Highland Capital Management LLC cut its position in Northrop Grumman Corp. (NYSE:NOC) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,729 shares of the company’s stock after selling 100 shares during the period. Highland Capital Management LLC’s holdings in Northrop Grumman Corp. were worth $2,509,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. CenturyLink Investment Management Co raised its stake in Northrop Grumman Corp. by 17.9% in the third quarter. CenturyLink Investment Management Co now owns 1,495 shares of the company’s stock worth $320,000 after buying an additional 227 shares during the last quarter. Capstone Asset Management Co. raised its stake in Northrop Grumman Corp. by 7.7% in the third quarter. Capstone Asset Management Co. now owns 18,004 shares of the company’s stock worth $3,852,000 after buying an additional 1,290 shares during the last quarter. Bristlecone Advisors LLC acquired a new stake in Northrop Grumman Corp. during the third quarter worth $1,999,000. Raymond James Trust N.A. raised its stake in Northrop Grumman Corp. by 0.5% in the third quarter. Raymond James Trust N.A. now owns 4,150 shares of the company’s stock worth $888,000 after buying an additional 22 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Northrop Grumman Corp. by 13.6% in the third quarter. Fisher Asset Management LLC now owns 1,870 shares of the company’s stock worth $400,000 after buying an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.
Shares of Northrop Grumman Corp. (NYSE:NOC) traded up 0.15% during midday trading on Monday, hitting $248.96. 893,944 shares of the stock were exchanged. The firm has a market cap of $43.88 billion, a PE ratio of 21.25 and a beta of 0.66. The firm has a 50-day moving average price of $231.40 and a 200 day moving average price of $219.89. Northrop Grumman Corp. has a 12-month low of $175.00 and a 12-month high of $253.09.
Northrop Grumman Corp. (NYSE:NOC) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.54. The company had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Northrop Grumman Corp. had a net margin of 8.96% and a return on equity of 34.10%. Northrop Grumman Corp.’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.75 EPS. Analysts predict that Northrop Grumman Corp. will post $11.72 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Monday, December 5th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $3.60 annualized dividend and a yield of 1.45%. Northrop Grumman Corp.’s dividend payout ratio is currently 30.72%.
A number of analysts have recently weighed in on the stock. Wells Fargo & Co. reiterated a “hold” rating on shares of Northrop Grumman Corp. in a research note on Monday, November 14th. Vetr raised shares of Northrop Grumman Corp. from a “sell” rating to a “hold” rating and set a $251.18 price target on the stock in a report on Thursday, November 10th. Barclays PLC raised shares of Northrop Grumman Corp. from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $230.00 to $270.00 in a report on Thursday, November 10th. Jefferies Group reissued a “buy” rating and set a $260.00 price target (up from $250.00) on shares of Northrop Grumman Corp. in a report on Friday, October 28th. Finally, Vertical Research initiated coverage on shares of Northrop Grumman Corp. in a report on Friday, October 28th. They set a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Northrop Grumman Corp. has a consensus rating of “Buy” and a consensus price target of $236.16.
In other Northrop Grumman Corp. news, VP Christopher T. Jones sold 240 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $212.20, for a total value of $50,928.00. Following the transaction, the vice president now directly owns 47,780 shares of the company’s stock, valued at approximately $10,138,916. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wesley G. Bush sold 35,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $228.37, for a total transaction of $7,992,950.00. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
Northrop Grumman Corp. Company Profile
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.