33, a PEG ratio of 2.51 and a beta of 0.78.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.07. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the prior year, the company posted $2.96 earnings per share. Northrop Grumman’s quarterly revenue was up 3.7% on a year-over-year basis. research analysts forecast that Northrop Grumman Co. will post 15.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, March 2nd. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio is currently 38.36%.
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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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