Thrivent Financial For Lutherans boosted its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 4.5% during the first quarter, Holdings Channel reports. The institutional investor owned 6,678 shares of the aerospace company’s stock after buying an additional 290 shares during the period. Thrivent Financial For Lutherans’ holdings in Northrop Grumman Corporation were worth $1,588,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its stake in Northrop Grumman Corporation by 5.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,617,954 shares of the aerospace company’s stock worth $1,098,335,000 after buying an additional 239,260 shares in the last quarter. Alliancebernstein L.P. raised its stake in Northrop Grumman Corporation by 64.6% in the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock worth $749,119,000 after buying an additional 1,235,985 shares in the last quarter. Wellington Management Group LLP raised its stake in Northrop Grumman Corporation by 4.8% in the first quarter. Wellington Management Group LLP now owns 2,878,724 shares of the aerospace company’s stock worth $684,676,000 after buying an additional 131,008 shares in the last quarter. Legal & General Group Plc raised its stake in Northrop Grumman Corporation by 5.6% in the first quarter. Legal & General Group Plc now owns 870,286 shares of the aerospace company’s stock worth $206,994,000 after buying an additional 46,354 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Northrop Grumman Corporation during the fourth quarter worth approximately $195,206,000. Institutional investors own 82.31% of the company’s stock.
Northrop Grumman Corporation (NOC) opened at 261.99 on Monday. The firm’s 50-day moving average is $254.82 and its 200-day moving average is $242.68. Northrop Grumman Corporation has a 12 month low of $206.69 and a 12 month high of $263.74. The stock has a market capitalization of $45.74 billion, a P/E ratio of 20.50 and a beta of 0.67.
Northrop Grumman Corporation (NYSE:NOC) last released its earnings results 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. Northrop Grumman Corporation had a return on equity of 38.20% and a net margin of 9.20%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same period last year, the company earned $3.03 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Northrop Grumman Corporation will post $12.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Monday, June 5th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.53%. This is an increase from Northrop Grumman Corporation’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, June 1st. Northrop Grumman Corporation’s dividend payout ratio (DPR) is 31.27%.
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NOC has been the subject of a number of recent analyst reports. Jefferies Group LLC reiterated a “hold” rating and set a $243.00 price target on shares of Northrop Grumman Corporation in a report on Wednesday, June 21st. Zacks Investment Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a report on Thursday, April 13th. Finally, Vertical Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $254.00 to $270.00 in a report on Wednesday, May 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $251.51.
In other news, VP Sid Ashworth sold 3,847 shares of Northrop Grumman Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the completion of the sale, the vice president now directly owns 69,458 shares in the company, valued at $18,059,080. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas E. Vice sold 29,740 shares of Northrop Grumman Corporation stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $250.00, for a total value of $7,435,000.00. Following the sale, the vice president now owns 72,453 shares of the company’s stock, valued at $18,113,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,654 shares of company stock valued at $16,773,256. Corporate insiders own 0.70% of the company’s stock.
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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