Roosevelt Investment Group Inc. trimmed its holdings in Northrop Grumman Corporation (NYSE:NOC) by 8.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 81,246 shares of the aerospace company’s stock after selling 7,884 shares during the quarter. Northrop Grumman Corporation comprises approximately 1.9% of Roosevelt Investment Group Inc.’s portfolio, making the stock its 9th biggest position. Roosevelt Investment Group Inc.’s holdings in Northrop Grumman Corporation were worth $20,857,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Teachers Advisors LLC increased its holdings in Northrop Grumman Corporation by 21.6% in the 2nd quarter. Teachers Advisors LLC now owns 516,895 shares of the aerospace company’s stock worth $132,692,000 after buying an additional 91,762 shares in the last quarter. Seven Eight Capital LP bought a new stake in Northrop Grumman Corporation in the 2nd quarter worth about $154,000. Peregrine Asset Advisers Inc. increased its holdings in Northrop Grumman Corporation by 5.0% in the 2nd quarter. Peregrine Asset Advisers Inc. now owns 2,106 shares of the aerospace company’s stock worth $541,000 after buying an additional 100 shares in the last quarter. Raymond James Trust N.A. increased its holdings in Northrop Grumman Corporation by 2.8% in the 2nd quarter. Raymond James Trust N.A. now owns 4,740 shares of the aerospace company’s stock worth $1,216,000 after buying an additional 130 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in Northrop Grumman Corporation by 13.9% in the 2nd quarter. Stephens Inc. AR now owns 4,192 shares of the aerospace company’s stock worth $1,076,000 after buying an additional 510 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.
Northrop Grumman Corporation (NOC) traded down 0.043% on Tuesday, hitting $269.185. The stock had a trading volume of 189,453 shares. The company’s 50 day moving average is $268.17 and its 200-day moving average is $254.39. Northrop Grumman Corporation has a 12 month low of $208.09 and a 12 month high of $274.61. The stock has a market cap of $46.86 billion, a P/E ratio of 20.563 and a beta of 0.66.
Northrop Grumman Corporation (NYSE:NOC) last posted its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping the consensus estimate of $2.84 by $0.31. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates 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 for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.85 earnings per share. Analysts forecast that Northrop Grumman Corporation will post $12.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 28th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio (DPR) is 30.56%.
In related news, VP Lisa R. Davis sold 367 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the sale, the vice president now directly owns 961 shares of the company’s stock, valued at $252,983.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Sid Ashworth sold 3,847 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was 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 in the company, valued at $18,059,080. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
NOC has been the subject of several research analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Argus lifted their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 4th. BidaskClub upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Royal Bank Of Canada set a $294.00 price objective on Northrop Grumman Corporation and gave the stock a “buy” rating in a report 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 price objective for the company in a report on Tuesday, September 5th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $269.86.
Northrop Grumman Corporation Company 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.
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