Parametric Portfolio Associates LLC cut its position in shares of Northrop Grumman Co. (NYSE:NOC) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 609,726 shares of the aerospace company’s stock after selling 992 shares during the period. Parametric Portfolio Associates LLC owned 0.36% of Northrop Grumman worth $197,009,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Krane Funds Advisors LLC acquired a new stake in Northrop Grumman in the second quarter valued at approximately $26,000. Trustcore Financial Services LLC bought a new position in shares of Northrop Grumman during the 1st quarter valued at $27,000. Glassman Wealth Services raised its holdings in shares of Northrop Grumman by 203.0% during the 1st quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in shares of Northrop Grumman in the 2nd quarter valued at $27,000. Finally, Meridian Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 83.11% of the company’s stock.
Several research firms have commented on NOC. Sanford C. Bernstein increased their target price on shares of Northrop Grumman from $344.00 to $368.00 in a research report on Thursday, July 25th. ValuEngine lowered Northrop Grumman from a “hold” rating to a “sell” rating in a report on Tuesday. Credit Suisse Group increased their price target on Northrop Grumman from $364.00 to $385.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Morgan Stanley raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $335.00 to $418.00 in a research report on Tuesday, August 6th. Finally, Barclays boosted their price objective on shares of Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $347.60.
In other news, VP Christopher T. Jones sold 5,000 shares of Northrop Grumman stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.19, for a total transaction of $1,765,950.00. Following the sale, the vice president now owns 67,422 shares of the company’s stock, valued at approximately $23,812,776.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kathy J. Warden sold 6,837 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $353.46, for a total value of $2,416,606.02. Following the sale, the chief executive officer now owns 99,002 shares in the company, valued at $34,993,246.92. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.
NYSE NOC traded up $2.72 during trading on Wednesday, hitting $357.81. The company’s stock had a trading volume of 57,468 shares, compared to its average volume of 644,584. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62. The firm has a 50 day moving average price of $360.75 and a 200 day moving average price of $312.91. The firm has a market cap of $60.21 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 1.46 and a beta of 0.79. Northrop Grumman Co. has a 52 week low of $223.63 and a 52 week high of $377.34.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, beating the consensus estimate of $4.64 by $0.42. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.41 billion. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. Northrop Grumman’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.50 earnings per share. On average, equities analysts expect that Northrop Grumman Co. will post 19.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.28 annualized dividend and a dividend yield of 1.48%. Northrop Grumman’s payout ratio is 24.75%.
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.
See Also: Gross Domestic Product (GDP)
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