Intellectus Partners LLC Acquires 768 Shares of Northrop Grumman Corporation (NOC)
Intellectus Partners LLC raised its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 49.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,306 shares of the aerospace company’s stock after purchasing an additional 768 shares during the period. Intellectus Partners LLC’s holdings in Northrop Grumman Corporation were worth $592,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in NOC. Waldron LP increased its stake in Northrop Grumman Corporation by 17.1% during the first quarter. Waldron LP now owns 2,005 shares of the aerospace company’s stock valued at $476,000 after purchasing an additional 293 shares during the last quarter. Tiedemann Wealth Management LLC bought a new stake in Northrop Grumman Corporation during the first quarter valued at $210,000. Oxford Asset Management bought a new stake in Northrop Grumman Corporation during the first quarter valued at $517,000. Baird Financial Group Inc. increased its stake in Northrop Grumman Corporation by 1.6% during the first quarter. Baird Financial Group Inc. now owns 20,300 shares of the aerospace company’s stock valued at $4,828,000 after purchasing an additional 321 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its stake in Northrop Grumman Corporation by 0.5% during the first quarter. Great Lakes Advisors LLC now owns 3,736 shares of the aerospace company’s stock valued at $889,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.
Shares of Northrop Grumman Corporation (NOC) traded up 0.19% during trading on Wednesday, hitting $293.89. 144,911 shares of the stock traded hands. The company has a market cap of $51.18 billion, a price-to-earnings ratio of 22.45 and a beta of 0.68. The firm’s 50-day moving average price is $277.27 and its 200-day moving average price is $260.51. Northrop Grumman Corporation has a 52 week low of $214.59 and a 52 week high of $294.98.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the prior year, the company posted $2.85 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, August 24th. Northrop Grumman Corporation’s payout ratio is presently 30.56%.
In other news, VP Lisa R. Davis sold 367 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the sale, the vice president now owns 961 shares in the company, valued at $252,983.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by corporate insiders.
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Several analysts have weighed in on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $325.00 target price (up previously from $285.00) on shares of Northrop Grumman Corporation in a research note on Monday, October 2nd. Jefferies Group LLC reiterated a “hold” rating and set a $269.00 target price on shares of Northrop Grumman Corporation in a research note on Friday, September 29th. Zacks Investment Research lowered shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Stifel Nicolaus reiterated a “hold” rating and set a $255.00 target price on shares of Northrop Grumman Corporation in a research note on Thursday, September 21st. Finally, Vertical Research reiterated a “buy” rating and set a $296.00 target price (up previously from $280.00) on shares of Northrop Grumman Corporation in a research note on Wednesday, September 20th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $276.72.
About Northrop Grumman Corporation
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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