Silvant Capital Management LLC Purchases New Holdings in Northrop Grumman (NOC)
Silvant Capital Management LLC bought a new position in shares of Northrop Grumman (NYSE:NOC) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 18,873 shares of the aerospace company’s stock, valued at approximately $6,589,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of NOC. BlackRock Inc. lifted its stake in Northrop Grumman by 4.3% during the 4th quarter. BlackRock Inc. now owns 13,545,765 shares of the aerospace company’s stock worth $4,157,331,000 after acquiring an additional 561,347 shares in the last quarter. Millennium Management LLC lifted its stake in Northrop Grumman by 854.2% during the 4th quarter. Millennium Management LLC now owns 236,166 shares of the aerospace company’s stock worth $72,482,000 after acquiring an additional 211,417 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in Northrop Grumman during the 1st quarter worth about $73,455,000. Amundi Pioneer Asset Management Inc. lifted its stake in Northrop Grumman by 688.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 213,645 shares of the aerospace company’s stock worth $65,570,000 after acquiring an additional 186,546 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Northrop Grumman by 12.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,489,951 shares of the aerospace company’s stock worth $457,282,000 after acquiring an additional 160,259 shares in the last quarter. 80.27% of the stock is currently owned by hedge funds and other institutional investors.
NOC stock opened at $324.52 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.45 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $56.01 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 2.21 and a beta of 0.78. Northrop Grumman has a 1 year low of $320.22 and a 1 year high of $324.92.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Monday, June 4th will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, June 1st. This represents a $4.80 dividend on an annualized basis and a yield of 1.48%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.10. Northrop Grumman’s dividend payout ratio (DPR) is currently 33.13%.
In other news, VP Michael A. Hardesty sold 1,296 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $353.20, for a total transaction of $457,747.20. Following the sale, the vice president now owns 6,677 shares of the company’s stock, valued at approximately $2,358,316.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Janis G. Pamiljans sold 955 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $338.85, for a total value of $323,601.75. Following the sale, the vice president now directly owns 10,466 shares in the company, valued at approximately $3,546,404.10. The disclosure for this sale can be found here. Insiders sold a total of 6,760 shares of company stock worth $2,369,359 in the last ninety days. 0.62% of the stock is owned by corporate insiders.
Several research firms recently issued reports on NOC. Royal Bank of Canada increased their target price on Northrop Grumman to $431.00 and gave the stock an “outperform” rating in a research note on Friday. ValuEngine lowered Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Credit Suisse Group increased their target price on Northrop Grumman from $331.00 to $342.00 and gave the stock a “neutral” rating in a research note on Thursday, April 26th. Sanford C. Bernstein decreased their target price on Northrop Grumman from $369.00 to $352.00 and set a “market perform” rating on the stock in a research note on Thursday, April 26th. Finally, Morgan Stanley increased their target price on Northrop Grumman from $365.00 to $378.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 12th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Northrop Grumman presently has a consensus rating of “Buy” and a consensus price target of $365.24.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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