Blair William & Co. IL lessened its position in shares of Northrop Grumman Co. (NYSE:NOC – Free Report) by 16.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,813 shares of the aerospace company’s stock after selling 3,635 shares during the period. Blair William & Co. IL’s holdings in Northrop Grumman were worth $8,202,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors increased its position in shares of Northrop Grumman by 5.6% in the first quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock valued at $5,623,128,000 after acquiring an additional 621,636 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Northrop Grumman by 4.8% during the 1st quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock worth $2,218,132,000 after purchasing an additional 211,459 shares during the last quarter. Capital World Investors lifted its holdings in shares of Northrop Grumman by 0.6% during the first quarter. Capital World Investors now owns 3,688,511 shares of the aerospace company’s stock worth $1,765,543,000 after buying an additional 23,398 shares in the last quarter. Sanders Capital LLC boosted its holdings in Northrop Grumman by 3.7% in the 4th quarter. Sanders Capital LLC now owns 2,271,466 shares of the aerospace company’s stock valued at $1,063,364,000 after purchasing an additional 80,887 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Northrop Grumman by 1.3% in the fourth quarter. Northern Trust Corp now owns 1,260,599 shares of the aerospace company’s stock valued at $590,137,000 after buying an additional 16,275 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.
Analyst Ratings Changes
NOC has been the subject of several recent analyst reports. Sanford C. Bernstein cut shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price objective for the company. in a research report on Friday, June 21st. Morgan Stanley boosted their price objective on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Barclays raised their price target on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Finally, Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $523.20.
Insider Activity
In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. Insiders sold 2,846 shares of company stock valued at $1,393,028 in the last three months. Company insiders own 0.22% of the company’s stock.
Northrop Grumman Price Performance
Shares of NYSE NOC opened at $525.13 on Friday. The stock has a market cap of $77.71 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 2.36 and a beta of 0.34. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $528.76. The firm’s 50-day simple moving average is $496.06 and its 200 day simple moving average is $469.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11.
Northrop Grumman (NYSE:NOC – Get Free Report) last posted its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.93 by $0.43. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm had revenue of $10.22 billion during the quarter, compared to analyst estimates of $10.02 billion. During the same quarter in the prior year, the business posted $5.34 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. As a group, research analysts anticipate that Northrop Grumman Co. will post 25.14 earnings per share for the current fiscal year.
Northrop Grumman Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.57%. Northrop Grumman’s payout ratio is currently 57.62%.
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.
See Also
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