Aviva PLC decreased its position in Northrop Grumman Co. (NYSE:NOC) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,297 shares of the aerospace company’s stock after selling 1,253 shares during the quarter. Aviva PLC’s holdings in Northrop Grumman were worth $9,469,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in NOC. Capital International Investors boosted its position in shares of Northrop Grumman by 5.7% during the fourth quarter. Capital International Investors now owns 16,203,570 shares of the aerospace company’s stock worth $5,573,546,000 after buying an additional 877,311 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Northrop Grumman by 12.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,818,653 shares of the aerospace company’s stock worth $1,760,434,000 after acquiring an additional 629,137 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Northrop Grumman by 141.5% during the 4th quarter. AQR Capital Management LLC now owns 1,072,419 shares of the aerospace company’s stock valued at $368,879,000 after acquiring an additional 628,367 shares during the period. Jennison Associates LLC grew its position in Northrop Grumman by 5,176.0% in the 1st quarter. Jennison Associates LLC now owns 286,538 shares of the aerospace company’s stock valued at $86,692,000 after acquiring an additional 281,107 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Northrop Grumman by 11.1% during the fourth quarter. Macquarie Group Ltd. now owns 2,490,685 shares of the aerospace company’s stock worth $856,721,000 after purchasing an additional 248,217 shares during the period. Institutional investors own 83.94% of the company’s stock.
NYSE NOC traded down $12.87 during trading on Thursday, reaching $328.38. 23,402 shares of the company’s stock were exchanged, compared to its average volume of 1,122,185. The company has a 50 day moving average price of $331.70 and a two-hundred day moving average price of $343.07. The stock has a market cap of $56.89 billion, a P/E ratio of 24.95 and a beta of 0.80. Northrop Grumman Co. has a 1 year low of $263.31 and a 1 year high of $385.01. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.21 and a current ratio of 1.29.
Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, April 29th. The aerospace company reported $5.15 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.36). The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.54 billion. Northrop Grumman had a return on equity of 39.22% and a net margin of 6.57%. Northrop Grumman’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $5.06 EPS. Research analysts forecast that Northrop Grumman Co. will post 22.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, May 29th. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.32. Northrop Grumman’s payout ratio is currently 27.35%.
A number of brokerages recently weighed in on NOC. Royal Bank of Canada assumed coverage on shares of Northrop Grumman in a report on Wednesday, May 20th. They issued a “sector perform” rating and a $366.00 price objective for the company. They noted that the move was a valuation call. Cowen upgraded shares of Northrop Grumman from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $360.00 to $370.00 in a research note on Friday, May 15th. UBS Group reduced their price objective on Northrop Grumman from $410.00 to $373.00 and set a “neutral” rating on the stock in a research note on Thursday. ValuEngine cut Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Wednesday, June 3rd. Finally, Seaport Global Securities began coverage on Northrop Grumman in a research report on Tuesday, May 19th. They issued a “buy” rating and a $398.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Northrop Grumman presently has a consensus rating of “Buy” and a consensus price target of $384.83.
Northrop Grumman Company Profile
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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