Great West Life Assurance Co. Can decreased its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 4.4% during the second quarter, HoldingsChannel.com reports. The fund owned 67,112 shares of the aerospace company’s stock after selling 3,100 shares during the period. Great West Life Assurance Co. Can’s holdings in Northrop Grumman were worth $20,574,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in Northrop Grumman by 87.6% during the first quarter. Wellington Management Group LLP now owns 5,709,638 shares of the aerospace company’s stock worth $1,727,450,000 after buying an additional 2,666,917 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Northrop Grumman by 12.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,818,653 shares of the aerospace company’s stock valued at $1,760,434,000 after buying an additional 629,137 shares in the last quarter. BlackRock Inc. grew its stake in Northrop Grumman by 4.7% in the 2nd quarter. BlackRock Inc. now owns 9,886,106 shares of the aerospace company’s stock valued at $3,039,384,000 after buying an additional 447,549 shares in the last quarter. Epoch Investment Partners Inc. purchased a new position in shares of Northrop Grumman during the 2nd quarter valued at $136,048,000. Finally, Advisor Group Holdings Inc. purchased a new position in shares of Northrop Grumman during the 1st quarter valued at $21,230,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE NOC traded up $2.81 during mid-day trading on Wednesday, reaching $340.83. 3,470 shares of the company were exchanged, compared to its average volume of 1,013,938. Northrop Grumman Co. has a 52 week low of $263.31 and a 52 week high of $385.01. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $56.35 billion, a PE ratio of 23.77 and a beta of 0.77. The company’s 50 day moving average price is $335.61 and its 200 day moving average price is $324.34.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, July 30th. The aerospace company reported $6.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.32 by $0.69. Northrop Grumman had a net margin of 6.91% and a return on equity of 40.24%. The company had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $8.66 billion. During the same period in the previous year, the firm posted $5.06 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts predict that Northrop Grumman Co. will post 22.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, August 28th. Northrop Grumman’s dividend payout ratio is presently 27.35%.
A number of research firms have recently commented on NOC. Royal Bank of Canada boosted their price target on shares of Northrop Grumman from $366.00 to $391.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. UBS Group reduced their price target on shares of Northrop Grumman from $410.00 to $373.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. ValuEngine upgraded shares of Northrop Grumman from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Jefferies Financial Group restated a “buy” rating and set a $375.00 price target on shares of Northrop Grumman in a research report on Thursday, June 25th. Finally, Morgan Stanley began coverage on shares of Northrop Grumman in a research report on Tuesday, September 8th. They set an “overweight” rating and a $470.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Northrop Grumman presently has a consensus rating of “Hold” and an average price target of $390.80.
In other Northrop Grumman news, VP David T. Perry sold 5,091 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $326.83, for a total value of $1,663,891.53. Following the completion of the sale, the vice president now directly owns 9,508 shares of the company’s stock, valued at $3,107,499.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.
Northrop Grumman Company Profile
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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