Huber Capital Management LLC lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,741 shares of the aerospace company’s stock after selling 300 shares during the period. Northrop Grumman makes up 1.2% of Huber Capital Management LLC’s portfolio, making the stock its 24th biggest position. Huber Capital Management LLC’s holdings in Northrop Grumman were worth $4,630,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Solstein Capital LLC bought a new stake in Northrop Grumman in the 1st quarter valued at approximately $25,000. Centerpoint Advisors LLC acquired a new position in shares of Northrop Grumman during the 2nd quarter worth approximately $27,000. D Orazio & Associates Inc. increased its position in shares of Northrop Grumman by 141.9% during the 2nd quarter. D Orazio & Associates Inc. now owns 75 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 44 shares during the last quarter. North Star Investment Management Corp. increased its position in shares of Northrop Grumman by 56.1% during the 2nd quarter. North Star Investment Management Corp. now owns 89 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Northrop Grumman during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 81.91% of the company’s stock.
Shares of NYSE NOC traded up $3.84 during mid-day trading on Thursday, hitting $392.54. The company had a trading volume of 7,042 shares, compared to its average volume of 900,240. The company has a market capitalization of $62.85 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.59 and a beta of 0.84. Northrop Grumman Co. has a 1 year low of $282.88 and a 1 year high of $396.58. The stock’s 50-day moving average price is $363.59 and its 200-day moving average price is $361.05. The company has a current ratio of 1.49, a quick ratio of 1.39 and a debt-to-equity ratio of 1.14.
The firm also recently disclosed a dividend, which was paid on Thursday, September 2nd. Investors of record on Monday, August 23rd were given a $0.14 dividend. The ex-dividend date was Friday, August 20th. This represents a yield of 0.15%. Northrop Grumman’s dividend payout ratio (DPR) is presently 26.55%.
Several research firms recently issued reports on NOC. Wells Fargo & Company boosted their price target on Northrop Grumman from $330.00 to $335.00 and gave the company an “underweight” rating in a research note on Monday, August 2nd. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $392.00 target price for the company in a research report on Wednesday, October 6th. Seaport Global Securities upped their target price on Northrop Grumman from $398.00 to $419.00 and gave the company a “buy” rating in a research report on Monday, July 19th. Finally, The Goldman Sachs Group upgraded Northrop Grumman from a “sell” rating to a “neutral” rating and set a $350.00 target price for the company in a research report on Thursday, September 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $395.10.
In related news, VP Thomas H. Jones sold 470 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $361.35, for a total transaction of $169,834.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mary D. Petryszyn sold 892 shares of the firm’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $358.65, for a total value of $319,915.80. Following the sale, the vice president now directly owns 12,991 shares of the company’s stock, valued at $4,659,222.15. The disclosure for this sale can be found here. Insiders sold a total of 1,597 shares of company stock worth $576,700 over the last ninety days. 0.25% of the stock is currently owned by insiders.
About Northrop Grumman
Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.
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