Ameriprise Financial Inc. trimmed its stake in Northrop Grumman Corporation (NYSE:NOC) by 3.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 485,163 shares of the aerospace company’s stock after selling 19,360 shares during the quarter. Ameriprise Financial Inc. owned about 0.28% of Northrop Grumman Corporation worth $124,533,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. grew its holdings in Northrop Grumman Corporation by 0.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 837 shares of the aerospace company’s stock valued at $199,000 after purchasing an additional 3 shares during the period. Concert Wealth Management Inc. grew its holdings in Northrop Grumman Corporation by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 1,083 shares of the aerospace company’s stock valued at $252,000 after purchasing an additional 8 shares during the period. Argent Trust Co grew its holdings in Northrop Grumman Corporation by 0.7% in the first quarter. Argent Trust Co now owns 1,691 shares of the aerospace company’s stock valued at $401,000 after purchasing an additional 11 shares during the period. Bank of Stockton grew its holdings in Northrop Grumman Corporation by 0.9% in the second quarter. Bank of Stockton now owns 1,294 shares of the aerospace company’s stock valued at $332,000 after purchasing an additional 12 shares during the period. Finally, Eqis Capital Management Inc. grew its holdings in Northrop Grumman Corporation by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 1,318 shares of the aerospace company’s stock valued at $338,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.
A number of equities research analysts recently issued reports on NOC shares. Deutsche Bank AG restated a “buy” rating and issued a $285.00 target price (up from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Argus boosted their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. BidaskClub upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Royal Bank Of Canada set a $294.00 price objective on shares of Northrop Grumman Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Finally, Zacks Investment Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $305.00 price objective for the company in a research note on Tuesday, September 5th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $269.43.
In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the stock in a transaction that occurred 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 in the company, valued at $252,983.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.
Northrop Grumman Corporation (NYSE NOC) opened at 267.03 on Friday. The firm has a market capitalization of $46.49 billion, a PE ratio of 20.40 and a beta of 0.66. Northrop Grumman Corporation has a 52-week low of $210.60 and a 52-week high of $274.61. The stock’s 50 day moving average is $268.61 and its 200-day moving average is $254.97.
Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the consensus estimate 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 company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the company posted $2.85 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts expect that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $4.00 annualized dividend and a yield of 1.50%. Northrop Grumman Corporation’s dividend payout ratio (DPR) is presently 30.56%.
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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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