Northrop Grumman Co. (NOC) Stake Boosted by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd grew its position in shares of Northrop Grumman Co. (NYSE:NOC) by 441.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,500 shares of the aerospace company’s stock after acquiring an additional 5,300 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Northrop Grumman were worth $2,000,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of NOC. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Northrop Grumman during the second quarter valued at about $114,000. Meeder Asset Management Inc. bought a new position in Northrop Grumman in the second quarter worth about $115,000. Fort L.P. bought a new position in Northrop Grumman in the second quarter worth about $117,000. Kaizen Advisory LLC raised its stake in Northrop Grumman by 156.2% in the second quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock worth $133,000 after buying an additional 264 shares in the last quarter. Finally, Sun Life Financial INC raised its stake in Northrop Grumman by 71.0% in the second quarter. Sun Life Financial INC now owns 472 shares of the aerospace company’s stock worth $145,000 after buying an additional 196 shares in the last quarter. 81.55% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 price target for the company in a research note on Monday, June 11th. ValuEngine downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Credit Suisse Group decreased their price target on shares of Northrop Grumman from $342.00 to $326.00 and set a “neutral” rating for the company in a research note on Tuesday, May 22nd. Royal Bank of Canada increased their price target on shares of Northrop Grumman to $431.00 and gave the stock an “outperform” rating in a research note on Friday, May 18th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Northrop Grumman currently has a consensus rating of “Buy” and an average target price of $362.16.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.84 by $0.09. The business had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.16 earnings per share. equities analysts predict that Northrop Grumman Co. will post 16.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Shareholders of record on Monday, August 27th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Friday, August 24th. Northrop Grumman’s dividend payout ratio (DPR) is presently 36.14%.
In other Northrop Grumman news, VP Lesley A. Kalan sold 1,065 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $300.02, for a total value of $319,521.30. Following the sale, the vice president now owns 13,656 shares in the company, valued at $4,097,073.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David T. Perry sold 4,425 shares of the company’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $300.27, for a total transaction of $1,328,694.75. Following the completion of the sale, the vice president now owns 28,112 shares in the company, valued at approximately $8,441,190.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,475 shares of company stock worth $9,390,331. Corporate insiders own 0.62% of the company’s stock.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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