Today, Gulf International Bank UK Ltd Reached $11,103,000 position of Northrop Grumman Corp. (NOC)

Today, Gulf International Bank UK Ltd Reached $11,103,000 position  of Northrop Grumman Corp. (NOC)

Gulf International Bank UK Ltd held its stake in shares of Northrop Grumman Corp. (NYSE:NOC) during the third quarter, Holdings Channel reports. The firm owned 51,898 shares of the company’s stock at the end of the third quarter. Gulf International Bank UK Ltd’s holdings in Northrop Grumman Corp. were worth $11,103,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FMR LLC increased its stake in shares of 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 increased its stake in shares of 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 acquired a new stake in shares of Northrop Grumman Corp. during the second quarter worth $76,299,000. Emerald Acquisition Ltd. acquired a new stake in shares of Northrop Grumman Corp. during the second quarter worth $58,589,000. Finally, Waddell & Reed Financial Inc. increased its stake in shares of 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. Institutional investors and hedge funds own 80.77% of the company’s stock.

Shares of Northrop Grumman Corp. (NYSE:NOC) traded up 0.19% during mid-day trading on Monday, hitting $249.04. The company’s stock had a trading volume of 608,100 shares. The stock’s 50 day moving average price is $230.44 and its 200 day moving average price is $219.61. The company has a market cap of $43.90 billion, a price-to-earnings ratio of 21.25 and a beta of 0.66. Northrop Grumman Corp. has a 52-week low of $175.00 and a 52-week high of $253.09.

Northrop Grumman Corp. (NYSE:NOC) last announced its earnings results on Wednesday, October 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.54. Northrop Grumman Corp. had a return on equity of 34.10% and a net margin of 8.96%. The firm earned $6.20 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the prior year, the company earned $2.75 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. Equities analysts forecast that Northrop Grumman Corp. will post $11.72 EPS for the current year.

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

A number of brokerages have commented on NOC. Zacks Investment Research cut Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Barclays PLC raised Northrop Grumman Corp. from an “equal weight” rating to an “overweight” rating and raised their price objective for the company 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 Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and raised their price objective for the company 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 analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $236.16.

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

About Northrop Grumman Corp.

Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.

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