Campbell Newman Asset Management Inc. boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 45,104 shares of the aerospace company’s stock after purchasing an additional 121 shares during the quarter. Northrop Grumman accounts for about 1.7% of Campbell Newman Asset Management Inc.’s holdings, making the stock its 26th biggest position. Campbell Newman Asset Management Inc.’s holdings in Northrop Grumman were worth $16,244,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NOC. Centerpoint Advisors LLC acquired a new position in shares of Northrop Grumman in the second quarter worth about $27,000. D Orazio & Associates Inc. lifted its position in shares of Northrop Grumman by 141.9% in the 2nd quarter. D Orazio & Associates Inc. now owns 75 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 44 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman in the 2nd quarter worth approximately $28,000. North Star Investment Management Corp. grew its position in Northrop Grumman by 56.1% during the 2nd quarter. North Star Investment Management Corp. now owns 89 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in Northrop Grumman during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.
In related news, Director Karl J. Krapek sold 2,800 shares of the company’s stock in a transaction dated Thursday, November 11th. The shares were sold at an average price of $357.25, for a total value of $1,000,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.
Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 28th. The aerospace company reported $6.63 EPS for the quarter, topping the consensus estimate of $5.93 by $0.70. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Northrop Grumman had a return on equity of 39.17% and a net margin of 12.42%. Northrop Grumman’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business earned $5.89 earnings per share. On average, sell-side analysts predict that Northrop Grumman Co. will post 25.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Monday, November 29th will be given a dividend of $1.57 per share. The ex-dividend date of this dividend is Friday, November 26th. This represents a $6.28 annualized dividend and a dividend yield of 1.77%. Northrop Grumman’s dividend payout ratio (DPR) is currently 22.07%.
A number of research analysts have recently weighed in on NOC shares. Jefferies Financial Group reiterated a “buy” rating and set a $410.00 price target on shares of Northrop Grumman in a report on Monday, November 1st. Susquehanna Bancshares decreased their price objective on shares of Northrop Grumman from $424.00 to $416.00 and set a “positive” rating for the company in a report on Friday, October 29th. Wolfe Research lowered their price target on Northrop Grumman from $466.00 to $437.00 and set an “outperform” rating on the stock in a report on Friday, October 29th. Susquehanna lowered their price target on Northrop Grumman from $424.00 to $416.00 and set a “positive” rating on the stock in a research report on Friday, October 29th. Finally, Morgan Stanley lowered their price objective on shares of Northrop Grumman from $478.00 to $440.00 and set an “overweight” rating on the stock in a research note on Thursday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $394.15.
Northrop Grumman Profile
Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.
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