Blue Fin Capital Inc. grew its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,423 shares of the aerospace company’s stock after acquiring an additional 106 shares during the period. Blue Fin Capital Inc.’s holdings in Northrop Grumman were worth $769,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Belpointe Asset Management LLC bought a new stake in Northrop Grumman during the third quarter valued at about $111,000. Fort L.P. acquired a new stake in shares of Northrop Grumman during the second quarter worth approximately $117,000. Virtus Alternative Investment Advisers Inc. acquired a new stake in shares of Northrop Grumman during the third quarter worth approximately $126,000. WESPAC Advisors SoCal LLC acquired a new stake in shares of Northrop Grumman during the third quarter worth approximately $126,000. Finally, Stelac Advisory Services LLC acquired a new stake in shares of Northrop Grumman during the third quarter worth approximately $136,000. Institutional investors and hedge funds own 82.79% of the company’s stock.
Several analysts have recently weighed in on NOC shares. Drexel Hamilton reaffirmed a “buy” rating and set a $335.00 price objective on shares of Northrop Grumman in a report on Wednesday, December 19th. Citigroup reduced their price objective on shares of Northrop Grumman from $370.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, October 25th. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 price objective on the stock in a research note on Thursday, October 11th. Jefferies Financial Group cut their target price on shares of Northrop Grumman from $400.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Finally, Morgan Stanley dropped their price objective on shares of Northrop Grumman from $346.00 to $318.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $343.16.
In related news, VP Lesley A. Kalan sold 4,158 shares of the stock in a transaction on Monday, November 12th. The shares were sold at an average price of $285.58, for a total transaction of $1,187,441.64. Following the transaction, the vice president now directly owns 10,752 shares of the company’s stock, valued at $3,070,556.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Wesley G. Bush sold 10,000 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $274.73, for a total transaction of $2,747,300.00. Following the transaction, the chairman now directly owns 9,600 shares in the company, valued at $2,637,408. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,530 shares of company stock worth $4,588,557. Insiders own 0.62% of the company’s stock.
Shares of NYSE:NOC traded down $3.30 during midday trading on Friday, hitting $254.36. The stock had a trading volume of 22,210 shares, compared to its average volume of 1,226,419. The stock has a market capitalization of $43.78 billion, a PE ratio of 19.14, a PEG ratio of 1.19 and a beta of 0.81. Northrop Grumman Co. has a fifty-two week low of $223.63 and a fifty-two week high of $360.88. The company has a current ratio of 1.26, a quick ratio of 1.17 and a debt-to-equity ratio of 1.53.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.35 by $2.19. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same period in the previous year, the firm posted $3.67 EPS. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, research analysts predict that Northrop Grumman Co. will post 19.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 19th. Stockholders of record on Monday, December 3rd were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, November 30th. Northrop Grumman’s dividend payout ratio is currently 36.14%.
Northrop Grumman declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 4th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 6.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are 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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