Northrop Grumman Co. (NOC) Stake Lowered by Dana Investment Advisors Inc.
Dana Investment Advisors Inc. lessened its position in Northrop Grumman Co. (NYSE:NOC) by 13.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,615 shares of the aerospace company’s stock after selling 720 shares during the period. Dana Investment Advisors Inc.’s holdings in Northrop Grumman were worth $1,130,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at $27,000. Athena Capital Advisors LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at $31,000. Gantzert Investment Co. LLC ADV acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at $32,000. Penserra Capital Management LLC boosted its stake in shares of Northrop Grumman by 31.3% in the 4th quarter. Penserra Capital Management LLC now owns 168 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 40 shares in the last quarter. Finally, First Mercantile Trust Co. acquired a new position in Northrop Grumman during the 4th quarter worth about $47,000. Institutional investors own 84.13% of the company’s stock.
NOC has been the topic of several research reports. Citigroup reduced their price target on shares of Northrop Grumman from $350.00 to $333.00 and set a “buy” rating on the stock in a research report on Monday, January 14th. Credit Suisse Group reiterated a “buy” rating on shares of Northrop Grumman in a research report on Thursday, January 31st. Barclays reduced their price target on shares of Northrop Grumman from $400.00 to $310.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 4th. Goldman Sachs Group downgraded shares of Northrop Grumman from a “conviction-buy” rating to a “buy” rating in a research report on Friday, February 1st. Finally, Susquehanna Bancshares initiated coverage on shares of Northrop Grumman in a research report on Thursday, January 10th. They set a “neutral” rating and a $273.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Northrop Grumman currently has an average rating of “Buy” and an average price target of $336.39.
Shares of NYSE:NOC opened at $271.21 on Friday. The stock has a market cap of $47.38 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.13 and a beta of 0.89. Northrop Grumman Co. has a 1-year low of $223.63 and a 1-year high of $360.88. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.17 and a quick ratio of 1.09.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 31st. The aerospace company reported $4.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.45 by $0.48. The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.11 billion. Northrop Grumman had a return on equity of 41.24% and a net margin of 9.73%. During the same period in the previous year, the business posted $2.82 EPS. As a group, sell-side analysts expect that Northrop Grumman Co. will post 18.94 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 25th were issued a dividend of $1.20 per share. The ex-dividend date was Friday, February 22nd. This represents a $4.80 annualized dividend and a yield of 1.77%. Northrop Grumman’s dividend payout ratio is currently 22.50%.
Northrop Grumman announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 4th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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Northrop Grumman Profile
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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