Northrop Grumman Corporation (NOC) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. lifted its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,956,906 shares of the aerospace company’s stock after purchasing an additional 192,667 shares during the period. Vanguard Group Inc. owned about 7.44% of Northrop Grumman Corporation worth $3,326,168,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of NOC. Waldron LP lifted its position in shares of Northrop Grumman Corporation by 17.1% during the first quarter. Waldron LP now owns 2,005 shares of the aerospace company’s stock worth $476,000 after purchasing an additional 293 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Northrop Grumman Corporation by 22.9% during the first quarter. American Century Companies Inc. now owns 12,099 shares of the aerospace company’s stock worth $2,878,000 after purchasing an additional 2,258 shares during the last quarter. HPM Partners LLC bought a new position in shares of Northrop Grumman Corporation during the first quarter worth about $295,000. Davis R M Inc. lifted its position in shares of Northrop Grumman Corporation by 287.5% during the first quarter. Davis R M Inc. now owns 19,139 shares of the aerospace company’s stock worth $4,552,000 after purchasing an additional 14,200 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. lifted its position in shares of Northrop Grumman Corporation by 17.8% during the first quarter. Pinnacle Financial Partners Inc. now owns 1,337 shares of the aerospace company’s stock worth $318,000 after purchasing an additional 202 shares during the last quarter. 81.37% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on NOC. Zacks Investment Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $309.00 target price on the stock in a report on Wednesday. Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a report on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 target price on the stock. Vertical Research reissued a “buy” rating and issued a $296.00 target price (up previously from $280.00) on shares of Northrop Grumman Corporation in a report on Wednesday. BidaskClub raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Finally, Argus raised their target price on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Northrop Grumman Corporation presently has a consensus rating of “Buy” and an average target price of $272.01.
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 shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the completion of the sale, the vice president now directly owns 961 shares of the company’s stock, valued at $252,983.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.
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Northrop Grumman Corporation (NYSE:NOC) traded up 1.02% during midday trading on Wednesday, hitting $281.17. The stock had a trading volume of 365,628 shares. The company has a market cap of $48.95 billion, a PE ratio of 21.48 and a beta of 0.66. Northrop Grumman Corporation has a 52 week low of $210.60 and a 52 week high of $281.50. The stock’s 50 day moving average price is $269.39 and its 200-day moving average price is $255.59.
Northrop Grumman Corporation (NYSE:NOC) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the prior year, the business earned $2.85 earnings per share. Northrop Grumman Corporation’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts predict that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 28th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio (DPR) is 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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