Quadrant Capital Group LLC boosted its holdings in Northrop Grumman Co. (NYSE:NOC) by 20.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,204 shares of the aerospace company’s stock after purchasing an additional 206 shares during the period. Quadrant Capital Group LLC’s holdings in Northrop Grumman were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. CHURCHILL MANAGEMENT Corp acquired a new position in Northrop Grumman in the second quarter worth $9,784,000. Sciencast Management LP acquired a new position in Northrop Grumman in the first quarter worth $2,442,000. Trust Co. of Toledo NA OH acquired a new position in Northrop Grumman in the first quarter worth $231,000. Virtu Financial LLC acquired a new position in Northrop Grumman in the first quarter worth $2,041,000. Finally, First Personal Financial Services boosted its stake in Northrop Grumman by 6.5% in the first quarter. First Personal Financial Services now owns 658 shares of the aerospace company’s stock worth $177,000 after purchasing an additional 40 shares in the last quarter. 83.89% of the stock is currently owned by institutional investors.
Shares of NOC stock traded up $3.77 on Monday, hitting $344.94. 392,522 shares of the stock were exchanged, compared to its average volume of 814,385. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15. The stock has a market cap of $57.72 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.40 and a beta of 0.81. The business has a 50-day moving average of $327.01. Northrop Grumman Co. has a fifty-two week low of $223.63 and a fifty-two week high of $358.96.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping the consensus estimate of $4.64 by $0.42. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.41 billion. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. Northrop Grumman’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.50 earnings per share. As a group, equities research analysts expect that Northrop Grumman Co. will post 19.6 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on the company. Sanford C. Bernstein upped their price target on Northrop Grumman from $344.00 to $368.00 in a research note on Thursday, July 25th. Barclays upped their price target on Northrop Grumman from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Robert W. Baird upped their price target on Northrop Grumman from $300.00 to $364.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Morgan Stanley upped their price target on Northrop Grumman from $308.00 to $335.00 and gave the company an “equal weight” rating in a research note on Friday, June 14th. Finally, UBS Group upped their price target on Northrop Grumman from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Northrop Grumman has an average rating of “Buy” and an average price target of $340.40.
In other news, Director Madeleine Kleiner sold 971 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $315.16, for a total transaction of $306,020.36. Following the completion of the transaction, the director now directly owns 16,675 shares of the company’s stock, valued at $5,255,293. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $598,920.00. Following the transaction, 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. Insiders have sold 14,740 shares of company stock valued at $5,087,496 over the last ninety days. 0.45% of the stock is owned by insiders.
Northrop Grumman Company 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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