Capital Guardian Trust Co. Has $4.59 Million Holdings in Northrop Grumman Corporation (NOC)
Capital Guardian Trust Co. cut its stake in Northrop Grumman Corporation (NYSE:NOC) by 84.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,860 shares of the aerospace company’s stock after selling 95,042 shares during the quarter. Capital Guardian Trust Co.’s holdings in Northrop Grumman Corporation were worth $4,585,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Northrop Grumman Corporation by 2,871.7% during the 1st quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock valued at $3,038,501,000 after acquiring an additional 12,345,491 shares during the last quarter. Alliancebernstein L.P. increased its position in Northrop Grumman Corporation by 64.6% during the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock worth $749,119,000 after purchasing an additional 1,235,985 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in Northrop Grumman Corporation during the first quarter worth about $198,691,000. Renaissance Technologies LLC increased its position in Northrop Grumman Corporation by 331.4% during the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after purchasing an additional 759,900 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Northrop Grumman Corporation by 4.3% during the first quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock worth $3,035,847,000 after purchasing an additional 531,824 shares during the last quarter. 81.37% of the stock is owned by institutional investors and hedge funds.
Northrop Grumman Corporation (NYSE:NOC) traded up 0.47% during trading on Tuesday, reaching $291.27. The company had a trading volume of 74,354 shares. The firm’s 50 day moving average is $273.26 and its 200-day moving average is $258.24. The company has a market capitalization of $50.71 billion, a P/E ratio of 22.25 and a beta of 0.68. Northrop Grumman Corporation has a 12 month low of $212.02 and a 12 month high of $291.50.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping the consensus estimate of $2.84 by $0.31. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates 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 for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.85 EPS. On average, equities analysts expect that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio (DPR) is 30.56%.
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Several equities analysts have weighed in on NOC shares. Deutsche Bank AG reiterated a “buy” rating and issued a $325.00 target price (up from $285.00) on shares of Northrop Grumman Corporation in a report on Monday. Jefferies Group LLC restated a “hold” rating and set a $269.00 price target on shares of Northrop Grumman Corporation in a report on Friday. Zacks Investment Research downgraded shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Stifel Nicolaus restated a “hold” rating and set a $255.00 price target on shares of Northrop Grumman Corporation in a report on Thursday, September 21st. Finally, Vertical Research reaffirmed a “buy” rating and set a $296.00 price target (up previously from $280.00) on shares of Northrop Grumman Corporation in a research report on Wednesday, September 20th. Seven 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 stock. Northrop Grumman Corporation presently has a consensus rating of “Buy” and a consensus target price of $276.72.
In other news, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction that occurred 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 sale, the vice president now owns 961 shares in the company, valued at $252,983.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by company insiders.
Northrop Grumman Corporation 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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