Prestige Wealth Management Group LLC acquired a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 372 shares of the aerospace company’s stock, valued at approximately $120,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Krane Funds Advisors LLC bought a new position in shares of Northrop Grumman in the second quarter worth $26,000. Glassman Wealth Services boosted its holdings in shares of Northrop Grumman by 203.0% in the first quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 67 shares during the period. Massey Quick Simon & CO. LLC bought a new position in shares of Northrop Grumman in the second quarter worth $27,000. Meridian Wealth Management LLC bought a new position in shares of Northrop Grumman in the first quarter worth $29,000. Finally, Virtus ETF Advisers LLC bought a new position in shares of Northrop Grumman in the second quarter worth $30,000. 83.09% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on NOC shares. Morgan Stanley raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $335.00 to $418.00 in a report on Tuesday, August 6th. Bank of America reaffirmed a “buy” rating and issued a $405.00 price target (up from $355.00) on shares of Northrop Grumman in a report on Thursday, July 25th. Robert W. Baird raised their price target on Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Sanford C. Bernstein raised their price target on Northrop Grumman from $344.00 to $368.00 in a report on Thursday, July 25th. Finally, UBS Group raised their price target on Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $347.60.
NYSE:NOC traded up $8.13 during trading hours on Thursday, hitting $383.14. 709,197 shares of the company’s stock traded hands, compared to its average volume of 950,974. The firm has a market cap of $63.68 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.51 and a beta of 0.79. Northrop Grumman Co. has a 52 week low of $223.63 and a 52 week high of $380.46. The business’s fifty day simple moving average is $367.31 and its two-hundred day simple moving average is $318.76. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.64 by $0.42. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.41 billion. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the company earned $4.50 earnings per share. On average, analysts expect that Northrop Grumman Co. will post 19.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Monday, September 9th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, September 6th. Northrop Grumman’s dividend payout ratio is 24.75%.
About Northrop Grumman
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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