Rehmann Capital Advisory Group raised its stake in shares of Northrop Grumman Corp. (NYSE:NOC) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,577 shares of the company’s stock after buying an additional 93 shares during the period. Rehmann Capital Advisory Group’s holdings in Northrop Grumman Corp. were worth $351,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC raised its stake in Northrop Grumman Corp. by 31.0% in the first quarter. LPL Financial LLC now owns 206,304 shares of the company’s stock valued at $41,729,000 after buying an additional 48,795 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Northrop Grumman Corp. during the first quarter valued at $77,676,000. Integrated Investment Consultants LLC raised 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 valued at $156,000 after buying an additional 55 shares during the last quarter. Shufro Rose & Co. LLC acquired a new stake in Northrop Grumman Corp. during the first quarter valued at $281,000. Finally, Chilton Capital Management LLC acquired a new stake in Northrop Grumman Corp. during the first quarter valued at $829,000. Hedge funds and other institutional investors own 82.61% of the company’s stock.
Shares of Northrop Grumman Corp. (NYSE:NOC) traded up 0.45% during midday trading on Tuesday, reaching $212.11. 578,457 shares of the company’s stock were exchanged. The company has a market capitalization of $37.88 billion, a PE ratio of 19.08 and a beta of 0.73. Northrop Grumman Corp. has a 1-year low of $161.81 and a 1-year high of $224.12. The firm has a 50-day moving average of $214.56 and a 200-day moving average of $210.61.
Northrop Grumman Corp. (NYSE:NOC) last issued its earnings results on Wednesday, July 27th. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.53 by $0.32. The firm earned $6 billion during the quarter, compared to analysts’ expectations of $5.99 billion. Northrop Grumman Corp. had a return on equity of 32.59% and a net margin of 8.67%. Northrop Grumman Corp.’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $2.54 earnings per share. Equities analysts expect that Northrop Grumman Corp. will post $11.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Monday, August 29th were paid 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 1.70%. Northrop Grumman Corp.’s dividend payout ratio is currently 32.37%.
Several analysts have weighed in on NOC shares. JPMorgan Chase & Co. lowered shares of Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $225.00 to $231.00 in a research note on Thursday, August 25th. Citigroup Inc. boosted their target price on shares of Northrop Grumman Corp. from $235.00 to $243.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. Zacks Investment Research upgraded shares of Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $248.00 target price for the company in a research note on Monday, July 4th. Jefferies Group boosted their target price on shares of Northrop Grumman Corp. from $233.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Vetr upgraded shares of Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $224.44 target price for the company in a research note on Monday, June 20th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $221.72.
In other Northrop Grumman Corp. news, VP Christopher T. Jones sold 240 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $215.86, for a total transaction of $51,806.40. Following the completion of the transaction, the vice president now directly owns 48,020 shares in the company, valued at $10,365,597.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wesley G. Bush sold 35,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $218.45, for a total value of $7,645,750.00. Following the transaction, the chief executive officer now owns 35,000 shares of the company’s stock, valued at $7,645,750. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
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.
Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Corp. (NYSE:NOC).
Receive News & Ratings for Northrop Grumman Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman Corp. and related companies with MarketBeat.com's FREE daily email newsletter.