Northrop Grumman Corporation (NOC) Stake Lifted by Kingfisher Capital LLC
Kingfisher Capital LLC lifted its position in Northrop Grumman Corporation (NYSE:NOC) by 1.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,435 shares of the aerospace company’s stock after purchasing an additional 51 shares during the period. Kingfisher Capital LLC’s holdings in Northrop Grumman Corporation were worth $882,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Hanseatic Management Services Inc. grew its holdings in shares of Northrop Grumman Corporation by 12.8% in the second quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 48 shares during the last quarter. First Personal Financial Services grew its holdings in shares of Northrop Grumman Corporation by 39.0% in the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after purchasing an additional 121 shares during the last quarter. Pittenger & Anderson Inc. grew its holdings in shares of Northrop Grumman Corporation by 28.6% in the second quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 100 shares during the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Northrop Grumman Corporation in the first quarter worth approximately $108,000. Finally, People s United Financial Inc. grew its holdings in shares of Northrop Grumman Corporation by 9.2% in the second quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.
A number of brokerages recently commented on NOC. Morgan Stanley began coverage on Northrop Grumman Corporation in a research note on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price target for the company. BidaskClub raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $269.00 price target on shares of Northrop Grumman Corporation in a research note on Friday, September 29th. Argus raised their price target on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Vertical Research reaffirmed a “buy” rating and issued a $296.00 price target (up previously from $280.00) on shares of Northrop Grumman Corporation in a research note on Wednesday, September 20th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Northrop Grumman Corporation has an average rating of “Buy” and a consensus price target of $276.72.
In other news, VP Lisa R. Davis sold 367 shares of the stock in a transaction 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 transaction, the vice president now owns 961 shares of the company’s stock, valued at approximately $252,983.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.
Shares of Northrop Grumman Corporation (NYSE NOC) traded up 0.84% during trading on Thursday, reaching $297.67. The company’s stock had a trading volume of 229,540 shares. The stock has a market cap of $51.82 billion, a price-to-earnings ratio of 22.74 and a beta of 0.68. The company has a 50-day moving average price of $277.91 and a 200-day moving average price of $260.76. Northrop Grumman Corporation has a one year low of $214.59 and a one year high of $297.88.
Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the company earned $2.85 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, August 24th. Northrop Grumman Corporation’s payout ratio is 30.56%.
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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