Pearl River Capital LLC raised its position in shares of Northrop Grumman Co. (NYSE:NOC) by 501.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,197 shares of the aerospace company’s stock after purchasing an additional 1,832 shares during the period. Pearl River Capital LLC’s holdings in Northrop Grumman were worth $675,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NOC. Prospera Financial Services Inc increased its holdings in shares of Northrop Grumman by 23.7% in the 2nd quarter. Prospera Financial Services Inc now owns 2,000 shares of the aerospace company’s stock valued at $615,000 after acquiring an additional 383 shares during the period. Cascadia Advisory Services LLC acquired a new stake in Northrop Grumman during the 2nd quarter worth about $1,756,000. Meitav Dash Investments Ltd. lifted its position in Northrop Grumman by 70.0% during the 2nd quarter. Meitav Dash Investments Ltd. now owns 62,180 shares of the aerospace company’s stock worth $19,117,000 after acquiring an additional 25,607 shares during the period. Sound View Wealth Advisors Group LLC lifted its position in Northrop Grumman by 2.3% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 2,137 shares of the aerospace company’s stock worth $657,000 after acquiring an additional 49 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Northrop Grumman by 0.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 211,494 shares of the aerospace company’s stock valued at $65,022,000 after buying an additional 1,623 shares during the period. 83.97% of the stock is owned by institutional investors and hedge funds.
NYSE:NOC traded down $1.44 during trading hours on Thursday, reaching $336.47. 12,074 shares of the stock were exchanged, compared to its average volume of 832,939. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 1.61. The business has a 50-day moving average of $316.18 and a two-hundred day moving average of $327.88. Northrop Grumman Co. has a twelve month low of $263.31 and a twelve month high of $385.01. The company has a market capitalization of $56.28 billion, a price-to-earnings ratio of 23.74 and a beta of 0.78.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, July 30th. The aerospace company reported $6.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.32 by $0.69. The company had revenue of $8.88 billion for the quarter, compared to analyst estimates of $8.66 billion. Northrop Grumman had a return on equity of 40.24% and a net margin of 6.91%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $5.06 earnings per share. On average, research analysts forecast that Northrop Grumman Co. will post 22.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 1.72%. Northrop Grumman’s payout ratio is 27.35%.
In other Northrop Grumman news, VP David T. Perry sold 5,091 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $326.83, for a total transaction of $1,663,891.53. Following the transaction, the vice president now owns 9,508 shares of the company’s stock, valued at $3,107,499.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.
A number of research firms recently weighed in on NOC. Seaport Global Securities began coverage on Northrop Grumman in a report on Tuesday, May 19th. They issued a “buy” rating and a $398.00 price target for the company. ValuEngine upgraded Northrop Grumman from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Zacks Investment Research upgraded Northrop Grumman from a “sell” rating to a “hold” rating and set a $320.00 price target for the company in a research report on Thursday, June 25th. Royal Bank of Canada upped their price target on Northrop Grumman from $366.00 to $391.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Finally, TheStreet upgraded Northrop Grumman from a “c” rating to a “b-” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Northrop Grumman has a consensus rating of “Hold” and an average price target of $385.00.
Northrop Grumman Company Profile
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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