Janney Montgomery Scott LLC Raises Position in Northrop Grumman Co. (NOC)
Janney Montgomery Scott LLC boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,686 shares of the aerospace company’s stock after buying an additional 186 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Northrop Grumman were worth $5,664,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of NOC. Hanseatic Management Services Inc. grew its holdings in Northrop Grumman by 12.8% in the second quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 48 shares during the last quarter. First Personal Financial Services grew its holdings in Northrop Grumman by 39.0% in the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after purchasing an additional 121 shares during the last quarter. Pittenger & Anderson Inc. grew its holdings in Northrop Grumman by 28.6% in the second quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 100 shares during the last quarter. People s United Financial Inc. grew its holdings in Northrop Grumman by 9.2% in the second quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after purchasing an additional 40 shares during the last quarter. Finally, Ropes Wealth Advisors LLC purchased a new position in Northrop Grumman in the third quarter worth $144,000. 81.33% of the stock is currently owned by institutional investors.
NOC has been the topic of several analyst reports. Zacks Investment Research lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Royal Bank of Canada set a $294.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a report on Tuesday, August 29th. Bank of America set a $350.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a report on Friday, October 27th. Deutsche Bank reaffirmed a “buy” rating and issued a $325.00 price target (up from $285.00) on shares of Northrop Grumman in a report on Monday, October 2nd. Finally, Goldman Sachs Group set a $320.00 price objective on shares of Northrop Grumman and gave the stock a “buy” rating in a research note on Thursday, October 26th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $298.67.
In related news, COO Gloria A. Flach sold 7,741 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $296.45, for a total transaction of $2,294,819.45. Following the completion of the transaction, the chief operating officer now directly owns 77,200 shares in the company, valued at $22,885,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Denise M. Peppard sold 2,328 shares of the business’s stock in a transaction 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 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 have sold 21,417 shares of company stock valued at $6,365,189 over the last 90 days. 0.70% of the stock is currently owned by insiders.
Northrop Grumman Co. (NYSE NOC) traded up $1.18 during midday trading on Thursday, reaching $308.46. 746,300 shares of the company were exchanged, compared to its average volume of 780,959. The firm has a market capitalization of $53,490.84, a P/E ratio of 23.42, a PEG ratio of 3.09 and a beta of 0.69. Northrop Grumman Co. has a 52 week low of $223.88 and a 52 week high of $311.08. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.76. The company had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.33 billion. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.35 earnings per share. equities analysts predict that Northrop Grumman Co. will post 13.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 4th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.30%. Northrop Grumman’s dividend payout ratio is presently 29.81%.
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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