TD Asset Management Inc. increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 10.7% in the third quarter, HoldingsChannel reports. The firm owned 130,836 shares of the aerospace company’s stock after purchasing an additional 12,605 shares during the period. TD Asset Management Inc.’s holdings in Northrop Grumman were worth $41,523,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in NOC. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth about $114,000. Meeder Asset Management Inc. acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth about $115,000. Fort L.P. acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth about $117,000. WESPAC Advisors SoCal LLC acquired a new stake in shares of Northrop Grumman during the 3rd quarter worth about $126,000. Finally, Kaizen Advisory LLC increased its position in shares of Northrop Grumman by 156.2% during the 2nd quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock worth $133,000 after purchasing an additional 264 shares in the last quarter. Institutional investors and hedge funds own 82.16% of the company’s stock.
A number of brokerages recently issued reports on NOC. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 target price for the company in a research report on Thursday, October 11th. Credit Suisse Group dropped their target price on shares of Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating for the company in a research report on Friday, July 27th. JPMorgan Chase & Co. dropped their target price on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Goldman Sachs Group lowered their price objective on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a research report on Thursday, July 26th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $300.00 price objective on shares of Northrop Grumman in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $357.18.
NOC opened at $284.03 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $49.09 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.06 and a beta of 0.83. Northrop Grumman Co. has a 1-year low of $251.66 and a 1-year high of $360.88.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share for the quarter, beating the consensus estimate of $4.35 by $2.19. The firm had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.67 EPS. As a group, equities research analysts forecast that Northrop Grumman Co. will post 19.06 EPS for the current year.
In other news, VP Shawn N. Purvis sold 1,565 shares of the firm’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $273.39, for a total value of $427,855.35. Following the transaction, the vice president now owns 4,326 shares of the company’s stock, valued at approximately $1,182,685.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lesley A. Kalan sold 1,065 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $300.02, for a total transaction of $319,521.30. Following the completion of the transaction, the vice president now directly owns 13,656 shares in the company, valued at approximately $4,097,073.12. The disclosure for this sale can be found here. Insiders sold a total of 33,557 shares of company stock worth $10,005,222 in the last ninety days. Insiders own 0.62% of the company’s stock.
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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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