NewEdge Wealth LLC Lowers Holdings in Northrop Grumman Co. (NYSE:NOC)

NewEdge Wealth LLC trimmed its holdings in Northrop Grumman Co. (NYSE:NOCFree Report) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,839 shares of the aerospace company’s stock after selling 345 shares during the period. NewEdge Wealth LLC’s holdings in Northrop Grumman were worth $2,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital International Investors grew its stake in shares of Northrop Grumman by 1.3% in the second quarter. Capital International Investors now owns 12,180,981 shares of the aerospace company’s stock worth $5,551,445,000 after purchasing an additional 152,274 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Northrop Grumman by 12.5% during the second quarter. JPMorgan Chase & Co. now owns 4,077,676 shares of the aerospace company’s stock valued at $1,858,605,000 after buying an additional 452,166 shares in the last quarter. Capital World Investors boosted its stake in Northrop Grumman by 16.6% during the second quarter. Capital World Investors now owns 3,708,452 shares of the aerospace company’s stock valued at $1,690,312,000 after buying an additional 528,377 shares in the last quarter. Morgan Stanley boosted its stake in Northrop Grumman by 3.5% during the fourth quarter. Morgan Stanley now owns 3,353,108 shares of the aerospace company’s stock valued at $1,829,490,000 after buying an additional 114,823 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Northrop Grumman by 1.9% during the second quarter. Geode Capital Management LLC now owns 2,769,929 shares of the aerospace company’s stock valued at $1,259,133,000 after buying an additional 52,321 shares in the last quarter. Institutional investors own 82.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NOC shares. UBS Group started coverage on Northrop Grumman in a research note on Tuesday, October 10th. They set a “buy” rating and a $555.00 target price for the company. Deutsche Bank Aktiengesellschaft cut Northrop Grumman from a “buy” rating to a “hold” rating and decreased their target price for the company from $541.00 to $473.00 in a research note on Friday, December 15th. Susquehanna decreased their target price on Northrop Grumman from $560.00 to $540.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Robert W. Baird reduced their target price on Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $450.00 target price (down from $515.00) on shares of Northrop Grumman in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $494.00.

View Our Latest Stock Analysis on Northrop Grumman

Northrop Grumman Stock Down 1.0 %

Shares of Northrop Grumman stock opened at $442.28 on Tuesday. The stock has a 50-day moving average price of $466.44 and a 200 day moving average price of $455.70. The company has a market cap of $66.36 billion, a P/E ratio of 32.81, a P/E/G ratio of 5.97 and a beta of 0.35. The company has a current ratio of 1.15, a quick ratio of 1.05 and a debt-to-equity ratio of 0.93. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $496.89.

Northrop Grumman (NYSE:NOCGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.47. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.43 billion. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $7.50 EPS. As a group, analysts expect that Northrop Grumman Co. will post 24.52 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Monday, November 27th were paid a $1.87 dividend. This represents a $7.48 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Friday, November 24th. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

Northrop Grumman Profile

(Free Report)

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems in the United States and internationally. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.

Further Reading

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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