Quadrant Capital Group LLC boosted its stake in Northrop Grumman Corp. (NYSE:NOC) by 13.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 501 shares of the company’s stock after buying an additional 61 shares during the period. Quadrant Capital Group LLC’s holdings in Northrop Grumman Corp. were worth $106,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC boosted its position 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 in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Northrop Grumman Corp. by 5.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 337,388 shares of the company’s stock valued at $74,996,000 after buying an additional 17,255 shares in the last quarter. Terra Nova Asset Management LLC boosted its position in 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 valued at $1,592,000 after buying an additional 992 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Northrop Grumman Corp. during the first quarter valued at approximately $77,676,000. Finally, Zurich Insurance Group Ltd FI boosted its position in 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 valued at $15,362,000 after buying an additional 15,911 shares in the last quarter. 82.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Northrop Grumman Corp. (NYSE:NOC) traded up 0.41% on Monday, reaching $216.32. 520,040 shares of the company traded hands. Northrop Grumman Corp. has a 1-year low of $172.40 and a 1-year high of $224.12. The stock has a 50-day moving average price of $213.57 and a 200 day moving average price of $212.68. The firm has a market capitalization of $38.63 billion, a P/E ratio of 19.46 and a beta of 0.72.
Northrop Grumman Corp. (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $2.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.32. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate 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 was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $2.54 EPS. Analysts anticipate that Northrop Grumman Corp. will post $11.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders 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 dividend yield of 1.66%. Northrop Grumman Corp.’s payout ratio is 32.37%.
NOC has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut shares of Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $225.00 to $231.00 in a research report on Thursday, August 25th. Citigroup Inc. lifted their price target on shares of Northrop Grumman Corp. from $235.00 to $243.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Zacks Investment Research raised shares of Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $248.00 price target on the stock in a report on Monday, July 4th. 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 report on Thursday, July 28th. Finally, Robert W. Baird began coverage on shares of Northrop Grumman Corp. in a report on Wednesday, October 5th. They issued an “outperform” rating and a $260.00 price target on the stock. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $223.97.
In related news, VP Christopher T. Jones sold 240 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were 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 of the company’s stock, 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, CFO Kenneth L. Bedingfield sold 125 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $212.20, for a total transaction of $26,525.00. Following the transaction, the chief financial officer now directly owns 18,626 shares of the company’s stock, valued at $3,952,437.20. The disclosure for this sale can be found here. 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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