Johnson Financial Group Inc. decreased its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,370 shares of the aerospace company’s stock after selling 281 shares during the quarter. Johnson Financial Group Inc.’s holdings in Northrop Grumman Corporation were worth $2,405,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Waldron LP grew its stake in Northrop Grumman Corporation by 17.1% during the first quarter. Waldron LP now owns 2,005 shares of the aerospace company’s stock worth $476,000 after buying an additional 293 shares during the last quarter. Tocqueville Asset Management L.P. lifted its position in shares of Northrop Grumman Corporation by 172.2% during the first quarter. Tocqueville Asset Management L.P. now owns 8,765 shares of the aerospace company’s stock worth $2,085,000 after purchasing an additional 5,545 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Northrop Grumman Corporation during the first quarter worth approximately $194,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Northrop Grumman Corporation by 2.6% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,970 shares of the aerospace company’s stock worth $6,415,000 after purchasing an additional 682 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Northrop Grumman Corporation by 0.8% during the first quarter. Great West Life Assurance Co. Can now owns 144,086 shares of the aerospace company’s stock worth $34,244,000 after purchasing an additional 1,099 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Lisa R. Davis sold 367 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the sale, the vice president now directly owns 961 shares of the company’s stock, valued at approximately $252,983.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by insiders.
Shares of Northrop Grumman Corporation (NYSE NOC) traded up 0.49% during mid-day trading on Friday, reaching $266.99. 472,061 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $268.43 and its 200 day moving average price is $254.84. Northrop Grumman Corporation has a 52-week low of $210.60 and a 52-week high of $274.61. The company has a market cap of $46.48 billion, a PE ratio of 20.39 and a beta of 0.66.
Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the previous year, the firm earned $2.85 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Northrop Grumman Corporation will post $12.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 28th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $4.00 dividend on an annualized basis and a yield of 1.50%. Northrop Grumman Corporation’s dividend payout ratio is presently 30.56%.
A number of brokerages have recently issued reports on NOC. Zacks Investment Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $299.00 target price on the stock in a research report on Thursday. Royal Bank Of Canada set a $294.00 price objective on shares of Northrop Grumman Corporation and gave the company a “buy” rating in a report on Tuesday, August 29th. Cowen and Company restated a “hold” rating and issued a $275.00 price objective on shares of Northrop Grumman Corporation in a report on Thursday, August 24th. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and issued a $309.00 price objective on shares of Northrop Grumman Corporation in a report on Wednesday, August 23rd. Finally, BidaskClub raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $269.43.
About Northrop Grumman Corporation
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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