Northrop Grumman Corp. (NOC) Position Raised by TD Asset Management Inc.
TD Asset Management Inc. raised its stake in shares of Northrop Grumman Corp. (NYSE:NOC) by 6.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 135,302 shares of the company’s stock after buying an additional 7,999 shares during the period. TD Asset Management Inc. owned about 0.08% of Northrop Grumman Corp. worth $28,948,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in NOC. Benjamin F. Edwards & Company Inc. boosted its position in Northrop Grumman Corp. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 827 shares of the company’s stock valued at $184,000 after buying an additional 4 shares during the period. Trust Co boosted its position in Northrop Grumman Corp. by 9.4% in the first quarter. Trust Co now owns 7,849 shares of the company’s stock valued at $1,554,000 after buying an additional 672 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in Northrop Grumman Corp. by 0.8% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 157,586 shares of the company’s stock valued at $35,028,000 after buying an additional 1,226 shares during the period. Exxonmobil Investment Management Inc. TX boosted its position in Northrop Grumman Corp. by 6.0% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 46,710 shares of the company’s stock valued at $10,383,000 after buying an additional 2,655 shares during the period. Finally, CHICAGO TRUST Co NA boosted its position in Northrop Grumman Corp. by 15.8% in the second quarter. CHICAGO TRUST Co NA now owns 5,556 shares of the company’s stock valued at $1,235,000 after buying an additional 756 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.
Shares of Northrop Grumman Corp. (NYSE:NOC) traded up 0.82% on Tuesday, reaching $250.99. The company’s stock had a trading volume of 111,387 shares. The stock has a market cap of $44.24 billion, a P/E ratio of 21.42 and a beta of 0.66. The firm’s 50 day moving average is $231.40 and its 200-day moving average is $219.89. Northrop Grumman Corp. has a 52-week low of $175.00 and a 52-week high of $253.09.
Northrop Grumman Corp. (NYSE:NOC) last released its quarterly earnings results on Wednesday, October 26th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.54. The firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Northrop Grumman Corp. had a return on equity of 34.10% and a net margin of 8.96%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.75 EPS. On average, equities research analysts forecast that Northrop Grumman Corp. will post $11.72 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Monday, December 5th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $3.60 annualized dividend and a dividend yield of 1.45%. Northrop Grumman Corp.’s payout ratio is 30.72%.
Several equities analysts have recently weighed in on the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Northrop Grumman Corp. in a report on Monday, November 14th. Vetr upgraded Northrop Grumman Corp. from a “sell” rating to a “hold” rating and set a $251.18 target price on the stock in a research note on Thursday, November 10th. Barclays PLC upgraded Northrop Grumman Corp. from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $230.00 to $270.00 in a research note on Thursday, November 10th. Jefferies Group restated a “buy” rating and issued a $260.00 target price (up previously from $250.00) on shares of Northrop Grumman Corp. in a research note on Friday, October 28th. Finally, Vertical Research assumed coverage on Northrop Grumman Corp. in a research note on Friday, October 28th. They issued a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $236.16.
In other news, CFO Kenneth L. Bedingfield sold 125 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $212.20, for a total transaction of $26,525.00. Following the transaction, the chief financial officer now directly owns 18,626 shares of the company’s stock, valued at approximately $3,952,437.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Denise M. Peppard sold 1,912 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $228.42, for a total value of $436,739.04. Following the transaction, the vice president now directly owns 35,372 shares in the company, valued at $8,079,672.24. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
Northrop Grumman Corp. Company Profile
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.
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