Westpac Banking Corp lifted its stake in Northrop Grumman Co. (NYSE:NOC) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,620 shares of the aerospace company’s stock after acquiring an additional 309 shares during the period. Westpac Banking Corp’s holdings in Northrop Grumman were worth $7,136,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOC. Morgan Stanley boosted its position in Northrop Grumman by 8.1% during the first quarter. Morgan Stanley now owns 941,414 shares of the aerospace company’s stock worth $284,825,000 after purchasing an additional 70,424 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Northrop Grumman by 12.8% in the second quarter. Janney Montgomery Scott LLC now owns 73,245 shares of the aerospace company’s stock valued at $22,519,000 after purchasing an additional 8,303 shares during the last quarter. Campbell Wealth Management acquired a new stake in shares of Northrop Grumman in the second quarter valued at approximately $25,000. Winslow Evans & Crocker Inc. increased its holdings in shares of Northrop Grumman by 34.5% in the second quarter. Winslow Evans & Crocker Inc. now owns 234 shares of the aerospace company’s stock valued at $72,000 after purchasing an additional 60 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its holdings in shares of Northrop Grumman by 2.6% in the second quarter. Gulf International Bank UK Ltd now owns 13,765 shares of the aerospace company’s stock valued at $4,231,000 after purchasing an additional 346 shares during the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.
NYSE:NOC opened at $306.42 on Friday. The firm has a market cap of $51.09 billion, a PE ratio of 20.96 and a beta of 0.79. The stock has a fifty day moving average price of $308.55 and a 200 day moving average price of $321.07. Northrop Grumman Co. has a 12-month low of $263.31 and a 12-month high of $385.01. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 1.36.
Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 22nd. The aerospace company reported $5.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.60 by $0.29. The firm had revenue of $9.08 billion during the quarter, compared to analyst estimates of $8.85 billion. Northrop Grumman had a return on equity of 40.02% and a net margin of 6.94%. Northrop Grumman’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $5.49 earnings per share. Equities analysts forecast that Northrop Grumman Co. will post 22.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Monday, November 30th will be issued a $1.45 dividend. The ex-dividend date of this dividend is Friday, November 27th. This represents a $5.80 dividend on an annualized basis and a yield of 1.89%. Northrop Grumman’s dividend payout ratio (DPR) is presently 27.35%.
Several equities research analysts recently commented on NOC shares. Royal Bank of Canada raised Northrop Grumman from a “sector perform” rating to an “outperform” rating and set a $391.00 price target for the company in a report on Tuesday, October 6th. Sanford C. Bernstein increased their price target on Northrop Grumman from $405.00 to $419.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Credit Suisse Group cut their price target on Northrop Grumman from $400.00 to $390.00 in a report on Tuesday, October 13th. Morgan Stanley initiated coverage on Northrop Grumman in a research report on Tuesday, September 8th. They issued an “overweight” rating and a $470.00 price objective for the company. Finally, TheStreet upgraded Northrop Grumman from a “c” rating to a “b-” rating in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $390.73.
Northrop Grumman Profile
Northrop Grumman Corporation operates as a security company. It provides various systems, products, and solutions in autonomous systems, cyber, space, strike, and logistics and modernization, as well as in command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR) to customers in the United States and internationally.
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