Wells Fargo & Company MN Buys 2,067 Shares of Northrop Grumman Co. (NOC)

Wells Fargo & Company MN boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.2% during the third quarter, HoldingsChannel reports. The firm owned 1,173,163 shares of the aerospace company’s stock after purchasing an additional 2,067 shares during the quarter. Wells Fargo & Company MN’s holdings in Northrop Grumman were worth $372,325,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Northrop Grumman during the second quarter valued at about $114,000. Meeder Asset Management Inc. bought a new stake in Northrop Grumman during the second quarter valued at about $115,000. Fort L.P. bought a new stake in Northrop Grumman during the second quarter valued at about $117,000. WESPAC Advisors SoCal LLC bought a new stake in Northrop Grumman during the third quarter valued at about $126,000. Finally, Kaizen Advisory LLC boosted its position in Northrop Grumman by 156.2% during the second quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock valued at $133,000 after purchasing an additional 264 shares in the last quarter. 82.16% of the stock is currently owned by institutional investors.

In other news, VP Lesley A. Kalan sold 1,065 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $300.02, for a total value of $319,521.30. Following the completion of the transaction, the vice president now directly owns 13,656 shares in the company, valued at $4,097,073.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Wesley G. Bush sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $274.73, for a total value of $2,747,300.00. Following the completion of the transaction, the chairman now owns 9,600 shares of the company’s stock, valued at $2,637,408. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,750 shares of company stock valued at $9,779,262. Company insiders own 0.62% of the company’s stock.

NOC has been the subject of a number of research analyst reports. UBS Group initiated coverage on Northrop Grumman in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 price target for the company. Zacks Investment Research cut Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 26th. Citigroup decreased their price target on Northrop Grumman from $370.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, October 25th. Jefferies Financial Group decreased their price target on Northrop Grumman from $400.00 to $324.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Finally, JPMorgan Chase & Co. decreased their price target on Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $357.18.

Northrop Grumman stock opened at $282.74 on Wednesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.17. Northrop Grumman Co. has a one year low of $251.66 and a one year high of $360.88. The stock has a market capitalization of $47.54 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $2.19. Northrop Grumman had a return on equity of 38.27% and a net margin of 9.62%. The firm had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.99 billion. During the same period last year, the business posted $3.67 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, equities analysts predict that Northrop Grumman Co. will post 19.06 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Wells Fargo & Company MN Buys 2,067 Shares of Northrop Grumman Co. (NOC)” was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another domain, it was stolen and republished in violation of US & international copyright and trademark laws. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2018/11/07/wells-fargo-company-mn-buys-2067-shares-of-northrop-grumman-co-noc.html.

Northrop Grumman Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

Further Reading: Day Trading – Risk Worth the Reward?

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC).

Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply