Global X Management Co. LLC raised its stake in Northrop Grumman Corporation (NYSE:NOC) by 63.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 547 shares of the aerospace company’s stock after buying an additional 212 shares during the period. Global X Management Co. LLC’s holdings in Northrop Grumman Corporation were worth $130,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Horan Capital Management acquired a new position in Northrop Grumman Corporation during the first quarter valued at approximately $115,000. Dubuque Bank & Trust Co. increased its position in Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock valued at $119,000 after buying an additional 9 shares during the last quarter. Perigon Wealth Management LLC increased its position in Northrop Grumman Corporation by 6.8% in the fourth quarter. Perigon Wealth Management LLC now owns 531 shares of the aerospace company’s stock valued at $129,000 after buying an additional 34 shares during the last quarter. Quadrant Capital Group LLC increased its position in Northrop Grumman Corporation by 12.4% in the first quarter. Quadrant Capital Group LLC now owns 590 shares of the aerospace company’s stock valued at $132,000 after buying an additional 65 shares during the last quarter. Finally, Portfolio Solutions LLC acquired a new position in Northrop Grumman Corporation during the first quarter valued at approximately $141,000. 82.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 261.99 on Monday. The firm has a market capitalization of $45.74 billion, a P/E ratio of 20.50 and a beta of 0.67. Northrop Grumman Corporation has a 12 month low of $206.69 and a 12 month high of $263.74. The stock has a 50 day moving average price of $254.82 and a 200 day moving average price of $242.68.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings data on Wednesday, April 26th. The aerospace company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.73. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.15 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 38.20%. Northrop Grumman Corporation’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.03 EPS. On average, analysts expect that Northrop Grumman Corporation will post $12.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Monday, June 5th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, June 1st. This is a positive change from Northrop Grumman Corporation’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 1.53%. Northrop Grumman Corporation’s payout ratio is currently 31.27%.
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Several research firms have commented on NOC. Jefferies Group LLC reissued a “hold” rating and set a $243.00 target price on shares of Northrop Grumman Corporation in a research report on Wednesday, June 21st. Vertical Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $254.00 to $270.00 in a research report on Wednesday, May 10th. Finally, Zacks Investment Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Thursday, April 13th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $251.51.
In related news, VP Sid Ashworth sold 3,847 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total value of $1,000,220.00. Following the transaction, the vice president now owns 69,458 shares in the company, valued at approximately $18,059,080. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Thomas E. Vice sold 29,740 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $250.00, for a total transaction of $7,435,000.00. Following the completion of the transaction, the vice president now owns 72,453 shares in the company, valued at approximately $18,113,250. The disclosure for this sale can be found here. Insiders have sold a total of 67,654 shares of company stock worth $16,773,256 over the last 90 days. 0.70% of the stock is owned by company insiders.
Northrop Grumman Corporation Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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