Bank of New York Mellon Corp Sells 114,722 Shares of Northrop Grumman Corporation (NOC)

Bank of New York Mellon Corp lowered its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 7.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,359,874 shares of the aerospace company’s stock after selling 114,722 shares during the period. Bank of New York Mellon Corp owned approximately 0.78% of Northrop Grumman Corporation worth $349,094,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Harbour Capital Advisors LLC acquired a new stake in shares of Northrop Grumman Corporation during the first quarter valued at about $108,000. Dubuque Bank & Trust Co. boosted its stake in shares of Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock valued at $119,000 after buying an additional 9 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Northrop Grumman Corporation by 63.3% in the first quarter. Global X Management Co. LLC now owns 547 shares of the aerospace company’s stock valued at $130,000 after buying an additional 212 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Northrop Grumman Corporation by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 546 shares of the aerospace company’s stock valued at $130,000 after buying an additional 15 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Northrop Grumman Corporation by 19.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 590 shares of the aerospace company’s stock valued at $151,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.

Northrop Grumman Corporation (NYSE:NOC) opened at 267.61 on Friday. The company has a market capitalization of $46.59 billion, a P/E ratio of 20.44 and a beta of 0.66. The firm has a 50-day moving average of $265.37 and a 200-day moving average of $250.80. Northrop Grumman Corporation has a 52 week low of $206.69 and a 52 week high of $274.61.

Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the business posted $2.85 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. Analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio (DPR) is presently 30.56%.

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NOC has been the topic of several recent research reports. Vertical Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $254.00 to $270.00 in a research report on Wednesday, May 10th. Deutsche Bank AG reissued a “buy” rating and issued a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Argus increased their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. BidaskClub raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Finally, Morgan Stanley initiated coverage on shares of Northrop Grumman Corporation in a research report on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price objective on the stock. 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 an average target price of $259.93.

In other Northrop Grumman Corporation news, VP Sid Ashworth sold 3,847 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the completion of the transaction, the vice president now owns 69,458 shares in the company, valued at approximately $18,059,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lisa R. Davis sold 367 shares of the business’s 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 transaction, the vice president now owns 961 shares of the company’s stock, valued at approximately $252,983.25. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Northrop Grumman Corporation Company Profile

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.

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

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