Childress Capital Advisors LLC purchased a new position in shares of Northrop Grumman Co. (NYSE:NOC – Free Report) in the third quarter, HoldingsChannel.com reports. The firm purchased 500 shares of the aerospace company’s stock, valued at approximately $264,000.
Other large investors have also recently bought and sold shares of the company. Norden Group LLC acquired a new stake in shares of Northrop Grumman in the 1st quarter valued at about $778,000. First Trust Direct Indexing L.P. increased its position in Northrop Grumman by 3.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,859 shares of the aerospace company’s stock valued at $1,368,000 after buying an additional 102 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in Northrop Grumman by 2.4% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 965 shares of the aerospace company’s stock valued at $462,000 after buying an additional 23 shares in the last quarter. Veracity Capital LLC increased its position in Northrop Grumman by 27.1% in the 1st quarter. Veracity Capital LLC now owns 990 shares of the aerospace company’s stock valued at $474,000 after buying an additional 211 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Northrop Grumman by 6.9% in the 1st quarter. Van ECK Associates Corp now owns 21,753 shares of the aerospace company’s stock valued at $10,412,000 after buying an additional 1,404 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on NOC shares. Morgan Stanley boosted their target price on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Alembic Global Advisors downgraded Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research note on Tuesday, August 27th. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Citigroup boosted their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, UBS Group boosted their target price on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $550.56.
Northrop Grumman Trading Up 0.3 %
Northrop Grumman stock opened at $505.45 on Thursday. The stock has a market cap of $73.64 billion, a P/E ratio of 31.32, a PEG ratio of 2.31 and a beta of 0.34. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm’s fifty day moving average price is $523.58 and its 200-day moving average price is $482.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.
Northrop Grumman (NYSE:NOC – Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping the consensus estimate of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.18 earnings per share. Equities research analysts forecast that Northrop Grumman Co. will post 25.87 earnings per share for the current fiscal year.
Northrop Grumman Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.63%. Northrop Grumman’s dividend payout ratio is presently 51.05%.
Insider Activity at Northrop Grumman
In related news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,490 shares of company stock valued at $747,372 over the last 90 days. 0.22% of the stock is owned by insiders.
About Northrop Grumman
Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.
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