TIAA FSB trimmed its position in Northrop Grumman Co. (NYSE:NOC) by 2.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,134 shares of the aerospace company’s stock after selling 714 shares during the period. TIAA FSB’s holdings in Northrop Grumman were worth $10,169,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Salem Investment Counselors Inc. grew its stake in Northrop Grumman by 1.2% in the second quarter. Salem Investment Counselors Inc. now owns 812 shares of the aerospace company’s stock worth $208,000 after purchasing an additional 10 shares in the last quarter. Cetera Investment Advisers grew its stake in Northrop Grumman by 0.8% in the second quarter. Cetera Investment Advisers now owns 1,278 shares of the aerospace company’s stock worth $328,000 after purchasing an additional 10 shares in the last quarter. WFG Advisors LP grew its stake in Northrop Grumman by 4.9% in the second quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock worth $152,000 after purchasing an additional 28 shares in the last quarter. People s United Financial Inc. grew its stake 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 in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Northrop Grumman by 7.8% in the second quarter. Quadrant Capital Group LLC now owns 636 shares of the aerospace company’s stock worth $147,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.
NOC has been the subject of a number of research reports. Royal Bank of Canada lifted their price target on Northrop Grumman from $324.00 to $347.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Goldman Sachs Group set a $320.00 target price on Northrop Grumman and gave the company a “buy” rating in a research note on Thursday, October 26th. Cowen restated a “hold” rating and issued a $300.00 target price (up from $275.00) on shares of Northrop Grumman in a research note on Thursday, October 26th. Stifel Nicolaus lifted their target price on Northrop Grumman from $255.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Finally, Bank of America set a $350.00 target price on Northrop Grumman and gave the company a “buy” rating in a research note on Friday, October 27th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $317.47.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.75 by $0.07. The company had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.34 billion. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.96 earnings per share. sell-side analysts forecast that Northrop Grumman Co. will post 15.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, March 5th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, March 2nd. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s payout ratio is 34.87%.
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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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