JPMorgan Chase & Co. Has $999.73 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

JPMorgan Chase & Co. lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,141,043 shares of the aerospace company’s stock after selling 411,811 shares during the period. JPMorgan Chase & Co. owned about 1.86% of Northrop Grumman worth $999,731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Trustcore Financial Services LLC acquired a new stake in Northrop Grumman during the 1st quarter worth about $27,000. Glassman Wealth Services raised its holdings in Northrop Grumman by 203.0% during the 1st quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock worth $27,000 after buying an additional 67 shares during the period. Massey Quick Simon & CO. LLC acquired a new stake in Northrop Grumman during the 2nd quarter worth about $27,000. Meridian Wealth Management LLC acquired a new stake in Northrop Grumman during the 1st quarter worth about $29,000. Finally, Berman Capital Advisors LLC raised its holdings in Northrop Grumman by 78.1% during the 1st quarter. Berman Capital Advisors LLC now owns 114 shares of the aerospace company’s stock worth $30,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

In related news, VP Christopher T. Jones sold 5,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.19, for a total value of $1,765,950.00. Following the transaction, the vice president now owns 67,422 shares in the company, valued at $23,812,776.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kathy J. Warden sold 6,837 shares of the 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 completion of the transaction, the chief executive officer now owns 99,002 shares in the company, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

Several analysts have issued reports on NOC shares. Barclays boosted their price objective on Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Bank of America reiterated 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. Sanford C. Bernstein upped their target price on Northrop Grumman from $344.00 to $368.00 in a report on Thursday, July 25th. Robert W. Baird upped their target price on Northrop Grumman from $300.00 to $364.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Finally, Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $345.93.

Shares of NOC traded down $10.52 during trading hours on Friday, reaching $361.50. The company’s stock had a trading volume of 552,340 shares, compared to its average volume of 854,557. The firm has a market cap of $62.95 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 1.52 and a beta of 0.81. Northrop Grumman Co. has a 1-year low of $223.63 and a 1-year high of $377.34. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62. The company has a 50 day moving average of $346.03 and a two-hundred day moving average of $305.52.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, beating analysts’ consensus estimates of $4.64 by $0.42. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same quarter in the prior year, the company earned $4.50 EPS. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, analysts forecast that Northrop Grumman Co. will post 19.63 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Monday, September 9th will be issued a $1.32 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.28 dividend on an annualized basis and a yield of 1.46%. Northrop Grumman’s dividend payout ratio is currently 24.75%.

Northrop Grumman Company Profile

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.

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

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