Today, Daiwa Securities Group Inc. Reduces Stake in Northrop Grumman Corp. (NOC)

Today, Daiwa Securities Group Inc. Reduces Stake in Northrop Grumman Corp. (NOC)
Daiwa Securities Group Inc. decreased its position in Northrop Grumman Corp. (NYSE:NOC) by 10.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 34,790 shares of the company’s stock after selling 3,900 shares during the period. Daiwa Securities Group Inc.’s holdings in Northrop Grumman Corp. were worth $7,443,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NOC. FMR LLC boosted its stake in Northrop Grumman Corp. by 69.2% in the second quarter. FMR LLC now owns 4,262,441 shares of the company’s stock worth $947,455,000 after buying an additional 1,742,969 shares during the last quarter. Capital International Investors boosted its stake in Northrop Grumman Corp. by 57.7% in the second quarter. Capital International Investors now owns 1,799,200 shares of the company’s stock worth $399,926,000 after buying an additional 658,300 shares during the last quarter. Bank of Montreal Can bought a new stake in Northrop Grumman Corp. during the second quarter worth $76,299,000. Emerald Acquisition Ltd. bought a new stake in Northrop Grumman Corp. during the second quarter worth $58,589,000. Finally, Waddell & Reed Financial Inc. boosted its stake in Northrop Grumman Corp. by 196.8% in the second quarter. Waddell & Reed Financial Inc. now owns 324,962 shares of the company’s stock worth $72,232,000 after buying an additional 215,467 shares during the last quarter. 82.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Northrop Grumman Corp. (NYSE:NOC) traded up 0.40% during trading on Friday, hitting $248.58. 523,357 shares of the stock traded hands. The firm has a market cap of $43.81 billion, a price-to-earnings ratio of 21.21 and a beta of 0.66. The company has a 50 day moving average price of $228.99 and a 200 day moving average price of $219.37. Northrop Grumman Corp. has a 12 month low of $175.00 and a 12 month high of $253.09.

Northrop Grumman Corp. (NYSE:NOC) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $3.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.54. The firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Northrop Grumman Corp. had a net margin of 8.96% and a return on equity of 34.10%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $2.75 EPS. Analysts anticipate that Northrop Grumman Corp. will post $11.72 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Monday, December 5th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, December 1st. Northrop Grumman Corp.’s dividend payout ratio (DPR) is currently 30.72%.

NOC has been the topic of a number of research reports. Zacks Investment Research cut shares of Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Barclays PLC raised shares of Northrop Grumman Corp. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $230.00 to $270.00 in a research note on Thursday, November 10th. Jefferies Group reissued a “buy” rating and issued a $260.00 price objective (up previously from $250.00) on shares of Northrop Grumman Corp. in a research note on Friday, October 28th. JPMorgan Chase & Co. cut shares of Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $225.00 to $231.00 in a research note on Thursday, August 25th. Finally, Argus reissued a “buy” rating on shares of Northrop Grumman Corp. in a research note on Tuesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $236.16.

In related news, CFO Kenneth L. Bedingfield sold 125 shares of Northrop Grumman Corp. stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $212.20, for a total value of $26,525.00. Following the transaction, the chief financial officer now owns 18,626 shares in the company, valued at approximately $3,952,437.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Wesley G. Bush sold 35,000 shares of Northrop Grumman Corp. stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $228.37, for a total transaction of $7,992,950.00. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Northrop Grumman Corp. Company Profile

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