Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its position in shares of Northrop Grumman Co. (NYSE:NOC) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,889 shares of the aerospace company’s stock after purchasing an additional 450 shares during the quarter. Pacer Advisors Inc.’s holdings in Northrop Grumman were worth $6,330,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NOC. Vanguard Group Inc. grew its stake in shares of Northrop Grumman by 1.0% in the second quarter. Vanguard Group Inc. now owns 13,897,587 shares of the aerospace company’s stock worth $4,490,450,000 after acquiring an additional 140,627 shares during the period. Northern Trust Corp boosted its holdings in shares of Northrop Grumman by 0.5% in the second quarter. Northern Trust Corp now owns 1,714,919 shares of the aerospace company’s stock worth $554,108,000 after buying an additional 8,997 shares during the last quarter. Putnam Investments LLC boosted its holdings in shares of Northrop Grumman by 30.7% in the second quarter. Putnam Investments LLC now owns 1,444,136 shares of the aerospace company’s stock worth $466,615,000 after buying an additional 339,169 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Northrop Grumman by 32,192.2% in the second quarter. Nuveen Asset Management LLC now owns 1,241,311 shares of the aerospace company’s stock worth $401,079,000 after buying an additional 1,237,467 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Northrop Grumman by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 1,202,611 shares of the aerospace company’s stock worth $388,576,000 after buying an additional 12,059 shares during the last quarter. Institutional investors and hedge funds own 83.09% of the company’s stock.

NOC has been the topic of several analyst reports. Sanford C. Bernstein lifted their price target on shares of Northrop Grumman from $344.00 to $368.00 in a report on Thursday, July 25th. Robert W. Baird lifted their price target on shares of Northrop Grumman from $300.00 to $364.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Credit Suisse Group lifted their price target on shares of Northrop Grumman from $364.00 to $385.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America reissued a “buy” rating and issued a $405.00 target price (up previously from $355.00) on shares of Northrop Grumman in a report on Thursday, July 25th. Finally, ValuEngine cut shares of Northrop Grumman from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $348.87.

Shares of NYSE:NOC traded down $1.18 during midday trading on Friday, reaching $367.57. 6,955 shares of the company’s stock traded hands, compared to its average volume of 1,143,414. The company has a fifty day simple moving average of $368.02 and a two-hundred day simple moving average of $325.96. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.15 and a current ratio of 1.25. The company has a market cap of $62.34 billion, a P/E ratio of 17.25, a PEG ratio of 1.51 and a beta of 0.80. Northrop Grumman Co. has a 1 year low of $223.63 and a 1 year high of $383.89.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.64 by $0.42. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.41 billion. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period last year, the company earned $4.50 EPS. As a group, research analysts forecast that Northrop Grumman Co. will post 19.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Monday, September 9th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, September 6th. Northrop Grumman’s payout ratio is 24.75%.

In other news, CEO Kathy J. Warden sold 6,837 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was 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 of the company’s stock, valued at $34,993,246.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher T. Jones sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $353.19, for a total value of $1,765,950.00. Following the completion of the transaction, the vice president now directly owns 67,422 shares in the company, valued at approximately $23,812,776.18. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.

About Northrop Grumman

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.

Further Reading: Dividend

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

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