Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 17.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,056 shares of the aerospace company’s stock after buying an additional 5,681 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Northrop Grumman Corporation were worth $10,026,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Valicenti Advisory Services Inc. purchased a new position in Northrop Grumman Corporation during the first quarter worth $2,327,000. Russell Investments Group Ltd. raised its position in Northrop Grumman Corporation by 9.6% in the first quarter. Russell Investments Group Ltd. now owns 277,521 shares of the aerospace company’s stock worth $66,002,000 after buying an additional 24,404 shares during the period. State of New Jersey Common Pension Fund D raised its position in Northrop Grumman Corporation by 62.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 65,000 shares of the aerospace company’s stock worth $15,460,000 after buying an additional 25,000 shares during the period. Shell Asset Management Co. raised its position in Northrop Grumman Corporation by 6.0% in the first quarter. Shell Asset Management Co. now owns 35,361 shares of the aerospace company’s stock worth $8,410,000 after buying an additional 2,010 shares during the period. Finally, Dubuque Bank & Trust Co. raised its position in Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock worth $119,000 after buying an additional 9 shares during the period. Hedge funds and other institutional investors own 81.80% of the company’s stock.
Shares of Northrop Grumman Corporation (NYSE:NOC) traded up 0.29% on Friday, reaching $269.33. 616,140 shares of the company traded hands. The firm has a 50-day moving average of $266.76 and a 200-day moving average of $252.21. The company has a market capitalization of $46.89 billion, a PE ratio of 20.57 and a beta of 0.66. Northrop Grumman Corporation has a 52-week low of $206.69 and a 52-week high of $274.61.
Northrop Grumman Corporation (NYSE:NOC) last posted its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping 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 return on equity of 39.22% and a net margin of 9.20%. The company’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 earnings per share. On average, equities research analysts forecast that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $4.00 annualized dividend and a yield of 1.49%. Northrop Grumman Corporation’s dividend payout ratio is presently 30.56%.
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A number of research firms recently weighed in on NOC. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $309.00 price objective on shares of Northrop Grumman Corporation in a research report on Wednesday. Cowen and Company reissued a “hold” rating and issued a $275.00 target price on shares of Northrop Grumman Corporation in a report on Thursday. Morgan Stanley assumed coverage on Northrop Grumman Corporation in a report on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 target price for the company. BidaskClub raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Finally, Argus raised their target price on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 4th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $265.51.
In other Northrop Grumman Corporation news, VP Sid Ashworth sold 3,847 shares of Northrop Grumman Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the transaction, the vice president now directly owns 69,458 shares in the company, valued at $18,059,080. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total value of $96,612.75. Following the transaction, the vice president now owns 961 shares in the company, valued at $252,983.25. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
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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