Holderness Investments Co. Acquires 39 Shares of Northrop Grumman Co. (NYSE:NOC)

Holderness Investments Co. raised its holdings in Northrop Grumman Co. (NYSE:NOC) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,078 shares of the aerospace company’s stock after buying an additional 39 shares during the period. Holderness Investments Co.’s holdings in Northrop Grumman were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. ProShare Advisors LLC lifted its position in Northrop Grumman by 29.5% in the 2nd quarter. ProShare Advisors LLC now owns 23,230 shares of the aerospace company’s stock valued at $10,127,000 after acquiring an additional 5,285 shares in the last quarter. Alaethes Wealth LLC raised its stake in shares of Northrop Grumman by 3.1% in the second quarter. Alaethes Wealth LLC now owns 2,992 shares of the aerospace company’s stock worth $1,304,000 after purchasing an additional 90 shares during the last quarter. Huber Capital Management LLC raised its stake in shares of Northrop Grumman by 3.5% in the second quarter. Huber Capital Management LLC now owns 11,718 shares of the aerospace company’s stock worth $5,108,000 after purchasing an additional 400 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Northrop Grumman by 9.8% in the second quarter. Summit Trail Advisors LLC now owns 895 shares of the aerospace company’s stock valued at $390,000 after purchasing an additional 80 shares in the last quarter. Finally, AE Wealth Management LLC grew its holdings in Northrop Grumman by 19.6% during the second quarter. AE Wealth Management LLC now owns 1,778 shares of the aerospace company’s stock worth $775,000 after buying an additional 291 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOC has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research report on Tuesday, August 27th. UBS Group upped their price objective on shares of Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Finally, Royal Bank of Canada upped their target price on Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $523.20.

Insider Buying and Selling

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the sale, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the sale, the vice president now directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,846 shares of company stock valued at $1,393,028. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NOC opened at $525.13 on Friday. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $528.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. The stock’s fifty day moving average price is $496.06 and its two-hundred day moving average price is $469.78. The firm has a market cap of $77.71 billion, a PE ratio of 36.72, a PEG ratio of 2.36 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The business had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $5.34 EPS. On average, equities research analysts forecast that Northrop Grumman Co. will post 25.14 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 57.62%.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.