Northrop Grumman Corporation $NOC Shares Bought by Fusion Capital LLC

Key Points

• Fusion Capital increased its Northrop Grumman stake by 28.5% in the third quarter, adding 2,325 shares to hold 10,475 shares valued at approximately $5.1 million. Institutional investors collectively own 83.4% of the company.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $643.74; individual targets range from $550 to $655.
• Northrop Grumman exceeded quarterly earnings expectations, reporting $7.89 in EPS versus the $7.18 consensus estimate, while revenue rose 6.7% year over year to $11.12 billion. The company also pays a quarterly dividend of $2.47 per share, representing a 1.8% annualized yield.

Fusion Capital LLC raised its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 28.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,475 shares of the aerospace company's stock after buying an additional 2,325 shares during the quarter. Northrop Grumman comprises 1.1% of Fusion Capital LLC's portfolio, making the stock its 26th biggest holding. Fusion Capital LLC's holdings in Northrop Grumman were worth $5,065,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC increased its position in Northrop Grumman by 380.0% in the first quarter. Whipplewood Advisors LLC now owns 48 shares of the aerospace company's stock worth $33,000 after purchasing an additional 38 shares during the last quarter. Perkins Coie Trust Co purchased a new position in shares of Northrop Grumman in the 2nd quarter worth $29,000. Plato Investment Management Ltd purchased a new position in shares of Northrop Grumman in the 2nd quarter worth $30,000. Navigoe LLC purchased a new position in shares of Northrop Grumman in the 2nd quarter worth $30,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Northrop Grumman in the 1st quarter worth about $42,000. Institutional investors own 83.40% of the company's stock.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, Director Mark Welsh, III sold 95 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $547.53, for a total value of $52,015.35. Following the completion of the sale, the director directly owned 4,393 shares of the company's stock, valued at $2,405,299.29. The trade was a 2.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Susquehanna reduced their price objective on Northrop Grumman from $785.00 to $655.00 and set a "positive" rating on the stock in a research note on Wednesday, July 22nd. Guggenheim lifted their target price on Northrop Grumman from $612.00 to $640.00 and gave the stock a "buy" rating in a report on Wednesday, October 21st. Jefferies Financial Group reissued a "hold" rating and set a $585.00 target price on shares of Northrop Grumman in a research report on Sunday, October 25th. Royal Bank Of Canada boosted their target price on Northrop Grumman from $525.00 to $550.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 21st. Finally, Weiss Ratings upgraded Northrop Grumman from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $643.74.

Northrop Grumman Price Performance

NOC opened at $558.79 on Friday. The business has a fifty day moving average of $520.51 and a 200 day moving average of $591.78. The stock has a market cap of $79.38 billion, a P/E ratio of 19.43, a PEG ratio of 3.02 and a beta of -0.11. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.77. Northrop Grumman Corporation has a 52-week low of $470.06 and a 52-week high of $774.00.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its earnings results on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share for the quarter, topping the consensus estimate of $7.18 by $0.71. The business had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $11.14 billion. Northrop Grumman had a return on equity of 23.46% and a net margin of 10.37%. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $7.67 earnings per share. As a group, sell-side analysts anticipate that Northrop Grumman Corporation will post 29.63 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Monday, August 31st were issued a dividend of $2.47 per share. The ex-dividend date was Monday, August 31st. This represents a $9.88 dividend on an annualized basis and a yield of 1.8%. Northrop Grumman's dividend payout ratio (DPR) is presently 31.17%.

Northrop Grumman Profile

Northrop Grumman Corporation NYSE: NOC is a global aerospace and defense company that develops and produces systems for government and commercial customers, with the U.S. government representing its primary customer base. The company operates across aerospace, defense, space, cybersecurity and advanced technology markets.

Its products and services include military aircraft and autonomous systems, space systems and satellites, missile defense technologies, command-and-control systems, cyber solutions, sensors, communications networks and other mission-critical systems.

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