FIL Ltd bought a new stake in Northrop Grumman Corporation (NYSE:NOC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 87,777 shares of the aerospace company’s stock, valued at approximately $22,533,000. FIL Ltd owned 0.05% of Northrop Grumman Corporation as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in NOC. Harbour Capital Advisors LLC acquired a new stake in shares of Northrop Grumman Corporation in the first quarter valued at about $108,000. First Personal Financial Services grew its position in shares of Northrop Grumman Corporation by 39.0% in the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock valued at $111,000 after purchasing an additional 121 shares during the period. Pittenger & Anderson Inc. grew its position in shares of Northrop Grumman Corporation by 28.6% in the second quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock valued at $116,000 after purchasing an additional 100 shares during the period. Global X Management Co. LLC grew its position in shares of Northrop Grumman Corporation by 63.3% in the first quarter. Global X Management Co. LLC now owns 547 shares of the aerospace company’s stock valued at $130,000 after purchasing an additional 212 shares during the period. Finally, Perigon Wealth Management LLC grew its position in shares of Northrop Grumman Corporation by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 546 shares of the aerospace company’s stock valued at $130,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 81.37% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and issued a $309.00 price target on shares of Northrop Grumman Corporation in a research note on Wednesday, August 23rd. Deutsche Bank AG reissued a “buy” rating and issued a $285.00 price target (up from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Royal Bank Of Canada set a $294.00 price target on shares of Northrop Grumman Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Finally, BidaskClub raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Northrop Grumman Corporation currently has a consensus rating of “Buy” and a consensus target price of $272.01.
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Northrop Grumman Corporation (NYSE NOC) opened at 281.55 on Friday. The stock has a market capitalization of $49.02 billion, a P/E ratio of 21.51 and a beta of 0.66. Northrop Grumman Corporation has a 52 week low of $210.60 and a 52 week high of $282.93. The firm’s 50-day moving average is $269.39 and its 200-day moving average is $255.59.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $6.21 billion. During the same period last year, the company earned $2.85 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts predict that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, August 24th. This represents a $4.00 annualized dividend and a dividend yield of 1.42%. Northrop Grumman Corporation’s dividend payout ratio is currently 30.56%.
In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the firm’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 sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.
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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