Northrop Grumman Co. (NOC) Shares Sold by AGF Investments Inc.
AGF Investments Inc. decreased its stake in Northrop Grumman Co. (NYSE:NOC) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 627,923 shares of the aerospace company’s stock after selling 62,795 shares during the period. Northrop Grumman accounts for 1.9% of AGF Investments Inc.’s portfolio, making the stock its 6th largest position. AGF Investments Inc.’s holdings in Northrop Grumman were worth $192,716,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Eagle Investment Management LLC bought a new stake in Northrop Grumman during the 3rd quarter valued at $198,126,000. Capital International Investors raised its stake in Northrop Grumman by 29.4% during the 3rd quarter. Capital International Investors now owns 2,274,928 shares of the aerospace company’s stock valued at $654,542,000 after acquiring an additional 516,427 shares in the last quarter. Koch Industries Inc. raised its stake in Northrop Grumman by 21,654.4% during the 2nd quarter. Koch Industries Inc. now owns 207,972 shares of the aerospace company’s stock valued at $207,000 after acquiring an additional 207,016 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Northrop Grumman by 114.6% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 321,960 shares of the aerospace company’s stock valued at $92,634,000 after acquiring an additional 171,929 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Northrop Grumman during the 3rd quarter valued at $30,405,000. 81.23% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on NOC. Argus raised Northrop Grumman to a “buy” rating in a research note on Wednesday, February 7th. Robert W. Baird reaffirmed a “buy” rating and set a $394.00 target price on shares of Northrop Grumman in a research note on Friday, January 26th. Royal Bank of Canada set a $389.00 target price on Northrop Grumman and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Cowen reaffirmed a “hold” rating and set a $300.00 target price (up previously from $275.00) on shares of Northrop Grumman in a research note on Thursday, October 26th. Finally, Stifel Nicolaus lifted their target price on Northrop Grumman from $255.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Northrop Grumman presently has a consensus rating of “Buy” and a consensus price target of $317.47.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.07. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The company had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same period last year, the firm earned $2.96 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. sell-side analysts predict that Northrop Grumman Co. will post 15.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, March 5th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, March 2nd. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 1.32%. Northrop Grumman’s dividend payout ratio (DPR) is 34.87%.
Northrop Grumman Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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