Ajo LP Buys 42,834 Shares of Northrop Grumman Corporation (NOC)

Ajo LP grew its stake in Northrop Grumman Corporation (NYSE:NOC) by 17.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,801 shares of the aerospace company’s stock after acquiring an additional 42,834 shares during the quarter. Ajo LP owned about 0.17% of Northrop Grumman Corporation worth $75,422,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Northrop Grumman Corporation by 2,871.7% in the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock valued at $3,038,501,000 after acquiring an additional 12,345,491 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Northrop Grumman Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock valued at $3,035,847,000 after acquiring an additional 531,824 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Northrop Grumman Corporation by 5.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,617,954 shares of the aerospace company’s stock valued at $1,098,335,000 after acquiring an additional 239,260 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Northrop Grumman Corporation by 4.8% in the second quarter. Alliancebernstein L.P. now owns 3,300,832 shares of the aerospace company’s stock valued at $847,357,000 after acquiring an additional 151,154 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Northrop Grumman Corporation by 4.8% in the first quarter. Wellington Management Group LLP now owns 2,878,724 shares of the aerospace company’s stock valued at $684,676,000 after acquiring an additional 131,008 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

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NOC has been the topic of several recent research reports. Deutsche Bank AG restated a “buy” rating and issued a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Argus upped their target price on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 4th. BidaskClub upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Royal Bank Of Canada set a $294.00 target price on Northrop Grumman Corporation and gave the company a “buy” rating in a research note on Tuesday, August 29th. Finally, Zacks Investment Research upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $305.00 target price for the company in a research note on Tuesday, September 5th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Northrop Grumman Corporation presently has a consensus rating of “Buy” and a consensus price target of $269.86.

In related news, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the completion of the sale, the vice president now owns 961 shares of the company’s stock, valued at $252,983.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sid Ashworth sold 3,847 shares of Northrop Grumman Corporation stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total value of $1,000,220.00. Following the sale, the vice president now directly owns 69,458 shares of the company’s stock, valued at approximately $18,059,080. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Shares of Northrop Grumman Corporation (NOC) opened at 269.325 on Tuesday. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of 20.573 and a beta of 0.66. Northrop Grumman Corporation has a 52 week low of $208.09 and a 52 week high of $274.61. The firm’s 50-day moving average price is $268.17 and its 200 day moving average price is $254.39.

Northrop Grumman Corporation (NYSE:NOC) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.31. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.21 billion. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. Northrop Grumman Corporation’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.85 earnings per share. On average, analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 28th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $4.00 dividend on an annualized basis and a yield of 1.49%. Northrop Grumman Corporation’s payout ratio is 30.56%.

Northrop Grumman Corporation Profile

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

Institutional Ownership by Quarter for Northrop Grumman Corporation (NYSE:NOC)

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