Oakbrook Investments LLC increased its holdings in Northrop Grumman Co. (NYSE:NOC) by 86.7% during the 2nd quarter, Holdings Channel reports. The firm owned 12,675 shares of the aerospace company’s stock after buying an additional 5,885 shares during the period. Oakbrook Investments LLC’s holdings in Northrop Grumman were worth $4,095,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Trustcore Financial Services LLC bought a new stake in Northrop Grumman during the 1st quarter valued at approximately $27,000. Glassman Wealth Services raised its holdings in Northrop Grumman by 203.0% in the 1st quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 67 shares during the last quarter. Truvestments Capital LLC bought a new stake in Northrop Grumman in the 1st quarter worth approximately $28,000. Meridian Wealth Management LLC bought a new stake in Northrop Grumman in the 1st quarter worth approximately $29,000. Finally, Legacy Advisors LLC bought a new stake in Northrop Grumman in the 1st quarter worth approximately $30,000. 83.22% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on NOC shares. Bank of America downgraded shares of TAL Education Group from a “buy” rating to a “neutral” rating in a research report on Thursday. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. Credit Suisse Group reissued a “buy” rating and set a $425.00 price objective on shares of Boeing in a research report on Thursday. UBS Group boosted their price objective on shares of Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Robert W. Baird boosted their price objective on shares of Northrop Grumman from $300.00 to $364.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $347.28.
In other Northrop Grumman news, Chairman Wesley G. Bush sold 50,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $291.59, for a total value of $14,579,500.00. Following the sale, the chairman now owns 46,275 shares in the company, valued at approximately $13,493,327.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Madeleine Kleiner sold 971 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $315.16, for a total transaction of $306,020.36. Following the completion of the sale, the director now owns 16,675 shares in the company, valued at approximately $5,255,293. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,903 shares of company stock worth $15,484,440. Corporate insiders own 0.45% of the company’s stock.
Northrop Grumman stock traded down $2.13 during mid-day trading on Friday, hitting $352.59. The stock had a trading volume of 54,251 shares, compared to its average volume of 678,222. The stock has a market cap of $59.91 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 1.38 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.25 and a quick ratio of 1.10. The company has a 50 day moving average of $320.79. Northrop Grumman Co. has a one year low of $223.63 and a one year high of $358.96.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, topping the consensus estimate 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 net margin of 9.80% and a return on equity of 42.21%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.50 EPS. On average, research analysts predict that Northrop Grumman Co. will post 19.34 earnings per share for the current year.
Northrop Grumman 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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