Alpha Cubed Investments LLC acquired a new stake in Northrop Grumman Corporation (NYSE:NOC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 995 shares of the aerospace company’s stock, valued at approximately $255,000.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its position in Northrop Grumman Corporation by 2,871.7% in the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock valued at $3,038,501,000 after buying an additional 12,345,491 shares during the period. Alliancebernstein L.P. increased its position in Northrop Grumman Corporation by 64.6% in the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock valued at $749,119,000 after buying an additional 1,235,985 shares during the period. Winslow Capital Management LLC bought a new position in Northrop Grumman Corporation during the first quarter valued at approximately $198,691,000. Renaissance Technologies LLC increased its position in Northrop Grumman Corporation by 331.4% in the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock valued at $235,271,000 after buying an additional 759,900 shares during the period. Finally, Vanguard Group Inc. increased its position in Northrop Grumman Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock valued at $3,035,847,000 after buying an additional 531,824 shares during the period. 81.80% of the stock is currently owned by institutional investors.
Shares of Northrop Grumman Corporation (NYSE NOC) traded down 0.19% during midday trading on Friday, reaching $267.61. The company had a trading volume of 551,186 shares. The company has a 50 day moving average price of $265.37 and a 200-day moving average price of $250.80. The firm has a market capitalization of $46.59 billion, a P/E ratio of 20.44 and a beta of 0.66. Northrop Grumman Corporation has a one year low of $206.69 and a one year high of $274.61.
Northrop Grumman Corporation (NYSE:NOC) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.31. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.85 EPS. On average, analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.49%. Northrop Grumman Corporation’s dividend payout ratio (DPR) is currently 30.56%.
A number of equities research analysts have recently weighed in on NOC shares. Deutsche Bank AG restated a “buy” rating and set a $285.00 target price (up previously from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Cowen and Company reissued a “hold” rating and issued a $275.00 target price on shares of Northrop Grumman Corporation in a research note on Monday, July 17th. BidaskClub lowered Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley began coverage on Northrop Grumman Corporation in a report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 target price on the stock. Finally, Vertical Research upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $254.00 to $270.00 in a research note on Wednesday, May 10th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $259.93.
In other news, VP Sid Ashworth sold 3,847 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the completion of the transaction, the vice president now directly owns 69,458 shares in the company, valued at approximately $18,059,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the transaction, the vice president now owns 961 shares of the company’s stock, valued at $252,983.25. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.
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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