Verition Fund Management LLC boosted its position in Northrop Grumman Co. (NYSE:NOC) by 677.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,351 shares of the aerospace company’s stock after buying an additional 15,119 shares during the quarter. Verition Fund Management LLC’s holdings in Northrop Grumman were worth $5,339,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NOC. Thrivent Financial for Lutherans grew its stake in Northrop Grumman by 172.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 26,350 shares of the aerospace company’s stock valued at $9,199,000 after buying an additional 16,682 shares during the last quarter. MV Capital Management Inc. grew its stake in Northrop Grumman by 33.3% in the 1st quarter. MV Capital Management Inc. now owns 800 shares of the aerospace company’s stock valued at $279,000 after buying an additional 200 shares during the last quarter. Canandaigua National Bank & Trust Co. acquired a new position in Northrop Grumman in the 1st quarter valued at $880,000. Federated Investors Inc. PA grew its stake in Northrop Grumman by 7.0% in the 1st quarter. Federated Investors Inc. PA now owns 2,889 shares of the aerospace company’s stock valued at $1,009,000 after buying an additional 189 shares during the last quarter. Finally, Oakworth Capital Inc. grew its stake in Northrop Grumman by 51.3% in the 1st quarter. Oakworth Capital Inc. now owns 956 shares of the aerospace company’s stock valued at $308,000 after buying an additional 324 shares during the last quarter. Institutional investors and hedge funds own 81.48% of the company’s stock.

NYSE NOC opened at $307.34 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $52.85 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 1.61 and a beta of 0.67. Northrop Grumman Co. has a 52-week low of $264.81 and a 52-week high of $360.88.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $0.09. The company had revenue of $7.12 billion for the quarter, compared to analyst estimates of $7.10 billion. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $3.16 EPS. research analysts forecast that Northrop Grumman Co. will post 16.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Monday, August 27th were given a $1.20 dividend. The ex-dividend date was Friday, August 24th. This represents a $4.80 annualized dividend and a yield of 1.56%. Northrop Grumman’s dividend payout ratio is 36.14%.

In other news, Chairman Wesley G. Bush sold 20,000 shares of Northrop Grumman stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $297.91, for a total transaction of $5,958,200.00. Following the sale, the chairman now directly owns 18,701 shares in the company, valued at approximately $5,571,214.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David T. Perry sold 4,425 shares of Northrop Grumman stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $300.27, for a total transaction of $1,328,694.75. Following the sale, the vice president now owns 28,112 shares in the company, valued at $8,441,190.24. The disclosure for this sale can be found here. Insiders sold a total of 31,475 shares of company stock worth $9,390,331 over the last 90 days. Company insiders own 0.62% of the company’s stock.

A number of research firms recently issued reports on NOC. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 target price on the stock in a research note on Monday, June 11th. Credit Suisse Group raised their target price on shares of Northrop Grumman from $326.00 to $341.00 and gave the company a “neutral” rating in a research note on Wednesday, June 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $300.00 target price on shares of Northrop Grumman in a research note on Thursday, July 26th. Goldman Sachs Group lowered their target price on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating on the stock in a research note on Thursday, July 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating on the stock 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. The company presently has a consensus rating of “Buy” and an average target price of $362.16.

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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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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