Lockheed Martin Investment Management Co. Buys New Holdings in Northern Trust Corporation (NTRS)

Lockheed Martin Investment Management Co. bought a new position in Northern Trust Corporation (NASDAQ:NTRS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 28,800 shares of the asset manager’s stock, valued at approximately $2,648,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Rhumbline Advisers increased its holdings in shares of Northern Trust Corporation by 1.8% during the 3rd quarter. Rhumbline Advisers now owns 377,560 shares of the asset manager’s stock worth $34,709,000 after purchasing an additional 6,636 shares during the period. Strategy Asset Managers LLC bought a new position in shares of Northern Trust Corporation during the 3rd quarter worth about $2,343,000. Toronto Dominion Bank increased its holdings in shares of Northern Trust Corporation by 11.0% during the 3rd quarter. Toronto Dominion Bank now owns 81,627 shares of the asset manager’s stock worth $7,502,000 after purchasing an additional 8,120 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Northern Trust Corporation by 2.3% during the 3rd quarter. New York State Common Retirement Fund now owns 469,000 shares of the asset manager’s stock worth $43,115,000 after purchasing an additional 10,700 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Northern Trust Corporation by 68.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 137,039 shares of the asset manager’s stock worth $12,598,000 after purchasing an additional 55,703 shares during the period. Hedge funds and other institutional investors own 82.00% of the company’s stock.

Several research firms have recently issued reports on NTRS. Bank of America Corporation set a $102.00 price objective on shares of Northern Trust Corporation and gave the stock a “buy” rating in a report on Thursday, October 19th. Morgan Stanley boosted their price objective on shares of Northern Trust Corporation from $83.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, October 19th. Buckingham Research boosted their price objective on shares of Northern Trust Corporation from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. UBS AG boosted their price objective on shares of Northern Trust Corporation from $100.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research downgraded shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $97.07.

Northern Trust Corporation (NASDAQ NTRS) traded down $0.05 during trading hours on Tuesday, reaching $92.46. 878,900 shares of the company’s stock were exchanged, compared to its average volume of 1,159,065. The firm has a market capitalization of $21,038.73, a price-to-earnings ratio of 20.20, a PEG ratio of 2.04 and a beta of 0.96. Northern Trust Corporation has a 52-week low of $80.21 and a 52-week high of $99.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Corporation (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.08. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Northern Trust Corporation had a net margin of 20.27% and a return on equity of 12.33%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 earnings per share. analysts expect that Northern Trust Corporation will post 4.68 earnings per share for the current fiscal year.

Northern Trust Corporation declared that its Board of Directors has initiated a share buyback program on Tuesday, July 18th that authorizes the company to buyback 9,500,000 outstanding shares. This buyback authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be given a $0.42 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.68 dividend on an annualized basis and a yield of 1.82%. Northern Trust Corporation’s dividend payout ratio (DPR) is presently 37.17%.

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In other news, Vice Chairman William L. Morrison sold 11,058 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $94.34, for a total transaction of $1,043,211.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Frederick H. Waddell sold 177,964 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $95.64, for a total transaction of $17,020,476.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 338,082 shares of company stock worth $31,732,330. Company insiders own 1.27% of the company’s stock.

About Northern Trust Corporation

Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

Institutional Ownership by Quarter for Northern Trust Corporation (NASDAQ:NTRS)

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