Navellier & Associates Inc acquired a new position in Northrop Grumman Co. (NYSE:NOC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 707 shares of the aerospace company’s stock, valued at approximately $229,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trustcore Financial Services LLC bought a new stake in shares of Northrop Grumman in the 1st quarter worth $27,000. Glassman Wealth Services raised its stake in shares of 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 buying an additional 67 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Northrop Grumman in the 1st quarter worth $28,000. Meridian Wealth Management LLC bought a new stake in shares of Northrop Grumman in the 1st quarter worth $29,000. Finally, Legacy Advisors LLC bought a new stake in shares of Northrop Grumman in the 1st quarter worth $30,000. 83.61% of the stock is currently owned by institutional investors.
In other news, Chairman Wesley G. Bush sold 50,000 shares of Northrop Grumman stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $291.59, for a total transaction of $14,579,500.00. Following the transaction, the chairman now owns 46,275 shares in the company, valued at $13,493,327.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Patrick M. Antkowiak sold 1,932 shares of Northrop Grumman 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 transaction, 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. Insiders have sold 52,903 shares of company stock worth $15,484,440 in the last quarter. 0.45% of the stock is currently owned by corporate insiders.
Shares of Northrop Grumman stock opened at $352.91 on Wednesday. Northrop Grumman Co. has a 12-month low of $223.63 and a 12-month high of $358.96. 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 firm has a market capitalization of $59.65 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 1.45 and a beta of 0.80. The stock’s fifty day moving average is $324.34.
Northrop Grumman (NYSE:NOC) last issued its quarterly 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 business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same quarter in the previous year, the company posted $4.50 earnings per share. Northrop Grumman’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, equities analysts anticipate that Northrop Grumman Co. will post 19.6 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on NOC shares. Morgan Stanley set a $18.00 target price on PG&E and gave the stock a “hold” rating in a research report on Friday, June 14th. 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. ValuEngine raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. UBS Group boosted their target price on Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $425.00 target price on shares of Boeing in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $342.31.
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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