IBM Retirement Fund boosted its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 112.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,946 shares of the aerospace company’s stock after buying an additional 2,089 shares during the period. IBM Retirement Fund’s holdings in Northrop Grumman Corporation were worth $1,132,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. NGAM Advisors L.P. increased its stake in shares of Northrop Grumman Corporation by 46.7% in the second quarter. NGAM Advisors L.P. now owns 91,610 shares of the aerospace company’s stock worth $23,517,000 after buying an additional 29,166 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in Northrop Grumman Corporation by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 7,221 shares of the aerospace company’s stock worth $1,854,000 after buying an additional 305 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Northrop Grumman Corporation by 44.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,212 shares of the aerospace company’s stock worth $311,000 after buying an additional 375 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Northrop Grumman Corporation during the second quarter worth about $243,000. Finally, Bristlecone Advisors LLC boosted its stake in Northrop Grumman Corporation by 2.0% in the second quarter. Bristlecone Advisors LLC now owns 10,273 shares of the aerospace company’s stock worth $2,637,000 after buying an additional 205 shares during the last quarter. Institutional investors and hedge funds own 81.80% of the company’s stock.
Shares of Northrop Grumman Corporation (NYSE NOC) traded down 0.19% during midday trading on Friday, reaching $267.61. The company’s stock had a trading volume of 551,186 shares. Northrop Grumman Corporation has a one year low of $206.69 and a one year high of $274.61. The firm has a 50-day moving average of $265.37 and a 200-day moving average of $250.80. The stock has a market cap of $46.59 billion, a PE ratio of 20.44 and a beta of 0.66.
Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $2.85 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts forecast that Northrop Grumman Corporation will post $12.55 EPS for the current 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 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 is presently 30.56%.
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A number of research firms recently issued reports on NOC. Argus increased their target price on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Morgan Stanley began coverage on Northrop Grumman Corporation in a research note on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 target price for the company. BidaskClub cut Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Vertical Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and raised their price target for the stock from $254.00 to $270.00 in a research note on Wednesday, May 10th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $259.93.
In related news, VP Lisa R. Davis sold 367 shares of the stock in a transaction dated 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 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 is accessible through the SEC website. Also, VP Sid Ashworth sold 3,847 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total value of $1,000,220.00. Following the sale, the vice president now directly owns 69,458 shares in the company, valued at approximately $18,059,080. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.
Northrop Grumman Corporation Company Profile
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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