Northrop Grumman Co. (NYSE:NOC) Shares Bought by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,208 shares of the aerospace company’s stock after acquiring an additional 241 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Northrop Grumman were worth $6,833,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. PointState Capital LP bought a new position in Northrop Grumman in the 1st quarter worth approximately $99,988,000. Fluent Financial LLC boosted its stake in Northrop Grumman by 16.4% in the 2nd quarter. Fluent Financial LLC now owns 3,129 shares of the aerospace company’s stock worth $963,000 after purchasing an additional 440 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Northrop Grumman by 16.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 254,452 shares of the aerospace company’s stock worth $88,834,000 after purchasing an additional 35,748 shares during the period. RB Capital Management LLC boosted its stake in Northrop Grumman by 18.8% in the 2nd quarter. RB Capital Management LLC now owns 1,361 shares of the aerospace company’s stock worth $419,000 after purchasing an additional 215 shares during the period. Finally, Kaizen Advisory LLC boosted its stake in Northrop Grumman by 156.2% in the 2nd quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock worth $133,000 after purchasing an additional 264 shares during the period. Institutional investors own 81.48% of the company’s stock.
In other Northrop Grumman news, VP Mark A. Caylor sold 4,543 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $297.45, for a total value of $1,351,315.35. Following the transaction, the vice president now owns 24,592 shares of the company’s stock, valued at approximately $7,314,890.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth L. Bedingfield sold 1,442 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $300.00, for a total value of $432,600.00. The disclosure for this sale can be found here. Insiders sold a total of 31,475 shares of company stock worth $9,390,331 in the last ninety days. 0.62% of the stock is currently owned by corporate insiders.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.84 by $0.09. The company had revenue of $7.12 billion for the quarter, compared to analyst estimates of $7.10 billion. Northrop Grumman had a return on equity of 34.88% and a net margin of 8.33%. Northrop Grumman’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.16 EPS. equities analysts forecast that Northrop Grumman Co. will post 16.84 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Monday, August 27th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.56%. The ex-dividend date was Friday, August 24th. Northrop Grumman’s dividend payout ratio (DPR) is presently 36.14%.
Several research analysts have weighed in on NOC shares. Buckingham Research upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and upped their price target for the stock from $246.00 to $371.00 in a research note on Tuesday, July 31st. They noted that the move was a valuation call. ValuEngine cut Northrop Grumman from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. UBS Group initiated coverage on Northrop Grumman in a report on Wednesday, August 15th. They set a “neutral” rating and a $315.00 price objective on the stock. Zacks Investment Research cut Northrop Grumman from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $362.16.
About Northrop Grumman
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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