Entropy Technologies LP Takes Position in Northrop Grumman Co. (NYSE:NOC)

Entropy Technologies LP bought a new stake in Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,580 shares of the aerospace company’s stock, valued at approximately $5,059,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Optimum Investment Advisors lifted its position in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co acquired a new stake in Northrop Grumman during the second quarter worth $28,000. Meeder Asset Management Inc. increased its stake in Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman during the third quarter worth $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Northrop Grumman during the second quarter worth $52,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

NYSE NOC opened at $533.70 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $523.76 and its two-hundred day moving average is $485.11. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The stock has a market capitalization of $77.76 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 1.07 and a beta of 0.35.

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

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.54%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NOC shares. JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their target price on Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price for the company. in a research note on Tuesday, August 27th. Finally, Citigroup boosted their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman has an average rating of “Hold” and an average target price of $550.56.

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.