Providence First Trust Co purchased a new stake in shares of Northrop Grumman Corporation (NYSE:NOC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,779 shares of the aerospace company’s stock, valued at approximately $1,227,000.

Other institutional investors have also recently bought and sold shares of the company. BB&T Corp boosted its position in shares of Northrop Grumman Corporation by 2.5% in the first quarter. BB&T Corp now owns 3,143 shares of the aerospace company’s stock worth $747,000 after buying an additional 78 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Northrop Grumman Corporation by 7.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,862 shares of the aerospace company’s stock worth $3,296,000 after buying an additional 1,018 shares during the period. Wetherby Asset Management Inc. boosted its position in shares of Northrop Grumman Corporation by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,107 shares of the aerospace company’s stock worth $739,000 after buying an additional 12 shares during the period. Agran Libbie boosted its position in shares of Northrop Grumman Corporation by 5.0% in the first quarter. Agran Libbie now owns 3,750 shares of the aerospace company’s stock worth $892,000 after buying an additional 180 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Northrop Grumman Corporation by 50.9% in the first quarter. Cullen Frost Bankers Inc. now owns 7,554 shares of the aerospace company’s stock worth $1,796,000 after buying an additional 2,549 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

Northrop Grumman Corporation (NYSE:NOC) opened at 272.21 on Friday. The firm has a market cap of $47.39 billion, a price-to-earnings ratio of 20.79 and a beta of 0.66. The firm’s 50 day moving average price is $267.64 and its 200 day moving average price is $253.25. Northrop Grumman Corporation has a 52-week low of $206.69 and a 52-week high of $274.61.

Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the Zacks’ consensus estimate 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 return on equity of 39.22% and a net margin of 9.20%. Northrop Grumman Corporation’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $2.85 earnings per share. Equities research analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal 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 given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend 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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A number of equities analysts have issued reports on NOC shares. Vertical Research upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $254.00 to $270.00 in a report on Wednesday, May 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $243.00 price target on shares of Northrop Grumman Corporation in a research report on Wednesday, June 21st. 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. Stifel Nicolaus reaffirmed a “hold” rating and set a $255.00 price target (up previously from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $285.00 price target (up previously from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $267.36.

In related news, VP Lisa R. Davis sold 367 shares of the stock in a transaction that occurred 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 directly owns 961 shares of the company’s stock, valued at $252,983.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sid Ashworth sold 3,847 shares of the stock in a transaction that occurred 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 $18,059,080. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

About Northrop Grumman Corporation

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

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