Northrop Grumman Co. (NOC) Holdings Increased by Westpac Banking Corp

Westpac Banking Corp boosted its position in Northrop Grumman Co. (NYSE:NOC) by 7.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 48,306 shares of the aerospace company’s stock after purchasing an additional 3,450 shares during the period. Westpac Banking Corp’s holdings in Northrop Grumman were worth $15,331,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NOC. St. Johns Investment Management Company LLC grew its stake in shares of Northrop Grumman by 5.1% during the 3rd quarter. St. Johns Investment Management Company LLC now owns 3,395 shares of the aerospace company’s stock valued at $1,077,000 after buying an additional 166 shares during the period. Torch Wealth Management LLC grew its stake in shares of Northrop Grumman by 3.7% during the 2nd quarter. Torch Wealth Management LLC now owns 4,862 shares of the aerospace company’s stock valued at $1,496,000 after buying an additional 175 shares during the period. Advisor Partners LLC grew its stake in shares of Northrop Grumman by 3.7% during the 3rd quarter. Advisor Partners LLC now owns 5,353 shares of the aerospace company’s stock valued at $1,699,000 after buying an additional 189 shares during the period. Sun Life Financial INC grew its stake in shares of Northrop Grumman by 71.0% during the 2nd quarter. Sun Life Financial INC now owns 472 shares of the aerospace company’s stock valued at $145,000 after buying an additional 196 shares during the period. Finally, Harwood Advisory Group LLC grew its stake in shares of Northrop Grumman by 24.2% during the 2nd quarter. Harwood Advisory Group LLC now owns 1,027 shares of the aerospace company’s stock valued at $317,000 after buying an additional 200 shares during the period. 79.67% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on NOC. ValuEngine lowered shares of Northrop Grumman from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Stifel Nicolaus set a $280.00 target price on shares of Northrop Grumman and gave the company a “hold” rating in a report on Thursday, October 25th. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 target price on the stock in a report on Thursday, October 11th. Wells Fargo & Co reduced their target price on shares of Northrop Grumman from $360.00 to $340.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Finally, Citigroup reduced their target price on shares of Northrop Grumman from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $353.65.

Shares of NOC stock opened at $268.57 on Monday. Northrop Grumman Co. has a 12 month low of $251.66 and a 12 month high of $360.88. The company has a current ratio of 1.26, a quick ratio of 1.17 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $46.29 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.00 and a beta of 0.83.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $6.54 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $2.19. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same quarter in the previous year, the business posted $3.67 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. Sell-side analysts forecast that Northrop Grumman Co. will post 19.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Monday, December 3rd will be issued a $1.20 dividend. The ex-dividend date is Friday, November 30th. This represents a $4.80 dividend on an annualized basis and a yield of 1.79%. Northrop Grumman’s dividend payout ratio is currently 36.14%.

In other news, VP Sheila C. Cheston sold 10,440 shares of the company’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $320.00, for a total value of $3,340,800.00. Following the sale, the vice president now owns 43,696 shares in the company, valued at approximately $13,982,720. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Wesley G. Bush sold 10,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $274.73, for a total transaction of $2,747,300.00. Following the completion of the sale, the chairman now owns 9,600 shares in the company, valued at approximately $2,637,408. The disclosure for this sale can be found here. Insiders sold a total of 36,650 shares of company stock worth $10,873,142 in the last quarter. 0.62% of the stock is currently owned by company insiders.

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Northrop Grumman Company Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

Further Reading: NASDAQ Stock Market Explained

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC).

Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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