Ninety One UK Ltd Purchases 16,573 Shares of Northrop Grumman Co. (NYSE:NOC)

Ninety One UK Ltd grew its position in shares of Northrop Grumman Co. (NYSE:NOC) by 22.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,944 shares of the aerospace company’s stock after buying an additional 16,573 shares during the period. Ninety One UK Ltd owned approximately 0.05% of Northrop Grumman worth $27,652,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Capital International Investors increased its position in Northrop Grumman by 1.3% during the 1st quarter. Capital International Investors now owns 16,408,969 shares of the aerospace company’s stock worth $4,964,548,000 after buying an additional 205,399 shares during the period. BlackRock Inc. grew its holdings in shares of Northrop Grumman by 4.7% during the 2nd quarter. BlackRock Inc. now owns 9,886,106 shares of the aerospace company’s stock worth $3,039,384,000 after purchasing an additional 447,549 shares in the last quarter. Capital World Investors grew its holdings in shares of Northrop Grumman by 1.4% during the 1st quarter. Capital World Investors now owns 6,971,362 shares of the aerospace company’s stock worth $2,109,196,000 after purchasing an additional 97,597 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Northrop Grumman by 12.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,818,653 shares of the aerospace company’s stock worth $1,760,434,000 after purchasing an additional 629,137 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Northrop Grumman by 87.6% during the 1st quarter. Wellington Management Group LLP now owns 5,709,638 shares of the aerospace company’s stock worth $1,727,450,000 after purchasing an additional 2,666,917 shares in the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

In other Northrop Grumman news, VP David T. Perry sold 5,091 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $326.83, for a total value of $1,663,891.53. Following the completion of the transaction, the vice president now directly owns 9,508 shares in the company, valued at $3,107,499.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

Northrop Grumman stock traded up $5.45 during trading hours on Wednesday, hitting $343.47. The stock had a trading volume of 750,005 shares, compared to its average volume of 1,012,463. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 1.47. The stock has a market cap of $56.35 billion, a price-to-earnings ratio of 24.23 and a beta of 0.77. Northrop Grumman Co. has a one year low of $263.31 and a one year high of $385.01. The business’s 50 day simple moving average is $335.61 and its 200-day simple moving average is $324.34.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, July 30th. The aerospace company reported $6.01 EPS for the quarter, beating the consensus estimate of $5.32 by $0.69. The firm had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $8.66 billion. Northrop Grumman had a return on equity of 40.24% and a net margin of 6.91%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $5.06 earnings per share. Research analysts anticipate that Northrop Grumman Co. will post 22.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st will be given a $1.45 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $5.80 annualized dividend and a yield of 1.69%. Northrop Grumman’s dividend payout ratio is presently 27.35%.

Several analysts have recently issued reports on NOC shares. TheStreet raised Northrop Grumman from a “c” rating to a “b-” rating in a report on Monday, August 10th. ValuEngine raised Northrop Grumman from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Sanford C. Bernstein increased their target price on Northrop Grumman from $405.00 to $419.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Morgan Stanley started coverage on Northrop Grumman in a research note on Tuesday, September 8th. They issued an “overweight” rating and a $470.00 price objective on the stock. Finally, Seaport Global Securities started coverage on Northrop Grumman in a research note on Tuesday, May 19th. They issued a “buy” rating and a $398.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $390.80.

Northrop Grumman Profile

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

Further Reading: Quantitative Easing

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

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