Bowling Portfolio Management LLC reduced its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,358 shares of the aerospace company’s stock after selling 41 shares during the period. Bowling Portfolio Management LLC’s holdings in Northrop Grumman Corporation were worth $4,456,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Harbour Capital Advisors LLC acquired a new stake in Northrop Grumman Corporation during the first quarter valued at approximately $108,000. Horan Capital Management acquired a new stake in Northrop Grumman Corporation during the first quarter valued at approximately $115,000. Dubuque Bank & Trust Co. raised its position in Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock valued at $119,000 after buying an additional 9 shares during the period. Global X Management Co. LLC raised its position in Northrop Grumman Corporation by 63.3% in the first quarter. Global X Management Co. LLC now owns 547 shares of the aerospace company’s stock valued at $130,000 after buying an additional 212 shares during the period. Finally, Perigon Wealth Management LLC raised its position in Northrop Grumman Corporation by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 546 shares of the aerospace company’s stock valued at $130,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 81.80% of the company’s stock.
Shares of Northrop Grumman Corporation (NYSE:NOC) traded down 0.19% on Friday, reaching $267.61. 551,186 shares of the company’s stock were exchanged. 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. The firm has a 50 day moving average of $265.37 and a 200 day moving average of $250.80.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.31. The company 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 firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $2.85 earnings per share. On average, equities research analysts predict that Northrop Grumman Corporation will post $12.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th will be issued a $1.00 dividend. 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 payout ratio is 30.56%.
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Several research firms recently commented on NOC. Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a research note on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective for the company. BidaskClub upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Argus boosted their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Cowen and Company reiterated a “hold” rating and set a $275.00 price objective on shares of Northrop Grumman Corporation in a research note on Monday, July 17th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $285.00 price objective (up previously from $275.00) on shares of Northrop Grumman Corporation in a research note 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. The stock has an average rating of “Buy” and a consensus target price of $259.93.
In other news, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total value of $96,612.75. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sid Ashworth sold 3,847 shares of Northrop Grumman Corporation 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 $18,059,080. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
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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