Tiverton Asset Management LLC Acquires New Shares in Northrop Grumman Co. (NYSE:NOC)
Tiverton Asset Management LLC acquired a new stake in Northrop Grumman Co. (NYSE:NOC) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,120 shares of the aerospace company’s stock, valued at approximately $362,000.
Other institutional investors have also added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp acquired a new stake in Northrop Grumman in the second quarter valued at approximately $9,784,000. Trust Co. of Toledo NA OH bought a new position in Northrop Grumman in the first quarter valued at about $231,000. Sullivan Bruyette Speros & Blaney LLC raised its position in Northrop Grumman by 4.8% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 1,495 shares of the aerospace company’s stock valued at $483,000 after purchasing an additional 69 shares during the last quarter. Westwood Holdings Group Inc. raised its position in Northrop Grumman by 1.1% in the first quarter. Westwood Holdings Group Inc. now owns 245,284 shares of the aerospace company’s stock valued at $66,128,000 after purchasing an additional 2,777 shares during the last quarter. Finally, Merit Financial Group LLC boosted its stake in shares of Northrop Grumman by 26.6% during the first quarter. Merit Financial Group LLC now owns 1,462 shares of the aerospace company’s stock valued at $394,000 after purchasing an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.
In related news, CEO Kathy J. Warden sold 6,837 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $353.46, for a total value of $2,416,606.02. Following the transaction, the chief executive officer now owns 99,002 shares in the company, valued at $34,993,246.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Christopher T. Jones sold 5,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $353.19, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.
Northrop Grumman (NYSE:NOC) last released its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, beating analysts’ consensus estimates of $4.64 by $0.42. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.41 billion. During the same quarter in the prior year, the firm posted $4.50 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 19.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, September 6th. Northrop Grumman’s dividend payout ratio is currently 24.75%.
NOC has been the topic of several research reports. UBS Group upped their price objective on Northrop Grumman from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Sanford C. Bernstein raised their price objective on shares of Northrop Grumman from $344.00 to $368.00 in a report on Thursday, July 25th. Morgan Stanley upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $335.00 to $418.00 in a research report on Tuesday, August 6th. Robert W. Baird boosted their target price on shares of Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Finally, Credit Suisse Group upped their price target on shares of Northrop Grumman from $364.00 to $385.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. Northrop Grumman presently has an average rating of “Buy” and a consensus price target of $347.60.
Northrop Grumman Profile
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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