Huber Capital Management LLC Lowers Position in Northrop Grumman Corporation (NOC)
Huber Capital Management LLC reduced its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,243 shares of the aerospace company’s stock after selling 4,400 shares during the period. Northrop Grumman Corporation accounts for about 2.3% of Huber Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Huber Capital Management LLC owned about 0.10% of Northrop Grumman Corporation worth $45,757,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of NOC. OxFORD Asset Management LLP raised its holdings in Northrop Grumman Corporation by 1,566.4% in the second quarter. OxFORD Asset Management LLP now owns 36,194 shares of the aerospace company’s stock worth $9,291,000 after buying an additional 34,022 shares during the last quarter. Evercore Wealth Management LLC raised its holdings in Northrop Grumman Corporation by 132.6% in the second quarter. Evercore Wealth Management LLC now owns 614 shares of the aerospace company’s stock worth $158,000 after buying an additional 350 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Northrop Grumman Corporation by 25.9% in the second quarter. Renaissance Technologies LLC now owns 1,245,400 shares of the aerospace company’s stock worth $319,707,000 after buying an additional 256,200 shares during the last quarter. TLP Group LLC purchased a new position in Northrop Grumman Corporation in the second quarter worth about $263,000. Finally, Baker Avenue Asset Management LP raised its holdings in Northrop Grumman Corporation by 1.8% in the second quarter. Baker Avenue Asset Management LP now owns 13,797 shares of the aerospace company’s stock worth $3,542,000 after buying an additional 240 shares during the last quarter. 81.37% of the stock is owned by institutional investors.
Several brokerages have issued reports on NOC. Zacks Investment Research cut shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $255.00 target price on shares of Northrop Grumman Corporation in a report on Thursday, September 21st. Vertical Research reaffirmed a “buy” rating and issued a $296.00 target price (up from $280.00) on shares of Northrop Grumman Corporation in a report on Wednesday, September 20th. Royal Bank Of Canada set a $294.00 target price on shares of Northrop Grumman Corporation and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $275.00 target price on shares of Northrop Grumman Corporation in a report on Thursday, August 24th. Seven equities 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 company. The stock presently has a consensus rating of “Buy” and an average target price of $272.01.
In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 961 shares of the company’s stock, valued at approximately $252,983.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.
Northrop Grumman Corporation (NYSE:NOC) traded up 0.29% on Tuesday, hitting $282.18. 196,223 shares of the stock traded hands. The firm has a 50-day moving average price of $269.39 and a 200-day moving average price of $255.59. Northrop Grumman Corporation has a 12 month low of $210.60 and a 12 month high of $283.32. The company has a market capitalization of $49.13 billion, a PE ratio of 21.56 and a beta of 0.66.
Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.31. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. Northrop Grumman Corporation’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $2.85 EPS. Analysts forecast that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio is presently 30.56%.
About Northrop Grumman Corporation
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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