Usca Ria LLC raised its position in shares of Northrop Grumman Co. (NYSE:NOC) by 26.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,761 shares of the aerospace company’s stock after buying an additional 368 shares during the period. Usca Ria LLC’s holdings in Northrop Grumman were worth $542,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in NOC. PointState Capital LP acquired a new position in shares of Northrop Grumman during the first quarter valued at about $99,988,000. The Manufacturers Life Insurance Company increased its holdings in shares of Northrop Grumman by 16.3% during the first quarter. The Manufacturers Life Insurance Company now owns 254,452 shares of the aerospace company’s stock valued at $88,834,000 after acquiring an additional 35,748 shares in the last quarter. RB Capital Management LLC increased its holdings in shares of Northrop Grumman by 18.8% during the second quarter. RB Capital Management LLC now owns 1,361 shares of the aerospace company’s stock valued at $419,000 after acquiring an additional 215 shares in the last quarter. Fluent Financial LLC increased its holdings in shares of Northrop Grumman by 16.4% during the second quarter. Fluent Financial LLC now owns 3,129 shares of the aerospace company’s stock valued at $963,000 after acquiring an additional 440 shares in the last quarter. Finally, Kaizen Advisory LLC increased its holdings in shares of Northrop Grumman by 156.2% during the second quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock valued at $133,000 after acquiring an additional 264 shares in the last quarter. 82.16% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Northrop Grumman to $431.00 and gave the company an “outperform” rating in a report on Friday, May 18th. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 price target on the stock in a report on Monday, June 11th. Credit Suisse Group increased their price target on shares of Northrop Grumman from $326.00 to $341.00 and gave the stock a “neutral” rating in a report on Wednesday, June 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $300.00 price target on shares of Northrop Grumman in a report on Thursday, July 26th. Finally, Goldman Sachs Group cut their price target on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating on the stock in a report on Thursday, July 26th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Northrop Grumman presently has a consensus rating of “Buy” and a consensus price target of $362.16.
In other news, Chairman Wesley G. Bush sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $297.91, for a total transaction of $5,958,200.00. Following the sale, the chairman now owns 18,701 shares of the company’s stock, valued at approximately $5,571,214.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kenneth L. Bedingfield sold 1,442 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $300.00, for a total transaction of $432,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,867 shares of company stock worth $7,719,495 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.
Shares of NYSE NOC opened at $294.39 on Monday. The company has a market cap of $50.73 billion, a PE ratio of 22.17, a PEG ratio of 1.54 and a beta of 0.68. Northrop Grumman Co. has a 12 month low of $264.35 and a 12 month high of $360.88. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.15 and a current ratio of 1.24.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Wednesday, July 25th. The aerospace company reported $3.93 EPS for the quarter, topping analysts’ consensus estimates of $3.84 by $0.09. The business had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $3.16 EPS. analysts forecast that Northrop Grumman Co. will post 16.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Stockholders of record on Monday, August 27th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, August 24th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.63%. Northrop Grumman’s payout ratio is 36.14%.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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