Cetera Advisor Networks LLC grew its stake in Northrop Grumman Co. (NYSE:NOC) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,958 shares of the aerospace company’s stock after buying an additional 193 shares during the period. Cetera Advisor Networks LLC’s holdings in Northrop Grumman were worth $3,055,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of NOC. Cubist Systematic Strategies LLC raised its holdings in shares of Northrop Grumman by 35.4% in the second quarter. Cubist Systematic Strategies LLC now owns 2,676 shares of the aerospace company’s stock worth $687,000 after buying an additional 699 shares during the last quarter. Scotia Capital Inc. raised its holdings in shares of Northrop Grumman by 4.0% in the second quarter. Scotia Capital Inc. now owns 1,290 shares of the aerospace company’s stock worth $331,000 after buying an additional 50 shares during the last quarter. National Asset Management Inc. purchased a new position in shares of Northrop Grumman in the second quarter worth $205,000. Koch Industries Inc. increased its stake in shares of Northrop Grumman by 21,654.4% in the second quarter. Koch Industries Inc. now owns 207,972 shares of the aerospace company’s stock worth $207,000 after acquiring an additional 207,016 shares during the period. Finally, Advisory Services Network LLC increased its stake in shares of Northrop Grumman by 147.9% in the second quarter. Advisory Services Network LLC now owns 2,023 shares of the aerospace company’s stock worth $519,000 after acquiring an additional 1,207 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on NOC. Robert W. Baird reiterated a “buy” rating and issued a $394.00 price objective on shares of Northrop Grumman in a research note on Friday, January 26th. Royal Bank of Canada increased their price objective on shares of Northrop Grumman from $324.00 to $347.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. JPMorgan Chase & Co. upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $317.00 to $355.00 in a research note on Tuesday, December 12th. Zacks Investment Research lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, Wells Fargo & Co upgraded shares of Northrop Grumman from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 16th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $326.21.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 7.81% and a return on equity of 37.28%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $2.96 earnings per share. equities analysts expect that Northrop Grumman Co. will post 15.18 EPS for the current year.
The company 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. This represents a $4.40 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, March 2nd. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio (DPR) is currently 34.87%.
About Northrop Grumman
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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