23,453 Shares in Northrop Grumman Co. (NYSE:NOC) Bought by Westside Investment Management Inc.

Westside Investment Management Inc. purchased a new position in Northrop Grumman Co. (NYSE:NOC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,453 shares of the aerospace company’s stock, valued at approximately $2,882,118,000. Northrop Grumman comprises 6.4% of Westside Investment Management Inc.’s investment portfolio, making the stock its 2nd largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in NOC. Patten Group Inc. boosted its stake in Northrop Grumman by 1.2% during the second quarter. Patten Group Inc. now owns 2,522 shares of the aerospace company’s stock worth $815,000 after buying an additional 31 shares during the period. Moors & Cabot Inc. boosted its stake in Northrop Grumman by 1.0% during the second quarter. Moors & Cabot Inc. now owns 3,418 shares of the aerospace company’s stock worth $1,101,000 after buying an additional 33 shares during the period. SVA Plumb Wealth Management LLC boosted its stake in Northrop Grumman by 2.5% during the first quarter. SVA Plumb Wealth Management LLC now owns 1,433 shares of the aerospace company’s stock worth $386,000 after buying an additional 35 shares during the period. Cornerstone Advisors Inc. boosted its stake in Northrop Grumman by 18.3% during the second quarter. Cornerstone Advisors Inc. now owns 233 shares of the aerospace company’s stock worth $75,000 after buying an additional 36 shares during the period. Finally, Kistler Tiffany Companies LLC boosted its stake in Northrop Grumman by 29.1% during the second quarter. Kistler Tiffany Companies LLC now owns 164 shares of the aerospace company’s stock worth $53,000 after buying an additional 37 shares during the period. Institutional investors own 83.61% of the company’s stock.

In related news, CEO Kathy J. Warden sold 6,837 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $353.46, for a total value of $2,416,606.02. Following the completion of the sale, the chief executive officer now directly owns 99,002 shares of the company’s stock, valued at $34,993,246.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Patrick M. Antkowiak sold 1,932 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $310.00, for a total transaction of $598,920.00. Following the completion of the sale, the vice president now directly owns 5,208 shares of the company’s stock, valued at $1,614,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,740 shares of company stock valued at $5,087,496. 0.45% of the stock is owned by insiders.

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein boosted their target price on shares of Northrop Grumman from $344.00 to $368.00 in a research note on Thursday, July 25th. Robert W. Baird boosted their target price on shares of Northrop Grumman from $300.00 to $364.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Bank of America reissued a “buy” rating and set a $405.00 target price (up from $355.00) on shares of Northrop Grumman in a research note on Thursday, July 25th. UBS Group boosted their target price on shares of Northrop Grumman from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Northrop Grumman has an average rating of “Buy” and an average price target of $340.40.

Shares of NOC traded down $3.86 during trading hours on Friday, reaching $341.16. 621,699 shares of the company traded hands, compared to its average volume of 814,385. The stock has a market capitalization of $58.38 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.42 and a beta of 0.81. Northrop Grumman Co. has a 12-month low of $223.63 and a 12-month high of $358.96. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 1.62. The stock has a fifty day moving average of $327.01.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.64 by $0.42. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.41 billion. During the same period in the prior year, the firm earned $4.50 earnings per share. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts expect that Northrop Grumman Co. will post 19.6 earnings per share for the current year.

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.

Recommended Story: What is an overbought condition?

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.