1st Global Advisors Inc. Reduces Position in Northrop Grumman Corporation (NOC)
1st Global Advisors Inc. decreased its stake in Northrop Grumman Corporation (NYSE:NOC) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,648 shares of the aerospace company’s stock after selling 167 shares during the period. 1st Global Advisors Inc.’s holdings in Northrop Grumman Corporation were worth $1,963,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of NOC. BlackRock Inc. lifted its stake in Northrop Grumman Corporation by 2,871.7% in the 1st quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock valued at $3,038,501,000 after purchasing an additional 12,345,491 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Northrop Grumman Corporation by 41,518.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock valued at $749,585,000 after purchasing an additional 2,912,953 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Northrop Grumman Corporation by 64.6% in the 1st quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock valued at $749,119,000 after purchasing an additional 1,235,985 shares during the last quarter. Winslow Capital Management LLC bought a new position in Northrop Grumman Corporation in the 1st quarter valued at approximately $198,691,000. Finally, Renaissance Technologies LLC lifted its stake in Northrop Grumman Corporation by 331.4% in the 1st quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock valued at $235,271,000 after purchasing an additional 759,900 shares during the last quarter. 81.37% of the stock is owned by institutional investors and hedge funds.
In related news, VP Lisa R. Davis sold 367 shares of the company’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 sale, the vice president now directly owns 961 shares in the company, valued at approximately $252,983.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.70% of the company’s stock.
Northrop Grumman Corporation (NYSE:NOC) traded down 0.424% during midday trading on Friday, hitting $297.415. 187,973 shares of the stock traded hands. Northrop Grumman Corporation has a 52 week low of $214.59 and a 52 week high of $299.33. The company has a market capitalization of $51.78 billion, a price-to-earnings ratio of 22.719 and a beta of 0.68. The stock’s 50-day moving average price is $278.71 and its 200 day moving average price is $261.03.
Northrop Grumman Corporation (NYSE:NOC) last posted 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. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the prior year, the business posted $2.85 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts predict that Northrop Grumman Corporation will post $12.55 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 28th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $4.00 dividend on an annualized basis and a yield of 1.34%. Northrop Grumman Corporation’s dividend payout ratio is currently 30.56%.
Several brokerages recently commented on NOC. Zacks Investment Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $309.00 price objective for the company in a research note on Wednesday, September 20th. Deutsche Bank AG reissued a “buy” rating and issued a $325.00 price objective (up previously from $285.00) on shares of Northrop Grumman Corporation in a research note on Monday, October 2nd. Argus increased 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 note on Friday, August 4th. Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a research note on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price objective for the company. Finally, BidaskClub downgraded shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $276.72.
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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