Cetera Advisors LLC raised its position in Northrop Grumman Co. (NYSE:NOC) by 386.4% in the fourth quarter, Holdings Channel reports. The fund owned 7,524 shares of the aerospace company’s stock after buying an additional 5,977 shares during the period. Cetera Advisors LLC’s holdings in Northrop Grumman were worth $2,308,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Ropes Wealth Advisors LLC purchased a new position in Northrop Grumman in the third quarter worth approximately $144,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter worth approximately $154,000. Hanseatic Management Services Inc. lifted its position in shares of Northrop Grumman by 39.7% during the 3rd quarter. Hanseatic Management Services Inc. now owns 591 shares of the aerospace company’s stock worth $170,000 after buying an additional 168 shares during the last quarter. WFG Advisors LP lifted its position in shares of Northrop Grumman by 4.9% during the 2nd quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock worth $152,000 after buying an additional 28 shares during the last quarter. Finally, Ironwood Investment Counsel LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter worth approximately $204,000. Institutional investors own 80.56% of the company’s stock.
Several brokerages have recently weighed in on NOC. Jefferies Group upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Wednesday. Argus upgraded shares of Northrop Grumman to a “buy” rating in a research report on Wednesday, February 7th. Zacks Investment Research downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Robert W. Baird restated a “buy” rating and set a $394.00 price objective on shares of Northrop Grumman in a research report on Friday, January 26th. Finally, Cowen restated a “hold” rating and set a $310.00 price objective on shares of Northrop Grumman in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $326.21.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.75 by $0.07. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The firm had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the prior year, the firm earned $2.96 EPS. Northrop Grumman’s revenue for the quarter was up 3.7% on a year-over-year basis. equities analysts forecast that Northrop Grumman Co. will post 15.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be given a $1.10 dividend. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $4.40 annualized dividend and a yield of 1.26%. Northrop Grumman’s dividend payout ratio is 34.87%.
Northrop Grumman Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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).
Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.