United Asset Strategies Inc. Holds Position in Northrop Grumman Corporation (NOC)

United Asset Strategies Inc. continued to hold its stake in shares of Northrop Grumman Corporation (NYSE:NOC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,066 shares of the aerospace company’s stock at the end of the second quarter. United Asset Strategies Inc.’s holdings in Northrop Grumman Corporation were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Northrop Grumman Corporation by 2,871.7% in the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock valued at $3,038,501,000 after buying an additional 12,345,491 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Northrop Grumman Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock valued at $3,035,847,000 after buying an additional 531,824 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Northrop Grumman Corporation by 5.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,617,954 shares of the aerospace company’s stock valued at $1,098,335,000 after buying an additional 239,260 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Northrop Grumman Corporation by 64.6% in the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock valued at $749,119,000 after buying an additional 1,235,985 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Northrop Grumman Corporation by 4.8% in the first quarter. Wellington Management Group LLP now owns 2,878,724 shares of the aerospace company’s stock valued at $684,676,000 after buying an additional 131,008 shares during the last quarter. 81.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of Northrop Grumman Corporation (NOC) opened at 268.13 on Friday. Northrop Grumman Corporation has a 1-year low of $206.69 and a 1-year high of $274.61. The company has a market cap of $46.68 billion, a P/E ratio of 20.48 and a beta of 0.66. The stock has a 50 day moving average price of $265.01 and a 200-day moving average price of $250.53.

Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the business earned $2.85 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts predict that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio (DPR) is currently 30.56%.

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Several brokerages have weighed in on NOC. Morgan Stanley began coverage on Northrop Grumman Corporation in a research note on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 target price on the stock. BidaskClub raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Argus lifted their target price on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Cowen and Company reaffirmed a “hold” rating and set a $275.00 target price on shares of Northrop Grumman Corporation in a research note on Monday, July 17th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $285.00 target price (up previously from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $259.93.

In other news, VP Lisa R. Davis sold 367 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total value of $96,612.75. Following the transaction, the vice president now owns 961 shares of the company’s stock, valued at approximately $252,983.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sid Ashworth sold 3,847 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total value of $1,000,220.00. Following the completion of the transaction, the vice president now directly owns 69,458 shares in the company, valued at approximately $18,059,080. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

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.

Institutional Ownership by Quarter for Northrop Grumman Corporation (NYSE:NOC)

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