Northrop Grumman Co. (NOC) Stake Lessened by Commonwealth Bank of Australia

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Commonwealth Bank of Australia lowered its position in shares of Northrop Grumman Co. (NYSE:NOC) by 3.0% during the second quarter, HoldingsChannel.com reports. The fund owned 18,954 shares of the aerospace company’s stock after selling 581 shares during the quarter. Commonwealth Bank of Australia’s holdings in Northrop Grumman were worth $5,829,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Northrop Grumman in the 2nd quarter valued at approximately $114,000. Meeder Asset Management Inc. acquired a new position in Northrop Grumman in the 2nd quarter valued at approximately $115,000. Centaurus Financial Inc. acquired a new position in Northrop Grumman in the 1st quarter valued at approximately $147,000. Kaizen Advisory LLC increased its stake in Northrop Grumman by 156.2% in the 2nd quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock valued at $133,000 after buying an additional 264 shares during the period. Finally, Optimum Investment Advisors acquired a new position in Northrop Grumman in the 1st quarter valued at approximately $154,000. Hedge funds and other institutional investors own 81.48% of the company’s stock.

NOC stock opened at $296.75 on Thursday. 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 $51.97 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 1.58 and a beta of 0.68. Northrop Grumman Co. has a 12 month low of $264.36 and a 12 month high of $360.88.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, July 25th. The aerospace company reported $3.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.84 by $0.09. The company 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 revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.16 earnings per share. equities research analysts predict that Northrop Grumman Co. will post 16.84 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 12th. Shareholders of record on Monday, August 27th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, August 24th. Northrop Grumman’s dividend payout ratio is 36.14%.

NOC has been the topic of several research reports. UBS Group initiated coverage on shares of Northrop Grumman in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 price objective on the stock. ValuEngine lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. 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 research note on Friday, May 18th. Zacks Investment Research lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $362.16.

In related news, VP Mark A. Caylor sold 4,543 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $297.45, for a total transaction of $1,351,315.35. Following the completion of the sale, the vice president now directly owns 24,592 shares of the company’s stock, valued at approximately $7,314,890.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Wesley G. Bush sold 20,000 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 18,701 shares of the company’s stock, valued at $5,571,214.91. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock valued at $9,390,331 over the last three months. Insiders own 0.62% of the company’s stock.

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.

Further Reading: Return on Investment (ROI)

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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