Burke & Herbert Bank & Trust Co. continued to hold its stake in Northrop Grumman Corp. (NYSE:NOC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,337 shares of the company’s stock at the end of the second quarter. Burke & Herbert Bank & Trust Co.’s holdings in Northrop Grumman Corp. were worth $297,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. boosted its stake in Northrop Grumman Corp. by 8.6% in the second quarter. Oakworth Capital Inc. now owns 632 shares of the company’s stock worth $134,000 after buying an additional 50 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in Northrop Grumman Corp. by 8.5% in the second quarter. Integrated Investment Consultants LLC now owns 700 shares of the company’s stock worth $156,000 after buying an additional 55 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Northrop Grumman Corp. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 827 shares of the company’s stock valued at $184,000 after buying an additional 4 shares during the period. Independence Trust CO bought a new position in Northrop Grumman Corp. during the second quarter valued at $200,000. Finally, NEXT Financial Group Inc raised its position in Northrop Grumman Corp. by 19.9% in the second quarter. NEXT Financial Group Inc now owns 920 shares of the company’s stock valued at $204,000 after buying an additional 153 shares during the period. 82.52% of the stock is owned by hedge funds and other institutional investors.
Northrop Grumman Corp. (NYSE:NOC) traded up 0.54% during midday trading on Monday, reaching $215.10. The company’s stock had a trading volume of 720,155 shares. The firm has a 50 day moving average price of $214.20 and a 200-day moving average price of $211.91. Northrop Grumman Corp. has a 52 week low of $168.26 and a 52 week high of $224.12. The firm has a market cap of $38.41 billion, a P/E ratio of 19.35 and a beta of 0.72.
Northrop Grumman Corp. (NYSE:NOC) last issued its earnings results on Wednesday, July 27th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.32. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.99 billion. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. Northrop Grumman Corp.’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 EPS. On average, analysts forecast that Northrop Grumman Corp. will post $11.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Monday, August 29th were issued a $0.90 dividend. The ex-dividend date was Thursday, August 25th. This represents a $3.60 annualized dividend and a yield of 1.67%. Northrop Grumman Corp.’s dividend payout ratio is currently 32.37%.
NOC has been the topic of several recent research reports. Citigroup Inc. raised their target price on Northrop Grumman Corp. from $235.00 to $243.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Vetr upgraded Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $224.44 target price on the stock in a report on Monday, June 20th. Jefferies Group raised their target price on Northrop Grumman Corp. from $233.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Zacks Investment Research upgraded Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $248.00 target price on the stock in a report on Monday, July 4th. Finally, Argus restated a “buy” rating on shares of Northrop Grumman Corp. in a report on Tuesday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $221.72.
In other Northrop Grumman Corp. news, CFO Kenneth L. Bedingfield sold 125 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $212.20, for a total value of $26,525.00. Following the transaction, the chief financial officer now directly owns 18,626 shares of the company’s stock, valued at approximately $3,952,437.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Wesley G. Bush sold 35,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $218.45, for a total transaction of $7,645,750.00. Following the completion of the transaction, the chief executive officer now directly owns 35,000 shares in the company, valued at $7,645,750. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
About Northrop Grumman Corp.
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.
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