Markston International LLC cut its position in Northrop Grumman Corp. (NYSE:NOC) by 2.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,234 shares of the company’s stock after selling 724 shares during the period. Markston International LLC’s holdings in Northrop Grumman Corp. were worth $6,942,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position 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 worth $665,472,000 after buying an additional 600,388 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Northrop Grumman Corp. during the first quarter worth about $77,676,000. Bank of Montreal Can acquired a new position in shares of Northrop Grumman Corp. during the second quarter worth about $76,299,000. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Northrop Grumman Corp. during the second quarter worth about $30,103,000. Finally, Anchor Bolt Capital LP acquired a new position in shares of Northrop Grumman Corp. during the first quarter worth about $23,604,000. 82.52% of the stock is currently owned by hedge funds and other institutional investors.
Northrop Grumman Corp. (NYSE:NOC) traded down 0.07% during trading on Wednesday, reaching $217.90. 618,758 shares of the company were exchanged. The firm has a 50-day moving average of $214.38 and a 200-day moving average of $211.68. The firm has a market cap of $38.91 billion, a price-to-earnings ratio of 19.60 and a beta of 0.73. Northrop Grumman Corp. has a 52-week low of $162.68 and a 52-week high of $224.12.
Northrop Grumman Corp. (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 27th. The company reported $2.85 EPS for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.32. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.99 billion. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 earnings per share. On average, equities analysts forecast that Northrop Grumman Corp. will post $11.04 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Monday, August 29th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $3.60 dividend on an annualized basis and a yield of 1.65%. Northrop Grumman Corp.’s dividend payout ratio (DPR) is presently 32.37%.
A number of equities analysts have issued reports on NOC shares. Zacks Investment Research cut shares of Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. JPMorgan Chase & Co. lowered shares of Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and raised their price target for the company from $225.00 to $231.00 in a research note on Thursday, August 25th. Jefferies Group raised their price target 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. Argus restated a “buy” rating on shares of Northrop Grumman Corp. in a research note on Tuesday, August 2nd. Finally, Citigroup Inc. raised their price target 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. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Northrop Grumman Corp. currently has a consensus rating of “Hold” and an average price target of $221.72.
In other Northrop Grumman Corp. news, VP Christopher T. Jones sold 240 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $222.50, for a total value of $53,400.00. Following the transaction, 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 is available through this link. Also, CFO Kenneth L. Bedingfield sold 125 shares of the business’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 transaction, the chief financial officer now owns 18,626 shares in the company, valued at $3,952,437.20. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
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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