Northrop Grumman Corporation $NOC Shares Newly Acquired by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC bought a new position in Northrop Grumman Corporation (NYSE:NOC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 998 shares of the aerospace company’s stock, valued at approximately $483,000.

A number of other large investors have also modified their holdings of the stock. State Street Corp lifted its position in shares of Northrop Grumman by 1.3% during the second quarter. State Street Corp now owns 13,169,195 shares of the aerospace company’s stock worth $6,707,203,000 after purchasing an additional 168,267 shares in the last quarter. Sage Capital Advisors llc purchased a new position in shares of Northrop Grumman in the third quarter valued at $5,773,000. Jupiter Topco LLC acquired a new stake in Northrop Grumman during the 2nd quarter valued at $3,308,000. Bank of America Corp DE acquired a new stake in Northrop Grumman during the 2nd quarter valued at $1,298,141,000. Finally, Engineers Gate Manager LP grew its holdings in Northrop Grumman by 2,414.5% during the 2nd quarter. Engineers Gate Manager LP now owns 27,358 shares of the aerospace company’s stock valued at $13,934,000 after purchasing an additional 26,270 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Activity

In other news, Director Mark Welsh, III sold 98 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $555.65, for a total value of $54,453.70. Following the sale, the director owned 4,314 shares in the company, valued at approximately $2,397,074.10. This represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Northrop Grumman from $600.00 to $605.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. The Goldman Sachs Group raised their target price on Northrop Grumman from $533.00 to $538.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Royal Bank Of Canada lifted their target price on Northrop Grumman from $525.00 to $550.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $585.00 price target on shares of Northrop Grumman in a research note on Sunday, October 25th. Finally, Weiss Ratings upgraded Northrop Grumman from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Northrop Grumman has a consensus rating of “Moderate Buy” and an average target price of $643.74.

Northrop Grumman Stock Up 0.1%

Shares of NYSE:NOC opened at $525.71 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $519.36 and a 200 day simple moving average of $588.90. The firm has a market cap of $74.68 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 2.82 and a beta of -0.13. Northrop Grumman Corporation has a 12-month low of $470.06 and a 12-month high of $774.00.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.18 by $0.71. Northrop Grumman had a net margin of 10.37% and a return on equity of 23.46%. The firm had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $11.14 billion. During the same period in the prior year, the company posted $7.67 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts anticipate that Northrop Grumman Corporation will post 29.68 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Monday, August 31st were given a $2.47 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $9.88 annualized dividend and a dividend yield of 1.9%. Northrop Grumman’s payout ratio is presently 31.17%.

Northrop Grumman Company Profile

Northrop Grumman Corporation is a U.S.-based aerospace and defense company that develops and produces systems for government and commercial customers. Its business spans aeronautics, defense, mission technologies and space, including military aircraft, autonomous systems, missile and air-defense capabilities, sensors, communications and satellites.

The company is the prime contractor for the B-21 Raider and is developing the Sentinel intercontinental ballistic missile system. It also supplies technologies and components for other defense programs, as well as launch vehicles, propulsion systems and spacecraft.

Northrop Grumman traces its roots to Northrop Aircraft, founded in 1939, and Grumman, founded in 1930; the two companies combined in 1994.