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.
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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.
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