Syntal Capital Partners LLC trimmed its holdings in Northrop Grumman Co. (NYSE:NOC) by 17.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,923 shares of the aerospace company’s stock after selling 637 shares during the quarter. Syntal Capital Partners LLC’s holdings in Northrop Grumman were worth $1,062,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Solstein Capital LLC bought a new stake in Northrop Grumman during the 1st quarter worth about $25,000. Centerpoint Advisors LLC bought a new stake in Northrop Grumman during the 2nd quarter worth about $27,000. D Orazio & Associates Inc. raised its holdings in Northrop Grumman by 141.9% during the 2nd quarter. D Orazio & Associates Inc. now owns 75 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 44 shares during the last quarter. North Star Investment Management Corp. raised its holdings in Northrop Grumman by 56.1% during the 2nd quarter. North Star Investment Management Corp. now owns 89 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Certified Advisory Corp bought a new stake in Northrop Grumman during the 1st quarter worth about $33,000. 81.91% of the stock is owned by institutional investors and hedge funds.
NOC has been the subject of several recent research reports. Stifel Nicolaus raised Northrop Grumman from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $350.00 to $475.00 in a report on Friday, June 4th. The Goldman Sachs Group upgraded Northrop Grumman from a “sell” rating to a “neutral” rating and set a $350.00 target price for the company in a research report on Thursday. Zacks Investment Research upgraded 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. Wells Fargo & Company boosted their target price on Northrop Grumman from $330.00 to $335.00 and gave the stock an “underweight” rating in a research report on Monday, August 2nd. Finally, Seaport Global Securities boosted their target price on Northrop Grumman from $398.00 to $419.00 and gave the stock a “buy” rating in a research report on Monday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $394.64.
Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, July 29th. The aerospace company reported $6.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.75 by $0.67. Northrop Grumman had a return on equity of 39.32% and a net margin of 12.10%. The firm had revenue of $9.15 billion for the quarter, compared to analysts’ expectations of $8.71 billion. As a group, equities analysts anticipate that Northrop Grumman Co. will post 24.83 earnings per share for the current fiscal year.
The firm also recently declared a dividend, which was paid on Thursday, September 2nd. Investors of record on Monday, August 23rd were paid a $0.14 dividend. This represents a yield of 0.15%. The ex-dividend date of this dividend was Friday, August 20th. Northrop Grumman’s dividend payout ratio (DPR) is presently 26.55%.
In other news, VP Thomas H. Jones sold 235 shares of the stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $370.00, for a total transaction of $86,950.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas H. Jones sold 470 shares of the stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $361.35, for a total value of $169,834.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,597 shares of company stock worth $576,700. 0.25% of the stock is owned by company insiders.
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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