Harbour Capital Advisors LLC boosted its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 25,571.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,033 shares of the aerospace company’s stock after buying an additional 115,581 shares during the period. Harbour Capital Advisors LLC owned about 0.07% of Northrop Grumman Corporation worth $452,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of 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 worth $3,038,501,000 after buying an additional 12,345,491 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 worth $3,035,847,000 after buying an additional 531,824 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Northrop Grumman Corporation by 5.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,617,954 shares of the aerospace company’s stock worth $1,098,335,000 after buying an additional 239,260 shares in the last quarter. 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. Finally, Wellington Management Group LLP increased its position in Northrop Grumman Corporation by 4.8% in the first quarter. Wellington Management Group LLP now owns 2,878,724 shares of the aerospace company’s stock valued at $684,676,000 after buying an additional 131,008 shares during the period. Hedge funds and other institutional investors own 81.80% of the company’s stock.
Shares of Northrop Grumman Corporation (NYSE NOC) traded down 0.19% during trading on Friday, hitting $267.61. The stock had a trading volume of 551,186 shares. The firm has a market cap of $46.59 billion, a price-to-earnings ratio of 20.44 and a beta of 0.66. Northrop Grumman Corporation has a 12-month low of $206.69 and a 12-month high of $274.61. The stock has a 50-day moving average of $265.37 and a 200 day moving average of $250.80.
Northrop Grumman Corporation (NYSE:NOC) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the business earned $2.85 earnings per share. The company’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 28th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio is currently 30.56%.
Several equities analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Northrop Grumman Corporation in a report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective on the stock. BidaskClub upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Argus upped their target price on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Cowen and Company reiterated a “hold” rating and issued a $275.00 target price on shares of Northrop Grumman Corporation in a research report on Monday, July 17th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $285.00 price objective (up previously from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Northrop Grumman Corporation has an average rating of “Buy” and an average target price of $259.93.
In related news, VP Lisa R. Davis sold 367 shares of the firm’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 value of $96,612.75. Following the sale, the vice president now directly owns 961 shares in the company, valued at approximately $252,983.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sid Ashworth sold 3,847 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total value of $1,000,220.00. Following the transaction, the vice president now directly owns 69,458 shares of the company’s stock, valued at $18,059,080. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
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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