National Pension Service Boosts Stake in Northrop Grumman Corp. (NOC)
National Pension Service increased its position in shares of Northrop Grumman Corp. (NYSE:NOC) by 8.5% during the third quarter, Holdings Channel reports. The firm owned 119,911 shares of the company’s stock after buying an additional 9,404 shares during the period. National Pension Service’s holdings in Northrop Grumman Corp. were worth $25,655,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in Northrop Grumman Corp. by 13.9% in the second quarter. Quadrant Capital Group LLC now owns 501 shares of the company’s stock worth $106,000 after buying an additional 61 shares during the period. Dubuque Bank & Trust Co. increased its position in Northrop Grumman Corp. by 446.7% in the second quarter. Dubuque Bank & Trust Co. now owns 492 shares of the company’s stock worth $109,000 after buying an additional 402 shares during the period. Community Bank N.A. increased its position in Northrop Grumman Corp. by 4.0% in the third quarter. Community Bank N.A. now owns 520 shares of the company’s stock worth $111,000 after buying an additional 20 shares during the period. Thompson Davis & CO. Inc. increased its position in Northrop Grumman Corp. by 1.5% in the second quarter. Thompson Davis & CO. Inc. now owns 533 shares of the company’s stock worth $118,000 after buying an additional 8 shares during the period. Finally, Oakworth Capital Inc. increased its position in Northrop Grumman Corp. by 8.6% in the second quarter. Oakworth Capital Inc. now owns 632 shares of the company’s stock worth $134,000 after buying an additional 50 shares during the period. 80.77% of the stock is currently owned by institutional investors.
Northrop Grumman Corp. (NYSE:NOC) traded down 0.44% during trading on Wednesday, reaching $250.68. The company had a trading volume of 142,545 shares. The company has a 50-day moving average price of $231.40 and a 200 day moving average price of $219.89. The company has a market capitalization of $44.19 billion, a price-to-earnings ratio of 21.39 and a beta of 0.66. Northrop Grumman Corp. has a one year low of $175.00 and a one year high of $253.09.
Northrop Grumman Corp. (NYSE:NOC) last released its earnings results on Wednesday, October 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.54. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.01 billion. Northrop Grumman Corp. had a net margin of 8.96% and a return on equity of 34.10%. Northrop Grumman Corp.’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.75 earnings per share. Analysts expect that Northrop Grumman Corp. will post $11.72 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Monday, December 5th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $3.60 annualized dividend and a yield of 1.43%. Northrop Grumman Corp.’s payout ratio is 30.72%.
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Several brokerages recently commented on NOC. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Northrop Grumman Corp. in a research note on Monday, November 14th. Vetr raised Northrop Grumman Corp. from a “sell” rating to a “hold” rating and set a $251.18 price objective on the stock in a research note on Thursday, November 10th. Barclays PLC raised Northrop Grumman Corp. from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $230.00 to $270.00 in a research note on Thursday, November 10th. Jefferies Group reaffirmed a “buy” rating and set a $260.00 price objective (up previously from $250.00) on shares of Northrop Grumman Corp. in a research note on Friday, October 28th. Finally, Vertical Research began coverage on Northrop Grumman Corp. in a research note on Friday, October 28th. They set a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $236.16.
In other news, VP Christopher T. Jones sold 240 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $212.20, for a total transaction of $50,928.00. Following the transaction, the vice president now owns 47,780 shares in the company, valued at $10,138,916. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Denise M. Peppard sold 2,015 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $229.50, for a total transaction of $462,442.50. Following the transaction, the vice president now owns 37,284 shares in the company, valued at approximately $8,556,678. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.
Northrop Grumman Corp. Company Profile
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.
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