Strs Ohio lowered its stake in Northrop Grumman Corp. (NYSE:NOC) by 8.6% during the second quarter, Holdings Channel reports. The institutional investor owned 104,021 shares of the company’s stock after selling 9,800 shares during the period. Strs Ohio’s holdings in Northrop Grumman Corp. were worth $23,121,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of NOC. Oakworth Capital Inc. raised its position in Northrop Grumman Corp. by 8.6% in the second quarter. Oakworth Capital Inc. now owns 632 shares of the company’s stock valued at $134,000 after buying an additional 50 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of 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. increased its stake in shares of Northrop Grumman Corp. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 827 shares of the company’s stock worth $184,000 after buying an additional 4 shares during the last quarter. Independence Trust CO acquired a new stake in shares of Northrop Grumman Corp. during the second quarter worth about $200,000. Finally, NEXT Financial Group Inc increased its stake in shares of Northrop Grumman Corp. by 19.9% in the second quarter. NEXT Financial Group Inc now owns 920 shares of the company’s stock worth $204,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.52% of the company’s stock.
Northrop Grumman Corp. (NYSE:NOC) traded up 0.48% during midday trading on Tuesday, reaching $218.05. The company had a trading volume of 535,954 shares. The firm’s 50-day moving average price is $214.38 and its 200 day moving average price is $211.68. The firm has a market capitalization of $38.94 billion, a PE ratio of 19.62 and a beta of 0.73. Northrop Grumman Corp. has a 12 month low of $162.68 and a 12 month high of $224.12.
Northrop Grumman Corp. (NYSE:NOC) last released its earnings results on Wednesday, July 27th. The company reported $2.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.32. Northrop Grumman Corp. had a return on equity of 32.59% and a net margin of 8.67%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.99 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Northrop Grumman Corp. will post $11.04 earnings per share for the current fiscal year.
The company also recently declared 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 1.65%. Northrop Grumman Corp.’s dividend payout ratio is presently 32.37%.
A number of analysts recently issued reports on NOC shares. Zacks Investment Research downgraded Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. JPMorgan Chase & Co. downgraded Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $225.00 to $231.00 in a research report on Thursday, August 25th. Jefferies Group raised their price objective on Northrop Grumman Corp. from $233.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Argus reissued a “buy” rating on shares of Northrop Grumman Corp. in a research report on Tuesday, August 2nd. Finally, Citigroup Inc. raised their price objective on Northrop Grumman Corp. from $235.00 to $243.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $221.72.
In other Northrop Grumman Corp. news, VP Christopher T. Jones sold 240 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 48,020 shares in the company, valued at $10,365,597.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth L. Bedingfield sold 125 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $212.20, for a total value of $26,525.00. Following 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.
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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