Rockefeller Capital Management L.P. grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 12.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,821 shares of the aerospace company’s stock after acquiring an additional 2,474 shares during the period. Rockefeller Capital Management L.P.’s holdings in Northrop Grumman were worth $8,293,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Solstein Capital LLC purchased a new position in shares of Northrop Grumman in the 1st quarter valued at $25,000. Centerpoint Advisors LLC purchased a new position in shares of Northrop Grumman in the 2nd quarter valued at $27,000. D Orazio & Associates Inc. raised its stake in shares of Northrop Grumman by 141.9% in the 2nd quarter. D Orazio & Associates Inc. now owns 75 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 44 shares during the period. North Star Investment Management Corp. raised its stake in shares of Northrop Grumman by 56.1% in the 2nd quarter. North Star Investment Management Corp. now owns 89 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 32 shares during the period. Finally, Certified Advisory Corp purchased a new position in shares of Northrop Grumman in the 1st quarter valued at $33,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.
NYSE NOC opened at $351.73 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.39 and a current ratio of 1.49. The company has a 50-day simple moving average of $362.99 and a 200-day simple moving average of $352.77. The firm has a market capitalization of $56.32 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.59 and a beta of 0.84. Northrop Grumman Co. has a one year low of $282.88 and a one year high of $379.03.
The company also recently announced a dividend, which was paid on Thursday, September 2nd. Shareholders of record on Monday, August 23rd were paid a dividend of $0.14 per share. This represents a yield of 0.15%. The ex-dividend date was Friday, August 20th. Northrop Grumman’s payout ratio is 26.55%.
In other Northrop Grumman news, VP Thomas H. Jones sold 235 shares of the business’s stock in a transaction dated Tuesday, August 17th. The shares were sold at an average price of $370.00, for a total transaction of $86,950.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mary D. Petryszyn sold 892 shares of the business’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $358.65, for a total transaction of $319,915.80. Following the sale, the vice president now owns 12,991 shares in the company, valued at $4,659,222.15. The disclosure for this sale can be found here. Insiders have sold a total of 1,597 shares of company stock valued at $576,700 over the last three months. 0.25% of the stock is currently owned by company insiders.
NOC has been the topic of several analyst reports. Stifel Nicolaus raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and lifted their price target for the stock from $350.00 to $475.00 in a research note on Friday, June 4th. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $391.00 target price for the company in a research report on Tuesday, July 6th. Seaport Global Securities boosted their target price on shares of Northrop Grumman from $398.00 to $419.00 and gave the stock a “buy” rating in a research report on Monday, July 19th. Finally, Wells Fargo & Company boosted their target price on shares of Northrop Grumman from $330.00 to $335.00 and gave the stock an “underweight” rating in a research report on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $399.10.
Northrop Grumman Profile
Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.
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