Advisory Services Network LLC increased its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 147.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,023 shares of the aerospace company’s stock after buying an additional 1,207 shares during the quarter. Advisory Services Network LLC’s holdings in Northrop Grumman Corporation were worth $519,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Beaton Management Co. Inc. bought a new position in Northrop Grumman Corporation in the 2nd quarter valued at $1,008,000. WINTON GROUP Ltd grew its stake in Northrop Grumman Corporation by 26.8% in the 2nd quarter. WINTON GROUP Ltd now owns 227,862 shares of the aerospace company’s stock valued at $58,494,000 after purchasing an additional 48,098 shares during the period. Colony Group LLC grew its stake in Northrop Grumman Corporation by 0.5% in the 2nd quarter. Colony Group LLC now owns 51,059 shares of the aerospace company’s stock valued at $13,107,000 after purchasing an additional 260 shares during the period. Koch Industries Inc. grew its stake in shares of Northrop Grumman Corporation by 21,654.4% during the 2nd quarter. Koch Industries Inc. now owns 207,972 shares of the aerospace company’s stock worth $207,000 after acquiring an additional 207,016 shares during the period. Finally, National Asset Management Inc. bought a new position in shares of Northrop Grumman Corporation during the 2nd quarter worth $205,000. Institutional investors and hedge funds own 81.26% of the company’s stock.
Shares of Northrop Grumman Corporation (NYSE NOC) traded down 0.11% during midday trading on Friday, hitting $297.66. The stock had a trading volume of 643,117 shares. The company has a market cap of $51.82 billion, a PE ratio of 22.74 and a beta of 0.68. Northrop Grumman Corporation has a 52-week low of $220.72 and a 52-week high of $306.61. The company’s 50 day moving average is $284.91 and its 200 day moving average is $264.95.
Northrop Grumman Corporation (NYSE:NOC) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.76. The business had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Northrop Grumman Corporation had a net margin of 9.24% and a return on equity of 39.76%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.35 earnings per share. On average, analysts anticipate that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.
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Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $309.00 price target for the company in a research note on Wednesday, September 20th. Deutsche Bank AG reissued a “buy” rating and set a $325.00 price objective (up previously from $285.00) on shares of Northrop Grumman Corporation in a report on Monday, October 2nd. Argus increased their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Morgan Stanley assumed coverage on Northrop Grumman Corporation in a report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective on the stock. Finally, Royal Bank Of Canada raised their price target on Northrop Grumman Corporation from $324.00 to $347.00 and gave the company an “outperform” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $290.54.
In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the transaction, the vice president now directly owns 961 shares in the company, valued at $252,983.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.70% of the company’s stock.
Northrop Grumman Corporation Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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