Cetera Advisor Networks LLC Has $15.52 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Posted by Defense World Staff on Jun 13th, 2023

Cetera Advisor Networks LLC grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC – Get Rating) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,441 shares of the aerospace company’s stock after acquiring an additional 4,771 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Northrop Grumman were worth $15,517,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Cetera Investment Advisers raised its stake in Northrop Grumman by 52.8% during the fourth quarter. Cetera Investment Advisers now owns 17,007 shares of the aerospace company’s stock worth $9,279,000 after acquiring an additional 5,875 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Northrop Grumman by 1.9% during the fourth quarter. Cetera Advisors LLC now owns 11,850 shares of the aerospace company’s stock worth $6,466,000 after purchasing an additional 226 shares during the last quarter. Amundi grew its holdings in shares of Northrop Grumman by 3.8% during the fourth quarter. Amundi now owns 14,292 shares of the aerospace company’s stock worth $7,045,000 after purchasing an additional 526 shares during the last quarter. Scholtz & Company LLC grew its holdings in shares of Northrop Grumman by 14.1% during the fourth quarter. Scholtz & Company LLC now owns 13,938 shares of the aerospace company’s stock worth $7,605,000 after purchasing an additional 1,726 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Northrop Grumman by 12.1% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 952 shares of the aerospace company’s stock worth $520,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Northrop Grumman Price Performance

Shares of NOC opened at $453.51 on Tuesday. Northrop Grumman Co. has a 52-week low of $429.10 and a 52-week high of $556.27. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.12 and a current ratio of 1.22. The business’s 50 day moving average price is $453.72 and its two-hundred day moving average price is $473.94. The firm has a market cap of $68.87 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 5.30 and a beta of 0.51.

Northrop Grumman (NYSE:NOC – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The aerospace company reported $5.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.16 by $0.34. Northrop Grumman had a return on equity of 26.61% and a net margin of 12.89%. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the firm earned $6.10 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Northrop Grumman Co. will post 22.57 EPS for the current year.

Northrop Grumman Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 30th will be given a dividend of $1.87 per share. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.73. The ex-dividend date of this dividend is Friday, May 26th. Northrop Grumman’s dividend payout ratio is presently 24.20%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOC. Seaport Res Ptn restated a “buy” rating on shares of Northrop Grumman in a report on Thursday, April 27th. 22nd Century Group reiterated a “maintains” rating on shares of Northrop Grumman in a report on Friday, April 28th. StockNews.com assumed coverage on Northrop Grumman in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Barclays cut Northrop Grumman from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $580.00 to $450.00 in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $509.00.

Northrop Grumman Company Profile

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Northrop Grumman Corp. engages in the provision of advanced aircraft systems. It operates through the following segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment is involved in the design, development, production, integration, sustainment, and modernization of advanced aircraft systems for the U.S.