TriaGen Wealth Management LLC grew its position in Northrop Grumman Co. (NYSE:NOC) by 109.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,193 shares of the aerospace company’s stock after purchasing an additional 624 shares during the quarter. TriaGen Wealth Management LLC’s holdings in Northrop Grumman were worth $430,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Northrop Grumman in the second quarter valued at approximately $28,000. Tompkins Financial Corp acquired a new stake in shares of Northrop Grumman in the third quarter worth $32,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of Northrop Grumman in the second quarter worth $33,000. Strategic Asset Management LLC acquired a new stake in Northrop Grumman during the third quarter worth $38,000. Finally, Canton Hathaway LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter valued at $40,000. 82.06% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on NOC. Jefferies Financial Group cut Northrop Grumman from a “buy” rating to a “hold” rating and set a $410.00 price target for the company. in a report on Wednesday, January 5th. Susquehanna Bancshares lowered their price target on Northrop Grumman from $424.00 to $416.00 and set a “positive” rating for the company in a research note on Friday, October 29th. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $392.00 price target for the company in a research note on Wednesday, October 6th. Vertical Research cut Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Friday, October 29th. Finally, UBS Group decreased their price objective on Northrop Grumman from $380.00 to $350.00 and set a “neutral” rating for the company in a research report on Friday, October 29th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $404.75.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 28th. The aerospace company reported $6.63 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.70. Northrop Grumman had a return on equity of 39.17% and a net margin of 12.42%. The business had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the prior year, the business earned $5.89 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts predict that Northrop Grumman Co. will post 25.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Monday, November 29th were given a dividend of $1.57 per share. This represents a $6.28 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, November 26th. Northrop Grumman’s payout ratio is 22.07%.
In other news, VP Mark A. Caylor sold 427 shares of the stock in a transaction on Wednesday, December 8th. The stock was sold at an average price of $363.54, for a total transaction of $155,231.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karl J. Krapek sold 2,800 shares of the stock in a transaction on Thursday, November 11th. The stock was sold at an average price of $357.25, for a total value of $1,000,300.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
Northrop Grumman Profile
Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.
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