Northrop Grumman Corporation (NOC) Position Reduced by Commerce Bank
Commerce Bank decreased its stake in Northrop Grumman Corporation (NYSE:NOC) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,639 shares of the aerospace company’s stock after selling 2,258 shares during the quarter. Commerce Bank’s holdings in Northrop Grumman Corporation were worth $4,500,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Hanseatic Management Services Inc. raised its position in Northrop Grumman Corporation by 12.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 48 shares during the last quarter. First Personal Financial Services raised its position in Northrop Grumman Corporation by 39.0% in the 2nd quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock valued at $111,000 after purchasing an additional 121 shares during the last quarter. Pittenger & Anderson Inc. raised its position in Northrop Grumman Corporation by 28.6% in the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock valued at $116,000 after purchasing an additional 100 shares during the last quarter. Harbour Capital Advisors LLC bought a new position in Northrop Grumman Corporation in the 1st quarter valued at $108,000. Finally, People s United Financial Inc. raised its position in Northrop Grumman Corporation by 9.2% in the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock valued at $122,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 81.93% of the company’s stock.
Several brokerages have issued reports on NOC. Zacks Investment Research upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $309.00 price objective for the company in a research report on Wednesday, September 20th. Deutsche Bank AG reiterated a “buy” rating and issued a $325.00 price objective (up previously from $285.00) on shares of Northrop Grumman Corporation in a research report on Monday, October 2nd. Argus lifted their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Morgan Stanley began coverage on Northrop Grumman Corporation in a research report on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price objective for the company. Finally, Royal Bank Of Canada lifted their price objective on Northrop Grumman Corporation from $324.00 to $347.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $293.93.
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Northrop Grumman Corporation (NYSE NOC) traded up $0.61 during midday trading on Friday, reaching $300.55. The company had a trading volume of 440,500 shares, compared to its average volume of 776,362. The company has a market capitalization of $52,320.00, a P/E ratio of 22.86, a PEG ratio of 3.02 and a beta of 0.70. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. Northrop Grumman Corporation has a fifty-two week low of $220.72 and a fifty-two week high of $306.61.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.76. The business had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.33 billion. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.35 earnings per share. equities research analysts predict that Northrop Grumman Corporation will post 13.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be paid a $1.00 dividend. The ex-dividend date is Friday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.33%. Northrop Grumman Corporation’s payout ratio is 29.81%.
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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