Point72 Asia Singapore Pte. Ltd. Makes New $559,000 Investment in Northrop Grumman Co. (NYSE:NOC)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,059 shares of the aerospace company’s stock, valued at approximately $559,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NOC. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Northrop Grumman in the 2nd quarter valued at $52,000. Mather Group LLC. raised its holdings in Northrop Grumman by 63.0% during the 2nd quarter. Mather Group LLC. now owns 957 shares of the aerospace company’s stock worth $458,000 after purchasing an additional 370 shares during the last quarter. Fulton Bank N.A. lifted its position in Northrop Grumman by 26.2% during the 2nd quarter. Fulton Bank N.A. now owns 1,215 shares of the aerospace company’s stock valued at $530,000 after purchasing an additional 252 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in Northrop Grumman during the 2nd quarter valued at about $212,000. Finally, Matrix Trust Co boosted its stake in shares of Northrop Grumman by 1.8% in the 2nd quarter. Matrix Trust Co now owns 2,602 shares of the aerospace company’s stock valued at $1,134,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 1,255 shares of company stock valued at $667,727. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

NOC stock opened at $484.64 on Tuesday. The stock has a 50-day moving average price of $517.20 and a two-hundred day moving average price of $487.46. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The stock has a market cap of $70.61 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 0.99 and a beta of 0.33. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Northrop Grumman’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $6.18 earnings per share. Equities analysts forecast that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

Analysts Set New Price Targets

NOC has been the subject of a number of recent research reports. Barclays boosted their price target on shares of Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company increased their price target on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research note on Tuesday, August 27th. JPMorgan Chase & Co. increased their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Susquehanna boosted their target price on Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $550.56.

Northrop Grumman 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.