Prudential Financial Inc. decreased its position in Northrop Grumman (NYSE:NOC) by 44.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 228,935 shares of the aerospace companys stock after selling 181,630 shares during the period. Prudential Financial Inc. owned approximately 0.13% of Northrop Grumman worth $79,926,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp lifted its position in Northrop Grumman by 5.3% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 23,057 shares of the aerospace companys stock worth $7,076,000 after buying an additional 1,154 shares in the last quarter. Appleton Partners Inc. MA raised its holdings in shares of Northrop Grumman by 7.3% in the 4th quarter. Appleton Partners Inc. MA now owns 4,242 shares of the aerospace companys stock valued at $1,302,000 after purchasing an additional 289 shares during the period. Starfire Investment Advisers Inc. bought a new stake in shares of Northrop Grumman in the 4th quarter valued at about $279,000. Davis R M Inc. raised its holdings in shares of Northrop Grumman by 5.1% in the 4th quarter. Davis R M Inc. now owns 45,578 shares of the aerospace companys stock valued at $13,988,000 after purchasing an additional 2,201 shares during the period. Finally, National Pension Service raised its holdings in shares of Northrop Grumman by 2.3% in the 4th quarter. National Pension Service now owns 147,903 shares of the aerospace companys stock valued at $45,393,000 after purchasing an additional 3,370 shares during the period. 81.63% of the stock is owned by institutional investors.
NOC has been the topic of a number of research reports. Goldman Sachs Group lowered shares of Northrop Grumman from a conviction-buy rating to a buy rating and set a $395.00 price target on the stock. in a research note on Tuesday, February 20th. Citigroup restated a buy rating and set a $405.00 target price on shares of Northrop Grumman in a research report on Monday, March 12th. Morgan Stanley restated an equal weight rating and set a $365.00 target price (up previously from $336.00) on shares of Northrop Grumman in a research report on Friday, February 23rd. Zacks Investment Research upgraded shares of Northrop Grumman from a hold rating to a buy rating and set a $386.00 target price on the stock in a research report on Thursday, March 29th. Finally, Barclays began coverage on shares of Northrop Grumman in a research report on Thursday, March 29th. They set an overweight rating and a $400.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the companys stock. The stock currently has a consensus rating of Buy and a consensus price target of $364.29.
In other news, VP Michael A. Hardesty sold 1,296 shares of the businesss stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $353.20, for a total value of $457,747.20. Following the sale, the vice president now owns 6,677 shares of the companys stock, valued at $2,358,316.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Janis G. Pamiljans sold 955 shares of the businesss stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $338.85, for a total transaction of $323,601.75. Following the transaction, the vice president now directly owns 10,466 shares of the companys stock, valued at approximately $3,546,404.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,819 shares of company stock worth $1,336,891. Insiders own 0.62% of the companys stock.
Shares of NYSE NOC opened at $328.23 on Thursday. The stock has a market cap of $56.59 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 2.23 and a beta of 0.78. Northrop Grumman has a 1 year low of $251.00 and a 1 year high of $360.88. The company has a quick ratio of 2.45, a current ratio of 2.52 and a debt-to-equity ratio of 1.87.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, April 25th. The aerospace company reported $4.21 earnings per share for the quarter, beating analysts consensus estimates of $3.63 by $0.58. Northrop Grumman had a net margin of 8.05% and a return on equity of 35.83%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the firm earned $3.63 earnings per share. The firms revenue was up 7.5% on a year-over-year basis. research analysts anticipate that Northrop Grumman will post 15.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Monday, June 4th will be given a $1.20 dividend. This is a positive change from Northrop Grummans previous quarterly dividend of $1.10. The ex-dividend date is Friday, June 1st. This represents a $4.80 annualized dividend and a yield of 1.46%. Northrop Grummans payout ratio is currently 33.13%.
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