Dimensional Fund Advisors LP Sells 2,619 Shares of Northrop Grumman Co. (NOC)
Dimensional Fund Advisors LP trimmed its position in Northrop Grumman Co. (NYSE:NOC) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,418 shares of the aerospace company’s stock after selling 2,619 shares during the period. Dimensional Fund Advisors LP owned about 0.29% of Northrop Grumman worth $143,971,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Northrop Grumman by 1.5% in the 2nd 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 in the last quarter. BlackRock Inc. lifted its holdings in shares of Northrop Grumman 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 acquiring an additional 109,532 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Northrop Grumman 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 acquiring an additional 151,154 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Northrop Grumman by 41,518.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock worth $749,585,000 after acquiring an additional 2,912,953 shares during the period. Finally, Capital International Investors lifted its holdings in shares of Northrop Grumman by 7.6% during the 2nd quarter. Capital International Investors now owns 1,758,501 shares of the aerospace company’s stock worth $451,425,000 after acquiring an additional 124,500 shares during the period. Institutional investors own 81.33% of the company’s stock.
In related news, COO Gloria A. Flach sold 7,741 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $296.45, for a total value of $2,294,819.45. Following the transaction, the chief operating officer now owns 77,200 shares in the company, valued at $22,885,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Denise M. Peppard sold 5,037 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $295.67, for a total transaction of $1,489,289.79. Following the completion of the transaction, the vice president now owns 58,186 shares in the company, valued at approximately $17,203,854.62. The disclosure for this sale can be found here. Insiders sold 21,417 shares of company stock worth $6,365,189 in the last 90 days. 0.70% of the stock is currently owned by insiders.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.76. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The firm had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter last year, the firm posted $3.35 earnings per share. Northrop Grumman’s revenue for the quarter was up 6.0% compared to the same quarter last year. sell-side analysts anticipate that Northrop Grumman Co. will post 13.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 4th will be issued a $1.00 dividend. The ex-dividend date is Friday, December 1st. This represents a $4.00 annualized dividend and a yield of 1.30%. Northrop Grumman’s payout ratio is 29.81%.
Several research analysts have recently weighed in on the stock. J P Morgan Chase & Co upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $317.00 to $355.00 in a report on Tuesday. Cowen reiterated a “hold” rating and set a $310.00 price objective on shares of Northrop Grumman in a report on Wednesday, November 22nd. Royal Bank of Canada set a $374.00 price objective on shares of Northrop Grumman and gave the stock a “buy” rating in a report on Thursday, November 16th. Zacks Investment Research lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Bank of America set a $350.00 price objective on shares of Northrop Grumman and gave the stock a “buy” rating in a report on Friday, October 27th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Northrop Grumman has a consensus rating of “Buy” and a consensus target price of $298.67.
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Northrop Grumman 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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