OVERSEA CHINESE BANKING Corp Ltd Has $838,000 Stock Position in Northrop Grumman Co. (NYSE:NOC)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 40.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,586 shares of the aerospace company’s stock after purchasing an additional 455 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Northrop Grumman were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Patron Partners LLC bought a new position in shares of Northrop Grumman during the 3rd quarter worth about $211,000. Entropy Technologies LP acquired a new position in Northrop Grumman in the third quarter worth about $5,059,000. Apollon Wealth Management LLC lifted its stake in Northrop Grumman by 17.5% during the third quarter. Apollon Wealth Management LLC now owns 5,909 shares of the aerospace company’s stock worth $3,121,000 after purchasing an additional 878 shares during the period. Vantage Investment Partners LLC boosted its holdings in Northrop Grumman by 7.2% during the third quarter. Vantage Investment Partners LLC now owns 85,267 shares of the aerospace company’s stock valued at $45,027,000 after purchasing an additional 5,694 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV bought a new stake in shares of Northrop Grumman in the 3rd quarter valued at approximately $234,000. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOC has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research note on Tuesday, August 27th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their price target on shares of Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $550.56.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $520.39 on Thursday. The stock has a market cap of $75.82 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.07 and a beta of 0.35. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month 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 business’s 50-day simple moving average is $524.14 and its 200 day simple moving average is $485.78.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Northrop Grumman’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.18 EPS. As a group, research analysts anticipate that Northrop Grumman Co. will post 25.95 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a $2.06 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.58%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 1,289 shares of company stock valued at $685,273 over the last three months. Company insiders own 0.22% of the company’s stock.

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.