Eagle Asset Management Inc. boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 0.8% in the second quarter, Holdings Channel reports. The fund owned 27,706 shares of the aerospace company’s stock after buying an additional 214 shares during the quarter. Eagle Asset Management Inc.’s holdings in Northrop Grumman were worth $8,525,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. PointState Capital LP acquired a new position in Northrop Grumman during the first quarter worth about $99,988,000. Fluent Financial LLC raised its position in Northrop Grumman by 16.4% during the second quarter. Fluent Financial LLC now owns 3,129 shares of the aerospace company’s stock worth $963,000 after acquiring an additional 440 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in 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 worth $88,834,000 after acquiring an additional 35,748 shares during the last quarter. RB Capital Management LLC raised its position in Northrop Grumman by 18.8% during the second quarter. RB Capital Management LLC now owns 1,361 shares of the aerospace company’s stock worth $419,000 after acquiring an additional 215 shares during the last quarter. Finally, Kaizen Advisory LLC raised its position in Northrop Grumman by 156.2% during the second quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock worth $133,000 after acquiring an additional 264 shares during the last quarter. Institutional investors own 81.67% of the company’s stock.
In related news, VP David T. Perry sold 4,425 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $300.27, for a total transaction of $1,328,694.75. Following the completion of the transaction, the vice president now owns 28,112 shares of the company’s stock, valued at $8,441,190.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Wesley G. Bush sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $297.91, for a total transaction of $5,958,200.00. Following the transaction, the chairman now directly owns 18,701 shares of the company’s stock, valued at approximately $5,571,214.91. The disclosure for this sale can be found here. In the last three months, insiders sold 25,867 shares of company stock valued at $7,719,495. Company insiders own 0.62% of the company’s stock.
NYSE:NOC opened at $298.18 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $51.26 billion, a PE ratio of 22.49, a PEG ratio of 1.56 and a beta of 0.68. Northrop Grumman Co. has a 1-year low of $264.36 and a 1-year high of $360.88.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share for the quarter, beating analysts’ consensus estimates of $3.84 by $0.09. The business had revenue of $7.12 billion during the quarter, compared to analyst estimates of $7.10 billion. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.16 earnings per share. research analysts anticipate that Northrop Grumman Co. will post 16.84 earnings per share 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 given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, August 24th. Northrop Grumman’s dividend payout ratio is presently 36.14%.
A number of equities analysts have issued reports on NOC shares. UBS Group started coverage on shares of Northrop Grumman in a research report on Wednesday, August 15th. They set a “neutral” rating and a $315.00 target price for the company. ValuEngine cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Tuesday, June 12th. Credit Suisse Group lifted their target price on shares of Northrop Grumman from $331.00 to $342.00 and gave the stock a “neutral” rating in a research report on Thursday, April 26th. Royal Bank of Canada lifted their target price on shares of Northrop Grumman to $431.00 and gave the stock an “outperform” rating in a research report on Friday, May 18th. Finally, Zacks Investment Research cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $362.16.
Northrop Grumman 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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