Northrop Grumman Corporation (NOC) Shares Sold by Fmr LLC
Fmr LLC trimmed its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,295,738 shares of the aerospace company’s stock after selling 88,323 shares during the quarter. Fmr LLC owned approximately 4.19% of Northrop Grumman Corporation worth $1,872,890,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbour Capital Advisors LLC bought a new position in Northrop Grumman Corporation during the 1st quarter valued at $108,000. First Personal Financial Services boosted its stake in Northrop Grumman Corporation by 39.0% during the 2nd quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock valued at $111,000 after acquiring an additional 121 shares during the last quarter. Pittenger & Anderson Inc. boosted its stake in Northrop Grumman Corporation by 28.6% during the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock valued at $116,000 after acquiring an additional 100 shares during the last quarter. Global X Management Co. LLC boosted its stake in Northrop Grumman Corporation by 63.3% during the 1st quarter. Global X Management Co. LLC now owns 547 shares of the aerospace company’s stock valued at $130,000 after acquiring an additional 212 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in Northrop Grumman Corporation by 2.8% during the 1st quarter. Perigon Wealth Management LLC now owns 546 shares of the aerospace company’s stock valued at $130,000 after acquiring an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.
A number of research firms have commented on NOC. Argus increased their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $309.00 price objective on the stock in a research note on Wednesday. Vertical Research reiterated a “buy” rating and set a $296.00 price objective (up from $280.00) on shares of Northrop Grumman Corporation in a research note on Wednesday. Stifel Nicolaus reiterated a “hold” rating and set a $255.00 price objective on shares of Northrop Grumman Corporation in a research note on Thursday. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $243.00 price objective on shares of Northrop Grumman Corporation in a research note on Wednesday, June 21st. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $272.01.
In other news, VP Lisa R. Davis sold 367 shares of the business’s 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 sale, the vice president now owns 961 shares in the company, valued at approximately $252,983.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.
Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 net margin of 9.20% and a return on equity of 39.22%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.85 EPS.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $4.00 annualized dividend and a dividend yield of 1.43%. Northrop Grumman Corporation’s dividend payout ratio is presently 30.56%.
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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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