Mastrapasqua Asset Management Inc. Sells 615 Shares of Northrop Grumman Corporation (NOC)
Mastrapasqua Asset Management Inc. cut its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,609 shares of the aerospace company’s stock after selling 615 shares during the period. Mastrapasqua Asset Management Inc.’s holdings in Northrop Grumman Corporation were worth $5,804,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of NOC. Shelton Capital Management raised its position in Northrop Grumman Corporation by 70.5% in the first quarter. Shelton Capital Management now owns 17,200 shares of the aerospace company’s stock worth $4,091,000 after buying an additional 7,112 shares in the last quarter. Evermay Wealth Management LLC bought a new position in Northrop Grumman Corporation during the first quarter worth $286,000. Holderness Investments Co. raised its position in Northrop Grumman Corporation by 38.6% in the first quarter. Holderness Investments Co. now owns 2,587 shares of the aerospace company’s stock worth $615,000 after buying an additional 720 shares in the last quarter. Renaissance Technologies LLC raised its position in Northrop Grumman Corporation by 331.4% in the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after buying an additional 759,900 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Northrop Grumman Corporation by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,418 shares of the aerospace company’s stock worth $3,191,000 after buying an additional 84 shares in the last quarter. Institutional investors own 81.80% of the company’s stock.
Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 268.54 on Friday. The firm has a 50-day moving average price of $266.48 and a 200-day moving average price of $251.95. Northrop Grumman Corporation has a 52-week low of $206.69 and a 52-week high of $274.61. The stock has a market capitalization of $46.75 billion, a P/E ratio of 20.51 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.31. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.85 earnings per share. On average, analysts predict that Northrop Grumman Corporation will post $12.55 EPS for the current year.
The firm also recently announced 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 is Thursday, August 24th. This represents a $4.00 dividend on an annualized basis and a yield of 1.49%. Northrop Grumman Corporation’s dividend payout ratio is presently 30.56%.
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A number of research analysts have recently weighed in on NOC shares. Deutsche Bank AG restated a “buy” rating and issued a $285.00 target price (up previously from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and set a $309.00 price target on shares of Northrop Grumman Corporation in a research report on Wednesday. Cowen and Company reaffirmed a “hold” rating and set a $275.00 price target on shares of Northrop Grumman Corporation in a research report on Monday, July 17th. BidaskClub downgraded Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Morgan Stanley started coverage on Northrop Grumman Corporation in a research report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price target for the company. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Northrop Grumman Corporation currently has an average rating of “Buy” and a consensus target price of $263.21.
In related news, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the completion of the transaction, the vice president now directly owns 961 shares in the company, valued at $252,983.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sid Ashworth sold 3,847 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the transaction, the vice president now owns 69,458 shares of the company’s stock, valued at $18,059,080. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
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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