LS Investment Advisors LLC lowered its stake in shares of Northrop Grumman Corp. (NYSE:NOC) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,243 shares of the company’s stock after selling 176 shares during the period. LS Investment Advisors LLC’s holdings in Northrop Grumman Corp. were worth $2,055,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NOC. LPL Financial LLC boosted its position 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 valued at $41,729,000 after buying an additional 48,795 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Northrop Grumman Corp. during the first quarter valued at $77,676,000. Zurich Insurance Group Ltd FI boosted its position 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 valued at $15,362,000 after buying an additional 15,911 shares in the last quarter. Integrated Investment Consultants LLC boosted its position 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 valued at $156,000 after buying an additional 55 shares in the last quarter. Finally, Shufro Rose & Co. LLC bought a new position in shares of Northrop Grumman Corp. during the first quarter valued at $281,000. Institutional investors own 82.52% of the company’s stock.
Northrop Grumman Corp. (NYSE:NOC) traded up 0.57% during trading on Friday, reaching $215.43. The company’s stock had a trading volume of 1,058,947 shares. The company has a market capitalization of $38.47 billion, a PE ratio of 19.38 and a beta of 0.72. Northrop Grumman Corp. has a 52 week low of $172.40 and a 52 week high of $224.12. The company has a 50 day moving average price of $213.57 and a 200-day moving average price of $212.68.
Northrop Grumman Corp. (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 earned $6 billion during the quarter, compared to analysts’ expectations of $5.99 billion. During the same period last year, the firm earned $2.54 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Northrop Grumman Corp. will post $11.04 earnings per share for the current year.
The business also recently disclosed 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 was Thursday, August 25th. This represents a $3.60 dividend on an annualized basis and a yield of 1.67%. Northrop Grumman Corp.’s payout ratio is 32.37%.
NOC has been the subject of several recent research reports. JPMorgan Chase & Co. cut Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $225.00 to $231.00 in a research report on Thursday, August 25th. Citigroup Inc. lifted their price target on Northrop Grumman Corp. from $235.00 to $243.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Zacks Investment Research upgraded Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $248.00 price objective for the company in a research report on Monday, July 4th. Jefferies Group boosted their price objective on Northrop Grumman Corp. from $233.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Finally, Robert W. Baird assumed coverage on Northrop Grumman Corp. in a research report on Wednesday. They issued an “outperform” rating and a $260.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $223.97.
In other news, CEO Wesley G. Bush sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $218.45, for a total value of $7,645,750.00. Following the completion of the sale, the chief executive officer now directly owns 35,000 shares of the company’s stock, valued at approximately $7,645,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher T. Jones sold 240 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $215.86, for a total value of $51,806.40. Following the completion of the sale, the vice president now directly owns 48,020 shares of the company’s stock, valued at $10,365,597.20. 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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