Northrop Grumman Corp. (NOC) Stake Increased by US Bancorp DE
US Bancorp DE raised its stake in shares of Northrop Grumman Corp. (NYSE:NOC) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,341 shares of the company’s stock after buying an additional 3,844 shares during the period. US Bancorp DE’s holdings in Northrop Grumman Corp. were worth $10,128,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in NOC. Quadrant Capital Group LLC raised its stake in Northrop Grumman Corp. by 13.9% in the second quarter. Quadrant Capital Group LLC now owns 501 shares of the company’s stock valued at $106,000 after buying an additional 61 shares in the last quarter. Dubuque Bank & Trust Co. raised its stake in Northrop Grumman Corp. by 446.7% in the second quarter. Dubuque Bank & Trust Co. now owns 492 shares of the company’s stock valued at $109,000 after buying an additional 402 shares in the last quarter. Community Bank N.A. raised its stake in Northrop Grumman Corp. by 4.0% in the third quarter. Community Bank N.A. now owns 520 shares of the company’s stock valued at $111,000 after buying an additional 20 shares in the last quarter. Integrated Wealth Management raised its stake in Northrop Grumman Corp. by 148.3% in the third quarter. Integrated Wealth Management now owns 524 shares of the company’s stock valued at $112,000 after buying an additional 313 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in Northrop Grumman Corp. by 140.4% in the third quarter. Penserra Capital Management LLC now owns 541 shares of the company’s stock valued at $115,000 after buying an additional 316 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.
Shares of Northrop Grumman Corp. (NYSE:NOC) traded down 0.220% during trading on Wednesday, hitting $251.245. 349,187 shares of the stock were exchanged. The stock has a market cap of $44.28 billion, a price-to-earnings ratio of 21.441 and a beta of 0.66. Northrop Grumman Corp. has a 12-month low of $175.00 and a 12-month high of $253.09. The stock’s 50 day moving average is $231.40 and its 200-day moving average is $219.89.
Northrop Grumman Corp. (NYSE:NOC) last released its earnings results on Wednesday, October 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.54. Northrop Grumman Corp. had a net margin of 8.96% and a return on equity of 34.10%. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the previous year, the firm earned $2.75 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Northrop Grumman Corp. will post $11.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Monday, December 5th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, December 1st. Northrop Grumman Corp.’s dividend payout ratio (DPR) is currently 30.72%.
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Several research firms have recently commented on NOC. Citigroup Inc. increased their price target on shares of Northrop Grumman Corp. from $235.00 to $243.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Zacks Investment Research upgraded shares of Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $252.00 price target on the stock in a research report on Friday, October 28th. Jefferies Group reiterated a “buy” rating and issued a $260.00 price target (up from $250.00) on shares of Northrop Grumman Corp. in a research report on Friday, October 28th. Barclays PLC upgraded shares of Northrop Grumman Corp. from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $230.00 to $270.00 in a research report on Thursday, November 10th. Finally, Vertical Research began coverage on shares of Northrop Grumman Corp. in a research report on Friday, October 28th. They issued a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Northrop Grumman Corp. has an average rating of “Buy” and an average target price of $236.16.
In other news, VP Denise M. Peppard sold 2,015 shares of Northrop Grumman Corp. stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $229.50, for a total value of $462,442.50. Following the transaction, the vice president now directly owns 37,284 shares of the company’s stock, valued at $8,556,678. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth L. Bedingfield sold 125 shares of Northrop Grumman Corp. stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 18,626 shares in the company, valued at $3,952,437.20. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
About Northrop Grumman Corp.
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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