AGF Management Ltd. Has $88.92 Million Stake in Northrop Grumman Co. (NYSE:NOC)

AGF Management Ltd. cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 203,958 shares of the aerospace company’s stock after selling 4,843 shares during the period. AGF Management Ltd. owned 0.14% of Northrop Grumman worth $88,915,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. KFA Private Wealth Group LLC lifted its holdings in shares of Northrop Grumman by 16.7% during the second quarter. KFA Private Wealth Group LLC now owns 524 shares of the aerospace company’s stock worth $229,000 after buying an additional 75 shares during the last quarter. Studio Investment Management LLC raised its stake in Northrop Grumman by 1.7% during the 2nd quarter. Studio Investment Management LLC now owns 4,361 shares of the aerospace company’s stock valued at $1,901,000 after purchasing an additional 75 shares during the last quarter. Angeles Wealth Management LLC boosted its holdings in Northrop Grumman by 6.1% in the 2nd quarter. Angeles Wealth Management LLC now owns 542 shares of the aerospace company’s stock valued at $236,000 after purchasing an additional 31 shares during the period. Headlands Technologies LLC grew its position in Northrop Grumman by 3,858.5% in the 2nd quarter. Headlands Technologies LLC now owns 5,344 shares of the aerospace company’s stock worth $2,330,000 after purchasing an additional 5,209 shares during the last quarter. Finally, Gryphon Financial Partners LLC increased its holdings in shares of Northrop Grumman by 10.8% during the 2nd quarter. Gryphon Financial Partners LLC now owns 522 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Down 0.8 %

NYSE NOC opened at $519.90 on Wednesday. The stock’s 50 day simple moving average is $481.80 and its 200 day simple moving average is $466.36. Northrop Grumman Co. has a one year low of $414.56 and a one year high of $528.76. The firm has a market cap of $76.03 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 2.36 and a beta of 0.34. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping the consensus estimate of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter in the prior year, the business earned $5.34 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 25.14 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is presently 57.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NOC shares. Jefferies Financial Group reduced their target price on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a research note on Tuesday, June 18th. UBS Group lifted their price objective on Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and upped their target price for the company from $474.00 to $575.00 in a research note on Monday, July 29th. BTIG Research started coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Northrop Grumman presently has an average rating of “Hold” and an average target price of $523.20.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the sale, the vice president now owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Northrop Grumman 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 transaction 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 approximately $2,317,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were 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 in the company, valued at $3,225,917.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,846 shares of company stock worth $1,393,028. Corporate insiders own 0.22% of the company’s stock.

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.