Russell Investments Group Ltd. Sells 15,011 Shares of Northrop Grumman Corporation (NOC)
Russell Investments Group Ltd. lowered its stake in Northrop Grumman Corporation (NYSE:NOC) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 183,952 shares of the aerospace company’s stock after selling 15,011 shares during the period. Russell Investments Group Ltd. owned 0.11% of Northrop Grumman Corporation worth $52,923,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Northrop Grumman Corporation in the 3rd quarter worth approximately $30,405,000. Caxton Associates LP bought a new position in Northrop Grumman Corporation in the 2nd quarter valued at approximately $5,134,000. Gerber Kawasaki Wealth & Investment Management lifted its position in Northrop Grumman Corporation by 4.4% in the 2nd quarter. Gerber Kawasaki Wealth & Investment Management now owns 27,847 shares of the aerospace company’s stock valued at $7,289,000 after acquiring an additional 1,180 shares in the last quarter. Toronto Dominion Bank lifted its position in Northrop Grumman Corporation by 25.2% in the 2nd quarter. Toronto Dominion Bank now owns 59,532 shares of the aerospace company’s stock valued at $15,280,000 after acquiring an additional 11,991 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new position in Northrop Grumman Corporation in the 2nd quarter valued at approximately $241,000. Institutional investors own 81.93% of the company’s stock.
Shares of Northrop Grumman Corporation (NOC) opened at $296.85 on Friday. Northrop Grumman Corporation has a 12 month low of $220.72 and a 12 month high of $306.61. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $51,675.05, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 2.99 and a beta of 0.70.
Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.76. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the business posted $3.35 EPS. Northrop Grumman Corporation’s revenue for the quarter was up 6.0% compared to the same quarter last year. equities analysts expect that Northrop Grumman Corporation will post 13.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.35%. Northrop Grumman Corporation’s payout ratio is 29.81%.
In other news, VP Sid Ashworth sold 6,311 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $298.00, for a total transaction of $1,880,678.00. Following the completion of the transaction, the vice president now owns 63,147 shares in the company, valued at $18,817,806. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Gloria A. Flach sold 7,741 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $296.45, for a total value of $2,294,819.45. Following the transaction, the chief operating officer now owns 77,200 shares of the company’s stock, valued at approximately $22,885,940. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,417 shares of company stock valued at $6,365,189. Company insiders own 0.70% of the company’s stock.
Several equities analysts recently issued reports on the company. Morgan Stanley assumed coverage on Northrop Grumman Corporation in a research report on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price objective on the stock. BidaskClub raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $269.00 price objective on shares of Northrop Grumman Corporation in a research report on Friday, September 29th. Zacks Investment Research cut Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Argus upped their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Northrop Grumman Corporation has a consensus rating of “Buy” and a consensus target price of $293.93.
About Northrop Grumman Corporation
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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