Savant Capital LLC boosted its stake in Northrop Grumman Corp. (NYSE:NOC) by 4.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,189 shares of the company’s stock after buying an additional 89 shares during the period. Savant Capital LLC’s holdings in Northrop Grumman Corp. were worth $487,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in NOC. Wellington Management Group LLP raised its stake in shares of 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 stake in shares of Northrop Grumman Corp. during the first quarter valued at about $77,676,000. Bank of Montreal Can purchased a new stake in shares of Northrop Grumman Corp. during the second quarter valued at about $76,299,000. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Northrop Grumman Corp. during the second quarter valued at about $30,103,000. Finally, Anchor Bolt Capital LP purchased a new stake in shares of Northrop Grumman Corp. during the first quarter valued at about $23,604,000. Institutional investors and hedge funds own 82.52% of the company’s stock.
Northrop Grumman Corp. (NYSE:NOC) traded down 0.16% during midday trading on Wednesday, reaching $212.48. The company’s stock had a trading volume of 566,006 shares. Northrop Grumman Corp. has a 52 week low of $168.81 and a 52 week high of $224.12. The firm has a market cap of $37.94 billion, a P/E ratio of 19.11 and a beta of 0.72. The firm has a 50 day moving average price of $213.91 and a 200-day moving average price of $212.52.
Northrop Grumman Corp. (NYSE:NOC) last issued its quarterly 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. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.99 billion. During the same period in the previous year, the firm posted $2.54 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts forecast that Northrop Grumman Corp. will post $11.04 earnings per share for the current fiscal year.
The firm also recently declared 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 of this dividend was Thursday, August 25th. This represents a $3.60 annualized dividend and a yield of 1.69%. Northrop Grumman Corp.’s dividend payout ratio (DPR) is presently 32.37%.
NOC has been the subject of several recent research reports. Zacks Investment Research lowered Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. JPMorgan Chase & Co. lowered Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and raised their target price for the company from $225.00 to $231.00 in a report on Thursday, August 25th. 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. Argus restated a “buy” rating on shares of Northrop Grumman Corp. in a report on Tuesday, August 2nd. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Northrop Grumman Corp. presently has an average rating of “Buy” and an average price target of $221.72.
In other news, VP Christopher T. Jones sold 240 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $215.86, for a total value of $51,806.40. Following the sale, the vice president now directly owns 48,020 shares of the company’s stock, valued at approximately $10,365,597.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth L. Bedingfield sold 125 shares of the company’s stock in a transaction dated 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 directly owns 18,626 shares in the company, 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.
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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