Rovin Capital UT ADV Takes Position in Northrop Grumman Co. (NYSE:NOC)

Rovin Capital UT ADV acquired a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,052 shares of the aerospace company’s stock, valued at approximately $556,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOC. Capital International Investors lifted its holdings in shares of Northrop Grumman by 5.6% during the 1st quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock valued at $5,623,128,000 after buying an additional 621,636 shares during the period. JPMorgan Chase & Co. lifted its holdings in Northrop Grumman by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock valued at $2,218,132,000 after acquiring an additional 211,459 shares during the period. Capital World Investors boosted its position in Northrop Grumman by 0.6% in the first quarter. Capital World Investors now owns 3,688,511 shares of the aerospace company’s stock worth $1,765,543,000 after purchasing an additional 23,398 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Northrop Grumman by 16.0% during the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after purchasing an additional 150,367 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Northrop Grumman by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 683,427 shares of the aerospace company’s stock valued at $297,937,000 after purchasing an additional 125,262 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the subject of several recent research reports. UBS Group boosted their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a report on Tuesday, August 27th. Susquehanna boosted their price target on Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday, October 25th. Finally, TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $550.56.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $529.02 on Friday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average is $523.76 and its 200 day moving average is $484.96. The company has a market cap of $77.08 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 1.05 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.18 EPS. Sell-side analysts forecast that Northrop Grumman Co. will post 25.95 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. 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.