Capital Planning Advisors LLC increased its stake in Northrop Grumman Corporation (NYSE:NOC) by 120.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,749 shares of the aerospace company’s stock after buying an additional 6,409 shares during the period. Northrop Grumman Corporation accounts for 1.3% of Capital Planning Advisors LLC’s holdings, making the stock its 21st largest position. Capital Planning Advisors LLC’s holdings in Northrop Grumman Corporation were worth $3,016,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. Breton Hill Capital Ltd. increased its position in shares of Northrop Grumman Corporation by 100.8% in the first quarter. Breton Hill Capital Ltd. now owns 2,271 shares of the aerospace company’s stock worth $540,000 after buying an additional 1,140 shares in the last quarter. Valicenti Advisory Services Inc. acquired a new position in shares of Northrop Grumman Corporation during the first quarter worth about $2,327,000. Russell Investments Group Ltd. increased its position in shares of 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 in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of 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 in the last quarter. Finally, Shell Asset Management Co. increased its position in shares of 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 in the last quarter. 81.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Northrop Grumman Corporation (NYSE:NOC) traded up 0.29% during mid-day trading on Friday, reaching $269.33. The company’s stock had a trading volume of 616,140 shares. The firm has a 50-day moving average of $266.76 and a 200-day moving average of $252.21. Northrop Grumman Corporation has a 52 week low of $206.69 and a 52 week high of $274.61. The firm has a market capitalization of $46.89 billion, a PE ratio of 20.57 and a beta of 0.66.
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 net margin of 9.20% and a return on equity of 39.22%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the firm posted $2.85 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. 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. Investors of record on Monday, August 28th will be paid a $1.00 dividend. The ex-dividend date is Thursday, August 24th. This represents a $4.00 dividend on an annualized basis and a yield of 1.49%. Northrop Grumman Corporation’s payout ratio is currently 30.56%.
Several equities analysts have recently weighed in on the company. Cowen and Company restated a “hold” rating and issued a $275.00 target price on shares of Northrop Grumman Corporation in a research report on Thursday. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and set a $309.00 price objective on shares of Northrop Grumman Corporation in a research report on Wednesday. BidaskClub upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Morgan Stanley initiated coverage on Northrop Grumman Corporation in a research report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective on the stock. Finally, Argus lifted their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Northrop Grumman Corporation presently has a consensus 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 the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total value 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 document filed with the SEC, which is available through this link. Also, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction dated 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 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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