Edmond DE Rothschild Holding S.A. boosted its position in Northrop Grumman Co. (NYSE:NOC) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 300 shares of the aerospace company’s stock after buying an additional 100 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Northrop Grumman were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Paradigm Asset Management Co. LLC boosted its position in Northrop Grumman by 15.0% in the third quarter. Paradigm Asset Management Co. LLC now owns 8,050 shares of the aerospace company’s stock valued at $2,555,000 after buying an additional 1,050 shares during the last quarter. Highwater Wealth Management LLC acquired a new position in Northrop Grumman in the fourth quarter valued at approximately $168,000. Raymond James Trust N.A. lifted its holdings in Northrop Grumman by 52.6% in the fourth quarter. Raymond James Trust N.A. now owns 6,363 shares of the aerospace company’s stock valued at $1,558,000 after acquiring an additional 2,194 shares during the period. Beacon Pointe Advisors LLC acquired a new position in Northrop Grumman in the fourth quarter valued at approximately $789,000. Finally, Richard Bernstein Advisors LLC lifted its holdings in Northrop Grumman by 97.0% in the third quarter. Richard Bernstein Advisors LLC now owns 25,591 shares of the aerospace company’s stock valued at $8,122,000 after acquiring an additional 12,603 shares during the period. Hedge funds and other institutional investors own 84.13% of the company’s stock.
Shares of NOC stock opened at $274.89 on Tuesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.17 and a quick ratio of 1.09. The company has a market cap of $47.38 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.13 and a beta of 0.89. Northrop Grumman Co. has a 1-year low of $223.63 and a 1-year high of $360.88.
Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, January 31st. The aerospace company reported $4.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.45 by $0.48. The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.11 billion. Northrop Grumman had a return on equity of 41.24% and a net margin of 9.73%. During the same period in the prior year, the company posted $2.82 EPS. On average, sell-side analysts forecast that Northrop Grumman Co. will post 18.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 25th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, February 22nd. Northrop Grumman’s payout ratio is 22.50%.
Northrop Grumman declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 4th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of research analysts have issued reports on NOC shares. Barclays decreased their price target on Northrop Grumman from $400.00 to $310.00 and set an “overweight” rating for the company in a report on Tuesday, December 4th. ValuEngine raised Northrop Grumman from a “sell” rating to a “hold” rating in a report on Tuesday, December 11th. Cowen decreased their price target on Northrop Grumman from $350.00 to $300.00 and set a “market perform” rating for the company in a report on Thursday, December 13th. Drexel Hamilton reissued a “buy” rating and issued a $335.00 price target on shares of Northrop Grumman in a report on Wednesday, December 19th. Finally, Susquehanna Bancshares started coverage on Northrop Grumman in a report on Thursday, January 10th. They issued a “neutral” rating and a $273.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $336.39.
In other news, CAO Michael A. Hardesty sold 259 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $288.38, for a total transaction of $74,690.42. Following the completion of the transaction, the chief accounting officer now directly owns 6,253 shares of the company’s stock, valued at approximately $1,803,240.14. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Janis G. Pamiljans sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $285.12, for a total value of $712,800.00. Following the transaction, the vice president now directly owns 6,732 shares of the company’s stock, valued at $1,919,427.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,289 shares of company stock valued at $34,274,861. Corporate insiders own 0.62% of the company’s stock.
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Northrop Grumman Company Profile
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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