Y Intercept Hong Kong Ltd bought a new stake in Northrop Grumman Co. (NYSE:NOC - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,144 shares of the aerospace company's stock, valued at approximately $604,000.
Other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $31,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $36,000. Meeder Asset Management Inc. lifted its stake in Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company's stock valued at $33,000 after acquiring an additional 54 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $40,000. Finally, True Wealth Design LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $53,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Benjamin R. Davies sold 1,156 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,255 shares of company stock valued at $666,461 in the last 90 days. 0.22% of the stock is currently owned by company insiders.
Shares of NOC stock opened at $480.00 on Friday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The firm's fifty day simple moving average is $506.77 and its 200 day simple moving average is $488.20. The firm has a market capitalization of $69.94 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 0.96 and a beta of 0.33. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.
Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.18 EPS. As a group, sell-side analysts predict that Northrop Grumman Co. will post 25.93 EPS for the current year.
Northrop Grumman announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.72%. The ex-dividend date is Monday, December 2nd. Northrop Grumman's dividend payout ratio (DPR) is presently 51.05%.
A number of research firms have issued reports on NOC. Royal Bank of Canada lifted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Wells Fargo & Company dropped their price target on shares of Northrop Grumman from $565.00 to $505.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Susquehanna lifted their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a "positive" rating in a research report on Friday, October 25th. UBS Group lifted their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Barclays lifted their price target on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $553.27.
Check Out Our Latest Report on Northrop Grumman
Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.
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