Delta Asset Management LLC TN lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC – Free Report) by 13.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216 shares of the aerospace company’s stock after buying an additional 25 shares during the quarter. Delta Asset Management LLC TN’s holdings in Northrop Grumman were worth $98,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its holdings in shares of Northrop Grumman by 70,532.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 637,105 shares of the aerospace company’s stock worth $347,611,000 after purchasing an additional 636,203 shares during the last quarter. Franklin Resources Inc. increased its position in Northrop Grumman by 62.6% during the first quarter. Franklin Resources Inc. now owns 1,143,475 shares of the aerospace company’s stock worth $527,965,000 after buying an additional 440,303 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Northrop Grumman by 30.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,567,612 shares of the aerospace company’s stock valued at $723,799,000 after buying an additional 362,449 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Northrop Grumman in the first quarter valued at approximately $123,356,000. Finally, Harding Loevner LP purchased a new position in shares of Northrop Grumman during the first quarter worth approximately $120,708,000. 82.40% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Northrop Grumman
In other Northrop Grumman news, VP Mark A. Caylor sold 1,670 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $472.62, for a total value of $789,275.40. Following the completion of the sale, the vice president now owns 12,900 shares of the company’s stock, valued at $6,096,798. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Mark A. Caylor sold 1,670 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $472.62, for a total transaction of $789,275.40. Following the completion of the sale, the vice president now directly owns 12,900 shares in the company, valued at $6,096,798. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Roshan S. Roeder sold 1,007 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $465.00, for a total value of $468,255.00. Following the completion of the transaction, the vice president now owns 913 shares in the company, valued at approximately $424,545. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.
Northrop Grumman Stock Performance
Northrop Grumman (NYSE:NOC – Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The aerospace company reported $6.18 EPS for the quarter, topping analysts’ consensus estimates of $5.81 by $0.37. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.58 billion. Northrop Grumman had a return on equity of 24.24% and a net margin of 12.07%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.89 EPS. On average, research analysts predict that Northrop Grumman Co. will post 22.73 earnings per share for the current year.
Northrop Grumman Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 27th will be given a dividend of $1.87 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $7.48 dividend on an annualized basis and a yield of 1.61%. Northrop Grumman’s dividend payout ratio (DPR) is 24.54%.
Analysts Set New Price Targets
A number of analysts recently weighed in on NOC shares. Wells Fargo & Company decreased their price target on shares of Northrop Grumman from $485.00 to $435.00 and set an “equal weight” rating for the company in a research note on Monday, September 18th. Bank of America decreased their price objective on Northrop Grumman from $655.00 to $615.00 and set a “buy” rating for the company in a research report on Friday, July 28th. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Citigroup dropped their price target on shares of Northrop Grumman from $502.00 to $485.00 and set a “neutral” rating on the stock in a research note on Friday, July 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 price objective on shares of Northrop Grumman in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $500.20.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems in the United States and internationally. 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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