Capital World Investors Sells 54,000 Shares of Northrop Grumman Corporation (NOC)
Capital World Investors reduced its stake in Northrop Grumman Corporation (NYSE:NOC) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,026,652 shares of the aerospace company’s stock after selling 54,000 shares during the period. Capital World Investors owned approximately 3.46% of Northrop Grumman Corporation worth $1,547,102,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in NOC. Vanguard Group Inc. boosted its holdings in Northrop Grumman Corporation by 1.5% in 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 during the period. BlackRock Inc. grew its stake in Northrop Grumman Corporation by 0.9% during the 2nd quarter. BlackRock Inc. now owns 12,884,929 shares of the aerospace company’s stock worth $3,307,687,000 after purchasing an additional 109,532 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Northrop Grumman Corporation by 5.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,617,954 shares of the aerospace company’s stock worth $1,098,335,000 after purchasing an additional 239,260 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Northrop Grumman Corporation by 4.8% during the 2nd quarter. Alliancebernstein L.P. now owns 3,300,832 shares of the aerospace company’s stock worth $847,357,000 after purchasing an additional 151,154 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Northrop Grumman Corporation by 4.8% during the 1st quarter. Wellington Management Group LLP now owns 2,878,724 shares of the aerospace company’s stock worth $684,676,000 after purchasing an additional 131,008 shares during the period. Institutional investors and hedge funds own 81.37% of the company’s stock.
In related news, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction on Tuesday, August 1st. The shares were 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 in the company, valued at $252,983.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.
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NOC has been the subject of several recent research reports. Stifel Nicolaus reiterated a “hold” rating and issued a $255.00 price objective (up previously from $245.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Deutsche Bank AG restated a “buy” rating and set a $285.00 target price (up from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. BidaskClub upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $243.00 target price on shares of Northrop Grumman Corporation in a report on Wednesday, June 21st. Finally, Royal Bank Of Canada set a $294.00 target price on shares of Northrop Grumman Corporation and gave the company a “buy” rating in a report on Tuesday, August 29th. Seven investment 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 stock. Northrop Grumman Corporation has a consensus rating of “Buy” and an average target price of $273.86.
Shares of Northrop Grumman Corporation (NOC) traded up 0.05% during midday trading on Monday, reaching $287.85. 127,494 shares of the company were exchanged. The company has a market capitalization of $50.11 billion, a PE ratio of 21.99 and a beta of 0.68. Northrop Grumman Corporation has a 52-week low of $210.60 and a 52-week high of $288.76. The stock’s 50-day moving average price is $269.39 and its 200-day moving average price is $255.59.
Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the business earned $2.85 EPS. Northrop Grumman Corporation’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio (DPR) is currently 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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