Northrop Grumman Corporation (NOC) Shares Sold by Shelton Capital Management
Shelton Capital Management cut its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 41.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,088 shares of the aerospace company’s stock after selling 7,112 shares during the period. Shelton Capital Management’s holdings in Northrop Grumman Corporation were worth $2,590,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Northrop Grumman Corporation by 1.5% during the second quarter. Vanguard Group Inc. now owns 12,956,906 shares of the aerospace company’s stock valued at $3,326,168,000 after purchasing an additional 192,667 shares in the last quarter. BlackRock Inc. grew its position in Northrop Grumman Corporation by 0.9% during the second quarter. BlackRock Inc. now owns 12,884,929 shares of the aerospace company’s stock valued at $3,307,687,000 after purchasing an additional 109,532 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Northrop Grumman Corporation by 5.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,617,954 shares of the aerospace company’s stock valued at $1,098,335,000 after purchasing an additional 239,260 shares in the last quarter. Alliancebernstein L.P. grew its position in Northrop Grumman Corporation by 4.8% during the second quarter. Alliancebernstein L.P. now owns 3,300,832 shares of the aerospace company’s stock valued at $847,357,000 after purchasing an additional 151,154 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Northrop Grumman Corporation by 4.8% during the first quarter. Wellington Management Group LLP now owns 2,878,724 shares of the aerospace company’s stock valued at $684,676,000 after purchasing an additional 131,008 shares in the last quarter. 81.37% of the stock is currently owned by hedge funds and other institutional investors.
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In other 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 value of $96,612.75. Following the completion of the sale, the vice president now owns 961 shares of the company’s stock, valued at approximately $252,983.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.70% of the company’s stock.
A number of brokerages recently commented on NOC. Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a research report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective on the stock. BidaskClub raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $269.00 price objective on shares of Northrop Grumman Corporation in a research report on Friday, September 29th. Argus boosted their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $325.00 price objective (up from $285.00) on shares of Northrop Grumman Corporation in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $276.72.
Shares of Northrop Grumman Corporation (NYSE:NOC) traded down 0.03% during mid-day trading on Thursday, hitting $292.08. 81,020 shares of the stock were exchanged. The firm has a 50-day moving average price of $274.42 and a 200 day moving average price of $258.83. Northrop Grumman Corporation has a 12-month low of $212.02 and a 12-month high of $292.61. The company has a market capitalization of $50.85 billion, a PE ratio of 22.31 and a beta of 0.68.
Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.31. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.85 EPS. On average, equities research analysts expect that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Thursday, August 24th. Northrop Grumman Corporation’s payout ratio is presently 30.56%.
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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