Sumitomo Life Insurance Co. Has $1.85 Million Stake in Northrop Grumman Corporation (NYSE:NOC)

Sumitomo Life Insurance Co. increased its stake in Northrop Grumman Corporation (NYSE:NOC) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,221 shares of the aerospace company’s stock after buying an additional 305 shares during the period. Sumitomo Life Insurance Co.’s holdings in Northrop Grumman Corporation were worth $1,854,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barometer Capital Management Inc. raised its position in shares of Northrop Grumman Corporation by 100.0% in the first quarter. Barometer Capital Management Inc. now owns 109,000 shares of the aerospace company’s stock valued at $25,925,000 after buying an additional 54,500 shares during the period. Patten & Patten Inc. TN raised its position in shares of Northrop Grumman Corporation by 16.1% in the first quarter. Patten & Patten Inc. TN now owns 3,604 shares of the aerospace company’s stock valued at $857,000 after buying an additional 500 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Northrop Grumman Corporation by 497.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,144 shares of the aerospace company’s stock valued at $3,594,000 after buying an additional 12,608 shares during the period. Torch Wealth Management LLC acquired a new position in Northrop Grumman Corporation during the first quarter valued at approximately $1,081,000. Finally, Fox Run Management L.L.C. acquired a new position in Northrop Grumman Corporation during the first quarter valued at approximately $404,000. 81.80% of the stock is owned by institutional investors.

Shares of Northrop Grumman Corporation (NOC) traded down 0.19% on Friday, reaching $267.61. 551,186 shares of the company were exchanged. Northrop Grumman Corporation has a 1-year low of $206.69 and a 1-year high of $274.61. The company has a 50-day moving average price of $265.37 and a 200 day moving average price of $250.80. The stock has a market capitalization of $46.59 billion, a PE ratio of 20.44 and a beta of 0.66.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th will be paid a dividend of $1.00 per share. 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 dividend payout ratio (DPR) is currently 30.56%.

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Several research firms have recently commented on NOC. Argus raised their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Stifel Nicolaus reissued a “hold” rating and issued a $255.00 price objective (up previously from $245.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and issued a $243.00 price objective on shares of Northrop Grumman Corporation in a research note on Wednesday, June 21st. Vertical Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $254.00 to $270.00 in a research note on Wednesday, May 10th. Finally, Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a research note on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price objective for the company. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $259.93.

In other news, VP Lisa R. Davis sold 367 shares of the stock in a transaction that occurred 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 approximately $252,983.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sid Ashworth sold 3,847 shares of the stock in a transaction that occurred 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 owns 69,458 shares of the company’s stock, valued at $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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