Pacad Investment Ltd. Sells 2,500 Shares of Northrop Grumman Corporation (NOC)
Pacad Investment Ltd. lowered its stake in Northrop Grumman Corporation (NYSE:NOC) by 25.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,200 shares of the aerospace company’s stock after selling 2,500 shares during the period. Pacad Investment Ltd.’s holdings in Northrop Grumman Corporation were worth $1,848,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. BlackRock Inc. increased its stake in 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 buying an additional 12,345,491 shares in the last quarter. Alliancebernstein L.P. increased its stake in Northrop Grumman Corporation by 64.6% in the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock valued at $749,119,000 after buying an additional 1,235,985 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in Northrop Grumman Corporation during the first quarter valued at approximately $198,691,000. Renaissance Technologies LLC increased its stake 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 valued at $235,271,000 after buying an additional 759,900 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in 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 buying an additional 531,824 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.
Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 272.21 on Friday. Northrop Grumman Corporation has a 1-year low of $206.69 and a 1-year high of $274.61. The company has a market cap of $47.39 billion, a price-to-earnings ratio of 20.79 and a beta of 0.66. The stock has a 50 day moving average of $267.64 and a 200 day moving average of $253.25.
Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter last year, the firm posted $2.85 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Analysts predict that Northrop Grumman Corporation will post $12.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 28th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, August 24th. Northrop Grumman Corporation’s payout ratio is 30.56%.
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Several equities research analysts recently commented on NOC shares. Jefferies Group LLC reiterated a “hold” rating and set a $243.00 target price on shares of Northrop Grumman Corporation in a research report on Wednesday, June 21st. Royal Bank Of Canada set a $294.00 price target on shares of Northrop Grumman Corporation and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus restated a “hold” rating and set a $255.00 price target (up previously from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Deutsche Bank AG restated a “buy” rating and set a $285.00 price target (up previously from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Finally, Vertical Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and raised their price target for the stock from $254.00 to $270.00 in a report on Wednesday, May 10th. Six research 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 stock presently has a consensus rating of “Buy” and a consensus target price of $267.36.
In related news, VP Sid Ashworth sold 3,847 shares of the firm’s stock in a transaction on 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 completion of the sale, the vice president now owns 69,458 shares of the company’s stock, valued at $18,059,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lisa R. Davis sold 367 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total value of $96,612.75. Following the completion of the sale, the vice president now directly owns 961 shares of the company’s stock, valued at approximately $252,983.25. The disclosure for this sale can be found here. Company 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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