U S Global Investors Inc. Purchases New Stake in Northrop Grumman Co. (NOC)
U S Global Investors Inc. purchased a new stake in Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,000 shares of the aerospace company’s stock, valued at approximately $575,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in NOC. Janus Henderson Group PLC lifted its position in shares of Northrop Grumman by 41,518.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock worth $749,585,000 after buying an additional 2,912,953 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $198,126,000. Capital International Investors lifted its position in shares of Northrop Grumman by 29.4% during the 3rd quarter. Capital International Investors now owns 2,274,928 shares of the aerospace company’s stock worth $654,542,000 after buying an additional 516,427 shares in the last quarter. HPM Partners LLC lifted its position in shares of Northrop Grumman by 23,412.0% during the 2nd quarter. HPM Partners LLC now owns 292,019 shares of the aerospace company’s stock worth $28,387,000 after buying an additional 290,777 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Northrop Grumman by 25.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,245,400 shares of the aerospace company’s stock worth $319,707,000 after buying an additional 256,200 shares in the last quarter. 81.33% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Denise M. Peppard sold 5,037 shares of Northrop Grumman stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $295.67, for a total value of $1,489,289.79. Following the completion of the transaction, the vice president now directly owns 58,186 shares in the company, valued at approximately $17,203,854.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Denise M. Peppard sold 2,328 shares of Northrop Grumman stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $300.86, for a total transaction of $700,402.08. Following the completion of the transaction, the vice president now owns 28,553 shares of the company’s stock, valued at $8,590,455.58. The disclosure for this sale can be found here. Insiders sold a total of 21,417 shares of company stock valued at $6,365,189 over the last quarter. 0.70% of the stock is owned by company insiders.
NOC has been the topic of several recent analyst reports. Royal Bank Of Canada set a $294.00 target price on shares of Northrop Grumman and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $305.00 price target on the stock in a report on Tuesday, September 5th. Vertical Research reaffirmed a “buy” rating and issued a $296.00 price target (up previously from $280.00) on shares of Northrop Grumman in a report on Wednesday, September 20th. Deutsche Bank reaffirmed a “buy” rating and issued a $325.00 price target (up previously from $285.00) on shares of Northrop Grumman in a report on Monday, October 2nd. Finally, Goldman Sachs Group set a $320.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a report on Thursday, October 26th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $294.65.
Northrop Grumman Co. (NYSE:NOC) traded up $2.99 during trading hours on Monday, hitting $305.67. 684,300 shares of the company were exchanged, compared to its average volume of 780,721. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.05. The company has a market cap of $53,210.57, a PE ratio of 23.30, a PEG ratio of 3.08 and a beta of 0.69. Northrop Grumman Co. has a 52 week low of $220.72 and a 52 week high of $309.76.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.76. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The company had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the previous year, the firm posted $3.35 EPS. Northrop Grumman’s revenue was up 6.0% on a year-over-year basis. sell-side analysts anticipate that Northrop Grumman Co. will post 13.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 4th will be paid a $1.00 dividend. The ex-dividend date is Friday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.31%. Northrop Grumman’s dividend payout ratio is 29.81%.
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Northrop Grumman Company 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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