Castle Rock Wealth Management LLC boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,207 shares of the aerospace company’s stock after purchasing an additional 206 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Northrop Grumman were worth $723,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC raised its stake in Northrop Grumman by 30,736.5% in the second quarter. Thoroughbred Financial Services LLC now owns 785,405 shares of the aerospace company’s stock valued at $78,540,000 after purchasing an additional 782,858 shares in the last quarter. Rothschild & Co. Asset Management US Inc. bought a new stake in shares of Northrop Grumman during the second quarter worth about $65,331,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Northrop Grumman by 55.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 480,331 shares of the aerospace company’s stock worth $153,054,000 after purchasing an additional 171,117 shares during the last quarter. Clark Capital Management Group Inc. bought a new stake in shares of Northrop Grumman during the first quarter worth about $22,115,000. Finally, SeaTown Holdings Pte. Ltd. bought a new stake in shares of Northrop Grumman during the second quarter worth about $21,648,000. 83.11% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Christopher T. Jones sold 5,000 shares of Northrop Grumman stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.19, for a total value of $1,765,950.00. Following the completion of the transaction, the vice president now owns 67,422 shares in the company, valued at approximately $23,812,776.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kathy J. Warden sold 6,837 shares of Northrop Grumman stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.46, for a total value of $2,416,606.02. Following the completion of the transaction, the chief executive officer now owns 99,002 shares of the company’s stock, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.
NYSE NOC traded up $0.75 on Friday, reaching $365.97. The company had a trading volume of 164,411 shares, compared to its average volume of 671,183. Northrop Grumman Co. has a 52-week low of $223.63 and a 52-week high of $377.34. The company’s fifty day moving average is $361.49 and its 200 day moving average is $313.26. The stock has a market capitalization of $60.08 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.45 and a beta of 0.79. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, beating the Zacks’ consensus estimate of $4.64 by $0.42. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.41 billion. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. Northrop Grumman’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.50 EPS. On average, research analysts expect that Northrop Grumman Co. will post 19.63 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, September 6th. Northrop Grumman’s payout ratio is presently 24.75%.
NOC has been the topic of several research reports. Barclays boosted their price target on Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Morgan Stanley upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $335.00 to $418.00 in a report on Tuesday, August 6th. Sanford C. Bernstein upped their target price on Northrop Grumman from $344.00 to $368.00 in a report on Thursday, July 25th. ValuEngine cut Northrop Grumman from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 price target on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $347.60.
About Northrop Grumman
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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