Sprott Inc. Cuts Position in Northrop Grumman Corporation (NYSE:NOC)

Sprott Inc. cut its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,700 shares of the aerospace company’s stock after selling 5,600 shares during the period. Northrop Grumman Corporation comprises approximately 0.8% of Sprott Inc.’s portfolio, making the stock its 15th largest position. Sprott Inc.’s holdings in Northrop Grumman Corporation were worth $22,257,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the stock. BlackRock Inc. increased its stake in 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 worth $3,038,501,000 after buying an additional 12,345,491 shares in the last quarter. Alliancebernstein L.P. increased its stake in 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 worth $749,119,000 after buying an additional 1,235,985 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in Northrop Grumman Corporation during the first quarter worth about $198,691,000. Renaissance Technologies LLC increased its stake in Northrop Grumman Corporation by 331.4% in the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after buying an additional 759,900 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in 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 worth $3,035,847,000 after buying an additional 531,824 shares in the last quarter. 81.80% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Corporation (NYSE:NOC) traded down 0.19% during trading on Friday, reaching $267.61. 551,186 shares of the company were exchanged. The firm’s 50-day moving average is $265.37 and its 200 day moving average is $250.80. Northrop Grumman Corporation has a one year low of $206.69 and a one year high of $274.61. The company has a market capitalization of $46.59 billion, a P/E ratio of 20.44 and a beta of 0.66.

Northrop Grumman Corporation (NYSE:NOC) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping the consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the firm earned $2.85 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 28th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Thursday, August 24th. Northrop Grumman Corporation’s payout ratio is 30.56%.

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A number of analysts have issued reports on NOC shares. Jefferies Group LLC reissued a “hold” rating and issued a $243.00 price objective on shares of Northrop Grumman Corporation in a report on Wednesday, June 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $255.00 price target (up previously from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Deutsche Bank AG reaffirmed a “buy” rating and set a $285.00 price target (up previously from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Vertical Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and upped their price target for the stock from $254.00 to $270.00 in a report on Wednesday, May 10th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $275.00 price target on shares of Northrop Grumman Corporation in a report on Monday, July 17th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Northrop Grumman Corporation presently has an average rating of “Buy” and an average price target of $259.93.

In related news, VP Sid Ashworth sold 3,847 shares of Northrop Grumman Corporation 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 transaction, the vice president now directly owns 69,458 shares of the company’s stock, valued at $18,059,080. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the completion of the transaction, the vice president now directly owns 961 shares in the company, valued at $252,983.25. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

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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