Grandview Asset Management LLC acquired a new stake in Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,329 shares of the aerospace company’s stock, valued at approximately $2,530,000. Northrop Grumman accounts for approximately 2.7% of Grandview Asset Management LLC’s investment portfolio, making the stock its 9th largest holding.
A number of other institutional investors and hedge funds have also modified their holdings of NOC. Capital International Investors boosted its stake in shares of Northrop Grumman by 67.0% in the third quarter. Capital International Investors now owns 4,525,421 shares of the aerospace company’s stock worth $1,436,233,000 after acquiring an additional 1,816,321 shares during the last quarter. Capital World Investors lifted its position in Northrop Grumman by 40.4% during the third quarter. Capital World Investors now owns 4,751,070 shares of the aerospace company’s stock worth $1,507,847,000 after buying an additional 1,367,045 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Northrop Grumman by 15.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,716,917 shares of the aerospace company’s stock worth $1,497,008,000 after buying an additional 614,356 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Northrop Grumman by 5,821.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 263,566 shares of the aerospace company’s stock worth $64,547,000 after buying an additional 259,115 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in Northrop Grumman by 10.1% during the third quarter. Macquarie Group Ltd. now owns 2,399,262 shares of the aerospace company’s stock worth $761,454,000 after buying an additional 221,020 shares in the last quarter. 87.31% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on NOC. ValuEngine downgraded Northrop Grumman from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Argus restated a “buy” rating on shares of Northrop Grumman in a research report on Friday, February 1st. Stifel Nicolaus set a $280.00 target price on Northrop Grumman and gave the company a “hold” rating in a research report on Thursday, October 25th. Citigroup reduced their target price on Northrop Grumman from $350.00 to $333.00 and set a “buy” rating on the stock in a research report on Monday, January 14th. Finally, Susquehanna Bancshares started coverage on Northrop Grumman in a research report on Thursday, January 10th. They issued a “neutral” rating and a $273.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $336.94.
Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 31st. The aerospace company reported $4.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.45 by $0.48. Northrop Grumman had a return on equity of 41.24% and a net margin of 9.73%. The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the previous year, the firm posted $2.82 EPS. As a group, research analysts forecast that Northrop Grumman Co. will post 18.98 EPS for the current fiscal year.
Northrop Grumman declared that its board has initiated a stock buyback program on Tuesday, December 4th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to purchase up to 6.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
Northrop Grumman Profile
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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