Investment Centers of America Inc. reduced its stake in Northrop Grumman Corporation (NYSE:NOC) by 18.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 800 shares of the aerospace company’s stock after selling 183 shares during the quarter. Investment Centers of America Inc.’s holdings in Northrop Grumman Corporation were worth $206,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Personal Financial Services raised its position in Northrop Grumman Corporation by 39.0% in the 2nd quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock valued at $111,000 after buying an additional 121 shares during the last quarter. Pittenger & Anderson Inc. raised its position in Northrop Grumman Corporation by 28.6% in the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock valued at $116,000 after buying an additional 100 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in Northrop Grumman Corporation in the 1st quarter valued at $108,000. Perigon Wealth Management LLC raised its position in Northrop Grumman Corporation by 2.8% in the 1st quarter. Perigon Wealth Management LLC now owns 546 shares of the aerospace company’s stock valued at $130,000 after buying an additional 15 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in Northrop Grumman Corporation by 63.3% in the 1st quarter. Global X Management Co. LLC now owns 547 shares of the aerospace company’s stock valued at $130,000 after buying an additional 212 shares during the last quarter. 81.37% of the stock is owned by institutional investors and hedge funds.
In other news, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total value of $96,612.75. Following the completion of the transaction, the vice president now owns 961 shares in the company, valued at $252,983.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.
A number of equities research analysts recently commented on NOC shares. Zacks Investment Research lowered Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and issued a $309.00 price target on shares of Northrop Grumman Corporation in a research report on Wednesday, August 23rd. Deutsche Bank AG reissued a “buy” rating and issued a $285.00 price target (up from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Royal Bank Of Canada set a $294.00 price target on Northrop Grumman Corporation and gave the company a “buy” rating in a research report on Tuesday, August 29th. Finally, BidaskClub raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Northrop Grumman Corporation has an average rating of “Buy” and an average price target of $272.01.
Northrop Grumman Corporation (NYSE:NOC) opened at 280.04 on Thursday. The firm has a 50-day moving average price of $269.39 and a 200-day moving average price of $255.59. The company has a market cap of $48.75 billion, a P/E ratio of 21.39 and a beta of 0.66. Northrop Grumman Corporation has a 52 week low of $210.60 and a 52 week high of $281.57.
Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the business earned $2.85 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio is currently 30.56%.
Northrop Grumman Corporation 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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