Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 9.69MM shares of Northrop Grumman Corporation (NOC). This represents 6.3% of the company.
In their previous filing dated February 3, 2022 they reported 8.63MM shares and 5.40% of the company, an increase in shares of 12.24% and an increase in total ownership of 0.90% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 27.70% Upside
As of February 1, 2023, the average one-year price target for Northrop Grumman is $572.17. The forecasts range from a low of $378.75 to a high of $735.00. The average price target represents an increase of 27.70% from its latest reported closing price of $448.04.
The projected annual revenue for Northrop Grumman is $38,225MM, an increase of 4.43%. The projected annual EPS is $22.81, a decrease of 27.85%.
Fund Sentiment
There are 2408 funds or institutions reporting positions in Northrop Grumman. This is an increase of 45 owner(s) or 1.90%.
Average portfolio weight of all funds dedicated to US:NOC is 0.4870%, an increase of 5.6871%. Total shares owned by institutions decreased in the last three months by 0.56% to 161,136K shares.
What are large shareholders doing?
Capital International Investors holds 12,233,419 shares representing 7.99% ownership of the company. In it's prior filing, the firm reported owning 12,280,616 shares, representing a decrease of 0.39%. The firm increased its portfolio allocation in NOC by 5.02% over the last quarter.
Wellington Management Group Llp holds 6,818,168 shares representing 4.45% ownership of the company. In it's prior filing, the firm reported owning 7,974,522 shares, representing a decrease of 16.96%. The firm decreased its portfolio allocation in NOC by 11.13% over the last quarter.
AWSHX - WASHINGTON MUTUAL INVESTORS FUND holds 5,646,394 shares representing 3.69% ownership of the company. In it's prior filing, the firm reported owning 5,177,097 shares, representing an increase of 8.31%. The firm increased its portfolio allocation in NOC by 28.61% over the last quarter.
Massachusetts Financial Services holds 5,254,838 shares representing 3.43% ownership of the company. In it's prior filing, the firm reported owning 5,434,390 shares, representing a decrease of 3.42%. The firm increased its portfolio allocation in NOC by 3.05% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,153,197 shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 4,120,790 shares, representing an increase of 0.78%. The firm increased its portfolio allocation in NOC by 3.25% over the last quarter.
Northrop Grumman Declares $1.73 Dividend
Northrop Grumman said on November 16, 2022 that its board of directors declared a regular quarterly dividend of $1.73 per share ($6.92 annualized). Shareholders of record as of November 25, 2022 received the payment on December 14, 2022. Previously, the company paid $1.73 per share.
At the current share price of $448.04 / share, the stock's dividend yield is 1.54%. Looking back five years and taking a sample every week, the average dividend yield has been 1.61%, the lowest has been 1.24%, and the highest has been 2.12%. The standard deviation of yields is 0.19 (n=236).
The current dividend yield is 0.36 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.31%, demonstrating that it has increased its dividend over time.
Northrop Grumman Background Information
(This description is provided by the company.)
Northrop Grumman solves the toughest problems in space, aeronautics, defense and cyberspace to meet the ever evolving needs of our customers worldwide. Its 90,000 employees define possible every day using science, technology and engineering to create and deliver advanced systems, products and services.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
