Keybank National Association OH reduced its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,044 shares of the aerospace company’s stock after selling 733 shares during the period. Keybank National Association OH’s holdings in Northrop Grumman were worth $16,937,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOC. Independent Advisor Alliance grew its position in Northrop Grumman by 19.4% in the second quarter. Independent Advisor Alliance now owns 1,692 shares of the aerospace company’s stock worth $451,000 after acquiring an additional 275 shares in the last quarter. Pinnacle Associates Ltd. grew its position in Northrop Grumman by 194.6% in the second quarter. Pinnacle Associates Ltd. now owns 6,826 shares of the aerospace company’s stock worth $2,100,000 after acquiring an additional 4,509 shares in the last quarter. Segall Bryant & Hamill LLC lifted its stake in Northrop Grumman by 80.5% in the second quarter. Segall Bryant & Hamill LLC now owns 1,919 shares of the aerospace company’s stock worth $590,000 after purchasing an additional 856 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Northrop Grumman by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 692,866 shares of the aerospace company’s stock worth $213,195,000 after purchasing an additional 19,078 shares during the last quarter. Finally, Usca Ria LLC lifted its stake in Northrop Grumman by 26.4% in the second quarter. Usca Ria LLC now owns 1,761 shares of the aerospace company’s stock worth $542,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 81.67% of the company’s stock.
In other news, CFO Kenneth L. Bedingfield sold 1,442 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $300.00, for a total transaction of $432,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David T. Perry sold 4,425 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 28,112 shares of the company’s stock, valued at $8,441,190.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,867 shares of company stock valued at $7,719,495. Insiders own 0.62% of the company’s stock.
Several research firms have weighed in on NOC. Zacks Investment Research downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. UBS Group began coverage on shares of Northrop Grumman in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 price target for the company. ValuEngine downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Credit Suisse Group boosted their price target on shares of Northrop Grumman from $326.00 to $341.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Eight 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. The stock presently has a consensus rating of “Buy” and an average price target of $362.16.
Shares of NYSE:NOC opened at $298.18 on Wednesday. The stock has a market cap of $51.26 billion, a PE ratio of 22.45, a PEG ratio of 1.56 and a beta of 0.68. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 1.75. Northrop Grumman Co. has a 12 month low of $264.36 and a 12 month high of $360.88.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Wednesday, July 25th. The aerospace company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.84 by $0.09. The firm had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 earnings per share. equities analysts anticipate that Northrop Grumman Co. will post 16.84 earnings per share for the current 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. This represents a $4.80 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, August 24th. Northrop Grumman’s dividend payout ratio (DPR) is 36.14%.
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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