Wright Investors Service Inc. raised its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,313 shares of the aerospace company’s stock after acquiring an additional 45 shares during the period. Wright Investors Service Inc.’s holdings in Northrop Grumman were worth $2,040,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of NOC. Sigma Planning Corp increased its position in Northrop Grumman by 6.9% during the 2nd quarter. Sigma Planning Corp now owns 2,596 shares of the aerospace company’s stock worth $839,000 after purchasing an additional 167 shares during the period. Kavar Capital Partners LLC acquired a new position in Northrop Grumman during the 2nd quarter worth approximately $36,000. Stephens Inc. AR increased its position in Northrop Grumman by 4.1% during the 2nd quarter. Stephens Inc. AR now owns 9,935 shares of the aerospace company’s stock worth $3,210,000 after purchasing an additional 393 shares during the period. Lyell Wealth Management LP increased its position in Northrop Grumman by 11.1% during the 2nd quarter. Lyell Wealth Management LP now owns 14,526 shares of the aerospace company’s stock worth $4,693,000 after purchasing an additional 1,449 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Northrop Grumman by 55.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 480,331 shares of the aerospace company’s stock worth $153,054,000 after purchasing an additional 171,117 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on NOC. Barclays boosted their target price on Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Robert W. Baird boosted their target price on Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. UBS Group boosted their target price on Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Morgan Stanley upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $335.00 to $418.00 in a research report on Tuesday, August 6th. Finally, Credit Suisse Group boosted their target price on Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Northrop Grumman currently has an average rating of “Buy” and an average price target of $345.93.
Shares of NOC traded up $2.15 on Thursday, reaching $363.57. The stock had a trading volume of 15,418 shares, compared to its average volume of 999,836. The stock has a market cap of $63.15 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.53 and a beta of 0.81. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15. The company’s 50-day moving average is $337.76. Northrop Grumman Co. has a twelve month low of $223.63 and a twelve month high of $377.34.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping analysts’ consensus estimates of $4.64 by $0.42. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.41 billion. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.50 EPS. As a group, equities analysts anticipate that Northrop Grumman Co. will post 19.63 EPS for the current year.
In other Northrop Grumman news, CEO Kathy J. Warden sold 6,837 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the sale, the chief executive officer now owns 99,002 shares in the company, valued at approximately $34,993,246.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Patrick M. Antkowiak sold 1,932 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $310.00, for a total value of $598,920.00. Following the sale, the vice president now owns 5,208 shares in the company, valued at approximately $1,614,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,740 shares of company stock worth $5,087,496. Insiders own 0.45% of the company’s stock.
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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