Prospera Financial Services Inc reduced its position in shares of Northrop Grumman Corp. (NYSE:NOC) by 14.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,193 shares of the company’s stock after selling 197 shares during the period. Prospera Financial Services Inc’s holdings in Northrop Grumman Corp. were worth $265,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. LPL Financial LLC increased its stake in shares of Northrop Grumman Corp. by 31.0% in the first quarter. LPL Financial LLC now owns 206,304 shares of the company’s stock worth $41,729,000 after buying an additional 48,795 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Northrop Grumman Corp. during the first quarter worth $77,676,000. Terra Nova Asset Management LLC increased its stake in shares of Northrop Grumman Corp. by 16.1% in the second quarter. Terra Nova Asset Management LLC now owns 7,160 shares of the company’s stock worth $1,592,000 after buying an additional 992 shares in the last quarter. Zurich Insurance Group Ltd FI increased its stake in shares of Northrop Grumman Corp. by 25.8% in the first quarter. Zurich Insurance Group Ltd FI now owns 77,626 shares of the company’s stock worth $15,362,000 after buying an additional 15,911 shares in the last quarter. Finally, 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 in the last quarter. Institutional investors own 82.52% of the company’s stock.
Shares of Northrop Grumman Corp. (NYSE:NOC) traded up 0.26% during mid-day trading on Friday, hitting $217.05. 781,619 shares of the stock were exchanged. The firm has a market cap of $38.76 billion, a P/E ratio of 19.53 and a beta of 0.73. The stock’s 50 day moving average is $214.38 and its 200 day moving average is $210.90. Northrop Grumman Corp. has a 12 month low of $161.81 and a 12 month high of $224.12.
Northrop Grumman Corp. (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 27th. The company reported $2.85 earnings per share for the quarter, beating 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 company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.99 billion. During the same quarter in the prior year, the firm posted $2.54 EPS. Northrop Grumman Corp.’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts expect that Northrop Grumman Corp. will post $11.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 29th were issued 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 1.66%. Northrop Grumman Corp.’s payout ratio is presently 32.37%.
Several research firms have commented on NOC. Zacks Investment Research downgraded shares of Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Vetr downgraded shares of Northrop Grumman Corp. from a “buy” rating to a “hold” rating and set a $224.44 price target on the stock. in a research note on Wednesday, June 8th. Argus reissued a “buy” rating on shares of Northrop Grumman Corp. in a research note on Tuesday, August 2nd. Cowen and Company reissued a “market perform” rating and set a $227.00 price target (up from $220.00) on shares of Northrop Grumman Corp. in a research note on Wednesday, June 15th. Finally, Jefferies Group lifted their price target on shares of Northrop Grumman Corp. from $233.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Northrop Grumman Corp. presently has an average rating of “Hold” and an average target price of $221.72.
In related news, CFO Kenneth L. Bedingfield sold 125 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $212.20, for a total transaction of $26,525.00. Following the sale, the chief financial officer now owns 18,626 shares in the company, valued at approximately $3,952,437.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wesley G. Bush sold 35,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $218.45, for a total value of $7,645,750.00. Following the sale, the chief executive officer now owns 35,000 shares in the company, valued at approximately $7,645,750. The disclosure for this sale can be found here. Corporate 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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