Quantum Private Wealth LLC Has $1.51 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Quantum Private Wealth LLC grew its stake in Northrop Grumman Co. (NYSE:NOC) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,857 shares of the aerospace company’s stock after buying an additional 160 shares during the period. Quantum Private Wealth LLC’s holdings in Northrop Grumman were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AIA Group Ltd raised its stake in shares of Northrop Grumman by 20.0% in the third quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after acquiring an additional 1,242 shares during the last quarter. Verity Asset Management Inc. acquired a new position in Northrop Grumman during the third quarter valued at approximately $477,000. Vista Capital Partners Inc. acquired a new position in Northrop Grumman during the third quarter valued at approximately $223,000. TFB Advisors LLC acquired a new position in Northrop Grumman during the third quarter valued at approximately $202,000. Finally, Portside Wealth Group LLC acquired a new position in Northrop Grumman during the third quarter valued at approximately $974,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Trading Up 0.3 %

Shares of Northrop Grumman stock opened at $522.23 on Friday. The firm has a market capitalization of $76.09 billion, a PE ratio of 32.25, a price-to-earnings-growth ratio of 1.02 and a beta of 0.35. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The firm’s 50 day moving average is $523.63 and its 200 day moving average is $484.30. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.18 EPS. Equities research analysts forecast that Northrop Grumman Co. will post 25.95 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 51.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target for the company. in a report on Tuesday, August 27th. Susquehanna upped their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday, October 25th. Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Citigroup boosted their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Northrop Grumman has a consensus rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Profile

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.