State Treasurer State of Michigan increased its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,417 shares of the aerospace company’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Northrop Grumman Corporation were worth $14,740,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC bought a new position in Northrop Grumman Corporation during the first quarter valued at approximately $108,000. Horan Capital Management bought a new position in Northrop Grumman Corporation during the first quarter valued at approximately $115,000. Dubuque Bank & Trust Co. increased 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. Perigon Wealth Management LLC increased its position in Northrop Grumman Corporation by 6.8% in the fourth quarter. Perigon Wealth Management LLC now owns 531 shares of the aerospace company’s stock valued at $129,000 after buying an additional 34 shares during the period. Finally, Global X Management Co. LLC increased 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. Hedge funds and other institutional investors own 81.80% of the company’s stock.
Northrop Grumman Corporation (NYSE:NOC) traded down 0.19% on Friday, hitting $267.61. 551,186 shares of the stock were exchanged. 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 cap of $46.59 billion, a PE ratio of 20.44 and a beta of 0.66. Northrop Grumman Corporation has a 52-week low of $206.69 and a 52-week high of $274.61.
Northrop Grumman Corporation (NYSE:NOC) last posted its earnings results 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. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.85 EPS. On average, equities research analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th will be issued a dividend of $1.00 per share. 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 payout ratio is presently 30.56%.
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Several research firms recently commented on NOC. Argus upped their price target on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Stifel Nicolaus restated a “hold” rating and issued a $255.00 price target (up from $245.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Jefferies Group LLC restated a “hold” rating and issued a $243.00 price target on shares of Northrop Grumman Corporation in a research note on Wednesday, June 21st. Vertical Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $254.00 to $270.00 in a research note on Wednesday, May 10th. Finally, Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a research note on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $259.93.
In other news, VP Sid Ashworth sold 3,847 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was 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 owns 69,458 shares of the company’s stock, valued at $18,059,080. The sale was disclosed in a legal filing 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 dated Tuesday, August 1st. The stock was 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 disclosure for this sale can be found here. 0.70% of the stock is owned by 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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