Northrop Grumman Co. (NOC) Stake Lowered by Oakmont Corp
Oakmont Corp trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 45.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,767 shares of the aerospace company’s stock after selling 83,305 shares during the period. Northrop Grumman comprises approximately 4.5% of Oakmont Corp’s investment portfolio, making the stock its 11th largest holding. Oakmont Corp’s holdings in Northrop Grumman were worth $30,926,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOC. Ropes Wealth Advisors LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at about $144,000. WFG Advisors LP raised its stake in Northrop Grumman by 4.9% in the 2nd quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock valued at $152,000 after acquiring an additional 28 shares during the period. Moisand Fitzgerald Tamayo LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at about $154,000. Hanseatic Management Services Inc. raised its stake in Northrop Grumman by 39.7% in the 3rd quarter. Hanseatic Management Services Inc. now owns 591 shares of the aerospace company’s stock valued at $170,000 after acquiring an additional 168 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. bought a new stake in Northrop Grumman in the 3rd quarter valued at about $201,000. Institutional investors own 80.56% of the company’s stock.
A number of brokerages recently issued reports on NOC. Robert W. Baird restated a “buy” rating and issued a $394.00 price objective on shares of Northrop Grumman in a research note on Friday, January 26th. Royal Bank of Canada boosted their price objective on Northrop Grumman from $324.00 to $347.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. JPMorgan Chase & Co. upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $317.00 to $355.00 in a research note on Tuesday, December 12th. Zacks Investment Research cut Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, Wells Fargo & Co upgraded Northrop Grumman from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 16th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $317.47.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same period in the prior year, the business posted $2.96 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. sell-side analysts predict that Northrop Grumman Co. will post 15.18 EPS for the current year.
The business 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 is currently 34.87%.
Northrop Grumman Company 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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