Strategic Wealth Management Group LLC cut its stake in Northrop Grumman Co. (NYSE:NOC) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,146 shares of the aerospace company’s stock after selling 94 shares during the quarter. Strategic Wealth Management Group LLC’s holdings in Northrop Grumman were worth $693,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in NOC. Geode Capital Management LLC grew its stake in shares of Northrop Grumman by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,002,473 shares of the aerospace company’s stock valued at $489,450,000 after acquiring an additional 56,098 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in Northrop Grumman by 30,736.5% in the second quarter. Thoroughbred Financial Services LLC now owns 785,405 shares of the aerospace company’s stock worth $78,540,000 after purchasing an additional 782,858 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Northrop Grumman by 0.4% in the first quarter. Parametric Portfolio Associates LLC now owns 610,718 shares of the aerospace company’s stock worth $164,650,000 after purchasing an additional 2,698 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Northrop Grumman by 0.3% in the first quarter. PNC Financial Services Group Inc. now owns 577,273 shares of the aerospace company’s stock worth $155,632,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Northrop Grumman by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 541,267 shares of the aerospace company’s stock worth $132,552,000 after purchasing an additional 33,098 shares in the last quarter. 83.22% of the stock is currently owned by institutional investors.
A number of research firms recently commented on NOC. Morgan Stanley set a $18.00 price target on PG&E and gave the stock a “hold” rating in a research note on Friday, June 14th. UBS Group lifted their price target on Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 30th. Credit Suisse Group reiterated a “buy” rating and issued a $425.00 price target on shares of Boeing in a research note on Thursday. Finally, ValuEngine upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Northrop Grumman presently has an average rating of “Buy” and a consensus price target of $347.28.
NOC stock traded down $3.52 during midday trading on Friday, reaching $351.20. The company had a trading volume of 32,966 shares, compared to its average volume of 678,222. 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 stock’s 50 day moving average price is $320.79. Northrop Grumman Co. has a fifty-two week low of $223.63 and a fifty-two week high of $358.96. The stock has a market cap of $59.91 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.38 and a beta of 0.80.
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, beating the Zacks’ consensus estimate of $4.64 by $0.42. The company 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 business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.50 earnings per share. As a group, analysts anticipate that Northrop Grumman Co. will post 19.34 EPS for the current fiscal year.
In other news, VP Patrick M. Antkowiak sold 1,932 shares of Northrop Grumman stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $310.00, for a total transaction of $598,920.00. Following the sale, the vice president now owns 5,208 shares of the company’s stock, valued at $1,614,480. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Wesley G. Bush sold 50,000 shares of Northrop Grumman stock in a transaction that occurred 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 directly owns 46,275 shares in the company, valued at approximately $13,493,327.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,903 shares of company stock worth $15,484,440. Corporate insiders own 0.45% of the company’s stock.
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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