Woodley Farra Manion Portfolio Management Inc. increased its position in Northrop Grumman Corporation (NYSE:NOC) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,178 shares of the aerospace company’s stock after purchasing an additional 874 shares during the quarter. Woodley Farra Manion Portfolio Management Inc.’s holdings in Northrop Grumman Corporation were worth $4,923,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. FIL Ltd bought a new position in shares of Northrop Grumman Corporation during the second quarter valued at $22,533,000. MML Investors Services LLC lifted its holdings in shares of Northrop Grumman Corporation by 5.2% during the second quarter. MML Investors Services LLC now owns 4,368 shares of the aerospace company’s stock valued at $1,121,000 after acquiring an additional 216 shares during the period. TIAA FSB bought a new position in shares of Northrop Grumman Corporation during the second quarter valued at $8,683,000. Vanguard Group Inc. lifted its holdings in shares of Northrop Grumman Corporation by 1.5% during the second quarter. Vanguard Group Inc. now owns 12,956,906 shares of the aerospace company’s stock valued at $3,326,168,000 after acquiring an additional 192,667 shares during the period. Finally, Public Sector Pension investment Board lifted its holdings in shares of Northrop Grumman Corporation by 9.5% during the second quarter. Public Sector Pension investment Board now owns 82,954 shares of the aerospace company’s stock valued at $21,295,000 after acquiring an additional 7,200 shares during the period. 81.37% of the stock is owned by hedge funds and other institutional investors.
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 stock was sold at an average price of $263.25, for a total value of $96,612.75. Following the completion of the sale, the vice president now owns 961 shares of the company’s stock, valued at $252,983.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.
A number of brokerages have issued reports on NOC. Stifel Nicolaus reissued a “hold” rating and set a $255.00 price objective on shares of Northrop Grumman Corporation in a report on Thursday. Vertical Research restated a “buy” rating and issued a $296.00 target price (up from $280.00) on shares of Northrop Grumman Corporation in a research note on Wednesday. Zacks Investment Research upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $309.00 target price for the company in a research note on Wednesday. Royal Bank Of Canada set a $294.00 target price on Northrop Grumman Corporation and gave the company a “buy” rating in a research note on Tuesday, August 29th. Finally, Cowen and Company restated a “hold” rating and issued a $275.00 target price on shares of Northrop Grumman Corporation in a research note on Thursday, August 24th. Six 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 company. The stock presently has a consensus rating of “Buy” and a consensus price target of $272.01.
Northrop Grumman Corporation (NYSE:NOC) traded down 0.1455% during trading on Thursday, hitting $279.6325. The stock had a trading volume of 169,955 shares. The stock has a 50 day moving average of $269.39 and a 200 day moving average of $255.59. The firm has a market capitalization of $48.68 billion, a P/E ratio of 21.3607 and a beta of 0.66. Northrop Grumman Corporation has a one year low of $210.60 and a one year high of $280.21.
Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping the consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter last year, the firm posted $2.85 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Equities research analysts expect that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders 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 dividend on an annualized basis and a yield of 1.43%. Northrop Grumman Corporation’s dividend payout ratio (DPR) is presently 30.56%.
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Northrop Grumman Corporation 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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