Old Mutual Global Investors UK Ltd. Lowers Holdings in Northrop Grumman Corporation (NOC)

Old Mutual Global Investors UK Ltd. decreased its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 95.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,282 shares of the aerospace company’s stock after selling 107,890 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in Northrop Grumman Corporation were worth $1,355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Northrop Grumman Corporation by 2,871.7% in the 1st quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock worth $3,038,501,000 after acquiring an additional 12,345,491 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Northrop Grumman Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock worth $3,035,847,000 after acquiring an additional 531,824 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Northrop Grumman Corporation by 5.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,617,954 shares of the aerospace company’s stock worth $1,098,335,000 after acquiring an additional 239,260 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Northrop Grumman Corporation by 64.6% in the 1st quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock worth $749,119,000 after acquiring an additional 1,235,985 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Northrop Grumman Corporation by 4.8% in the 1st quarter. Wellington Management Group LLP now owns 2,878,724 shares of the aerospace company’s stock worth $684,676,000 after acquiring an additional 131,008 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Northrop Grumman Corporation (NYSE NOC) opened at 267.45 on Friday. Northrop Grumman Corporation has a 12 month low of $206.69 and a 12 month high of $274.61. The company has a market cap of $46.56 billion, a price-to-earnings ratio of 20.43 and a beta of 0.66. The firm’s 50-day moving average is $268.09 and its 200-day moving average is $254.16.

Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.31. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.21 billion. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.85 EPS. On average, analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.50%. Northrop Grumman Corporation’s dividend payout ratio is currently 30.56%.

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In related news, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the completion of the transaction, the vice president now directly owns 961 shares in the company, valued at approximately $252,983.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Sid Ashworth sold 3,847 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $18,059,080. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Several analysts have recently issued reports on the stock. Argus upped their target price on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Morgan Stanley assumed coverage on shares of Northrop Grumman Corporation in a research note on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 target price for the company. BidaskClub lowered shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $309.00 target price on shares of Northrop Grumman Corporation in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $305.00 target price for the company in a research note on Tuesday, September 5th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $269.86.

About Northrop Grumman Corporation

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

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