Treasurer of the State of North Carolina boosted its position in Northrop Grumman Co. (NYSE:NOC) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,130 shares of the aerospace company’s stock after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina’s holdings in Northrop Grumman were worth $21,402,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of NOC. Childress Capital Advisors LLC bought a new position in Northrop Grumman in the 4th quarter valued at approximately $25,000. Graves Light Private Wealth Management Inc. bought a new stake in shares of Northrop Grumman in the fourth quarter worth $28,000. Bellwether Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at $29,000. Carroll Financial Associates Inc. raised its position in Northrop Grumman by 56.1% during the 4th quarter. Carroll Financial Associates Inc. now owns 103 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 37 shares during the last quarter. Finally, Hoover Financial Advisors Inc. acquired a new position in Northrop Grumman during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.
Several research firms have recently weighed in on NOC. Zacks Investment Research upgraded shares of Northrop Grumman from a “sell” rating to a “hold” rating and set a $375.00 price objective for the company in a research report on Monday, May 3rd. Susquehanna Bancshares boosted their price target on Northrop Grumman from $350.00 to $409.00 and gave the company a “positive” rating in a research note on Friday, April 30th. Susquehanna raised their price objective on shares of Northrop Grumman from $350.00 to $409.00 and gave the stock a “positive” rating in a research report on Thursday, May 6th. Credit Suisse Group dropped their target price on shares of Northrop Grumman from $377.00 to $353.00 and set an “outperform” rating on the stock in a research report on Friday, January 29th. Finally, Morgan Stanley raised their price target on shares of Northrop Grumman from $447.00 to $478.00 and gave the stock an “overweight” rating in a report on Thursday, May 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $390.08.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, April 29th. The aerospace company reported $6.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.48 by $1.09. Northrop Grumman had a net margin of 6.94% and a return on equity of 40.02%. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the prior year, the business posted $5.48 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Northrop Grumman Co. will post 22.72 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Monday, March 1st were given a dividend of $1.45 per share. The ex-dividend date was Friday, February 26th. This represents a $5.80 annualized dividend and a dividend yield of 1.57%. Northrop Grumman’s dividend payout ratio is currently 27.35%.
In related news, VP Janis G. Pamiljans sold 801 shares of the business’s stock in a transaction dated Thursday, February 18th. The shares were sold at an average price of $295.80, for a total value of $236,935.80. Following the transaction, the vice president now directly owns 12,466 shares of the company’s stock, valued at approximately $3,687,442.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP David T. Perry sold 5,552 shares of the firm’s stock in a transaction dated Friday, February 26th. The stock was sold at an average price of $299.72, for a total transaction of $1,664,045.44. Following the sale, the vice president now owns 7,414 shares of the company’s stock, valued at approximately $2,222,124.08. The disclosure for this sale can be found here. Insiders sold a total of 21,195 shares of company stock worth $6,774,381 in the last 90 days. Company insiders own 0.27% of the company’s stock.
About Northrop Grumman
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems for strategic and tactical intelligence, surveillance, and reconnaissance (ISR) missions; and long-range strike aircraft systems, tactical fighter aircrafts, and airborne battle management systems.
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