Veriti Management LLC Has $1.11 Million Position in Northrop Grumman Co. (NYSE:NOC)

Veriti Management LLC grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC – Get Rating) by 16.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,488 shares of the aerospace company’s stock after acquiring an additional 353 shares during the period. Veriti Management LLC’s holdings in Northrop Grumman were worth $1,113,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc grew its holdings in Northrop Grumman by 6.8% during the 4th quarter. CIBC Asset Management Inc now owns 14,966 shares of the aerospace company’s stock worth $5,793,000 after acquiring an additional 952 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of Northrop Grumman by 52.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 2,607 shares of the aerospace company’s stock valued at $1,009,000 after buying an additional 896 shares during the period. Sei Investments Co. grew its stake in shares of Northrop Grumman by 18.3% in the 4th quarter. Sei Investments Co. now owns 73,596 shares of the aerospace company’s stock valued at $28,471,000 after buying an additional 11,386 shares during the period. Atria Investments LLC grew its stake in shares of Northrop Grumman by 6.8% in the 3rd quarter. Atria Investments LLC now owns 12,386 shares of the aerospace company’s stock valued at $4,461,000 after buying an additional 784 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at about $668,000. Hedge funds and other institutional investors own 84.52% of the company’s stock.

Northrop Grumman stock opened at $458.61 on Thursday. Northrop Grumman Co. has a 52 week low of $344.89 and a 52 week high of $492.30. The company’s 50 day moving average price is $458.33 and its two-hundred day moving average price is $426.50. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.97. The stock has a market cap of $71.29 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.93 and a beta of 0.71.

Northrop Grumman (NYSE:NOC – Get Rating) last posted its earnings results on Thursday, April 28th. The aerospace company reported $6.10 EPS for the quarter, topping the consensus estimate of $5.95 by $0.15. Northrop Grumman had a net margin of 16.33% and a return on equity of 32.82%. The firm had revenue of $8.80 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter last year, the firm earned $6.57 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Northrop Grumman Co. will post 24.8 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were given a dividend of $1.73 per share. The ex-dividend date was Friday, May 27th. This represents a $6.92 annualized dividend and a dividend yield of 1.51%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.57. Northrop Grumman’s dividend payout ratio (DPR) is currently 19.07%.

Several brokerages have recently commented on NOC. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Tuesday, May 17th. Morgan Stanley raised their target price on Northrop Grumman from $428.00 to $521.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Argus raised their target price on Northrop Grumman from $420.00 to $495.00 in a research note on Thursday, May 12th. Wells Fargo & Company raised their price target on shares of Northrop Grumman from $390.00 to $472.00 and gave the company an “equal weight” rating in a research report on Monday, March 7th. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of Northrop Grumman in a research report on Tuesday, April 19th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and an average price target of $442.80.

Northrop Grumman Company Profile (Get Rating)

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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.

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