BT Investment Management Ltd cut its position in shares of Northrop Grumman Co. (NYSE:NOC) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,238 shares of the aerospace company’s stock after selling 4,462 shares during the period. BT Investment Management Ltd’s holdings in Northrop Grumman were worth $16,032,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of NOC. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Northrop Grumman by 3.2% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,753 shares of the aerospace company’s stock worth $7,897,000 after purchasing an additional 805 shares in the last quarter. Ironwood Investment Counsel LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at $204,000. Stephens Inc. AR boosted its stake in Northrop Grumman by 20.5% in the 4th quarter. Stephens Inc. AR now owns 6,091 shares of the aerospace company’s stock valued at $1,869,000 after buying an additional 1,038 shares in the last quarter. Calton & Associates Inc. acquired a new stake in Northrop Grumman in the 4th quarter valued at $1,258,000. Finally, Claraphi Advisory Network LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at $490,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.
NOC has been the subject of several research analyst reports. Robert W. Baird reiterated a “buy” rating and issued a $394.00 price objective on shares of Northrop Grumman in a research report on Friday, January 26th. Royal Bank of Canada boosted their target price on Northrop Grumman from $324.00 to $347.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. JPMorgan Chase & Co. upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $317.00 to $355.00 in a research report on Tuesday, December 12th. Zacks Investment Research cut Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, Wells Fargo & Co raised Northrop Grumman from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $326.21.
Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.07. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.34 billion. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.96 earnings per share. equities research analysts forecast that Northrop Grumman Co. will post 15.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be given a dividend of $1.10 per share. The ex-dividend date is Friday, March 2nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.24%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio is currently 34.87%.
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Northrop Grumman 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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