Arrowstreet Capital Limited Partnership cut its position in shares of Northrop Grumman Co. (NYSE:NOC) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 782,030 shares of the aerospace company’s stock after selling 2,109 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Northrop Grumman were worth $240,013,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ropes Wealth Advisors LLC bought a new stake in shares of Northrop Grumman during the third quarter valued at approximately $144,000. Crewe Advisors LLC bought a new stake in Northrop Grumman in the fourth quarter worth $159,000. Moisand Fitzgerald Tamayo LLC bought a new stake in Northrop Grumman in the third quarter worth $154,000. Hanseatic Management Services Inc. boosted its holdings in Northrop Grumman by 39.7% in the third quarter. Hanseatic Management Services Inc. now owns 591 shares of the aerospace company’s stock worth $170,000 after acquiring an additional 168 shares in the last quarter. Finally, Ironwood Investment Counsel LLC bought a new stake in Northrop Grumman in the fourth quarter worth $204,000. Institutional investors own 80.56% of the company’s stock.
Several equities research analysts have commented on NOC shares. Zacks Investment Research downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Bank of America set a $350.00 target price on Northrop Grumman and gave the stock a “buy” rating in a report on Friday, October 27th. ValuEngine raised Northrop Grumman from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. JPMorgan Chase & Co. raised Northrop Grumman from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $317.00 to $355.00 in a report on Tuesday, December 12th. Finally, Royal Bank of Canada set a $374.00 target price on Northrop Grumman and gave the stock a “buy” rating in a report on Thursday, November 16th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $326.21.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.07. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.34 billion. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.96 earnings per share. analysts predict that Northrop Grumman Co. will post 15.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, March 5th will be issued a dividend of $1.10 per share. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, March 2nd. Northrop Grumman’s dividend payout ratio is presently 30.35%.
In other news, VP Denise M. Peppard sold 2,539 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $335.12, for a total transaction of $850,869.68. Following the transaction, the vice president now directly owns 38,613 shares of the company’s stock, valued at $12,939,988.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.
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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.
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