Calamos Advisors LLC decreased its stake in Northrop Grumman Corp. (NYSE:NOC) by 10.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 275,718 shares of the company’s stock after selling 31,360 shares during the period. Calamos Advisors LLC’s holdings in Northrop Grumman Corp. were worth $61,287,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in Northrop Grumman Corp. by 21.7% in the first quarter. Wellington Management Group LLP now owns 3,362,671 shares of the company’s stock valued at $665,472,000 after buying an additional 600,388 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Northrop Grumman Corp. during the first quarter valued at approximately $77,676,000. Bank of Montreal Can purchased a new position in Northrop Grumman Corp. during the second quarter valued at approximately $76,299,000. Old Mutual Global Investors UK Ltd. purchased a new position in Northrop Grumman Corp. during the second quarter valued at approximately $30,103,000. Finally, Anchor Bolt Capital LP purchased a new position in Northrop Grumman Corp. during the first quarter valued at approximately $23,604,000. 82.52% of the stock is owned by institutional investors and hedge funds.
Northrop Grumman Corp. (NYSE:NOC) traded up 0.48% on Tuesday, reaching $218.05. The company’s stock had a trading volume of 535,954 shares. The firm’s 50 day moving average is $214.32 and its 200-day moving average is $211.47. Northrop Grumman Corp. has a 12 month low of $161.81 and a 12 month high of $224.12. The firm has a market cap of $38.94 billion, a P/E ratio of 19.62 and a beta of 0.73.
Northrop Grumman Corp. (NYSE:NOC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.32. The firm earned $6 billion during the quarter, compared to the consensus estimate of $5.99 billion. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the business posted $2.54 earnings per share. On average, equities research analysts anticipate that Northrop Grumman Corp. will post $11.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Monday, August 29th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, August 25th. This represents a $3.60 annualized dividend and a yield of 1.65%. Northrop Grumman Corp.’s dividend payout ratio (DPR) is presently 32.37%.
Several equities analysts have commented on the company. Zacks Investment Research raised Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $248.00 price target for the company in a report on Monday, July 4th. Jefferies Group upped their price target on Northrop Grumman Corp. from $233.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Vetr cut Northrop Grumman Corp. from a “buy” rating to a “hold” rating and set a $224.44 price target for the company. in a report on Wednesday, June 8th. Cowen and Company reaffirmed a “market perform” rating and issued a $227.00 price target (up previously from $220.00) on shares of Northrop Grumman Corp. in a report on Wednesday, June 15th. Finally, Argus reaffirmed 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 given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $221.72.
In other news, VP Christopher T. Jones sold 240 shares of Northrop Grumman Corp. stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $222.50, for a total value of $53,400.00. Following the completion of the sale, the vice president now directly owns 48,260 shares in the company, valued at $10,737,850. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kenneth L. Bedingfield sold 125 shares of Northrop Grumman Corp. stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $212.20, for a total transaction of $26,525.00. Following the completion of the sale, the chief financial officer now owns 18,626 shares of the company’s stock, valued at $3,952,437.20. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
Northrop Grumman Corp. Company Profile
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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