Lyell Wealth Management LP increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 11.1% during the second quarter, HoldingsChannel.com reports. The fund owned 14,526 shares of the aerospace company’s stock after acquiring an additional 1,449 shares during the period. Northrop Grumman makes up approximately 1.4% of Lyell Wealth Management LP’s holdings, making the stock its 28th largest holding. Lyell Wealth Management LP’s holdings in Northrop Grumman were worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. CHURCHILL MANAGEMENT Corp bought a new stake in Northrop Grumman during the 2nd quarter worth approximately $9,784,000. Trust Co. of Toledo NA OH bought a new position in shares of Northrop Grumman in the 1st quarter worth $231,000. First Personal Financial Services increased its holdings in shares of Northrop Grumman by 6.5% in the 1st quarter. First Personal Financial Services now owns 658 shares of the aerospace company’s stock worth $177,000 after buying an additional 40 shares during the last quarter. Brinker Capital Inc. increased its holdings in shares of Northrop Grumman by 40.1% in the 1st quarter. Brinker Capital Inc. now owns 33,347 shares of the aerospace company’s stock worth $8,990,000 after buying an additional 9,544 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Northrop Grumman by 1.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 245,284 shares of the aerospace company’s stock worth $66,128,000 after buying an additional 2,777 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Patrick M. Antkowiak sold 1,932 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $310.00, for a total value of $598,920.00. Following the completion of the sale, the vice president now owns 5,208 shares of the company’s stock, valued at approximately $1,614,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Madeleine Kleiner sold 971 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $315.16, for a total transaction of $306,020.36. Following the completion of the sale, the director now directly owns 16,675 shares of the company’s stock, valued at approximately $5,255,293. The disclosure for this sale can be found here. Insiders sold a total of 14,740 shares of company stock valued at $5,087,496 in the last ninety days. 0.45% of the stock is owned by corporate insiders.
A number of brokerages have recently commented on NOC. Credit Suisse Group increased their price target on shares of Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America reissued a “buy” rating and issued a $405.00 price target (up previously from $355.00) on shares of Northrop Grumman in a report on Thursday, July 25th. Barclays increased their price target on shares of Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 30th. Finally, Robert W. Baird increased their price target on shares of Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $345.93.
Shares of Northrop Grumman stock traded down $7.62 during trading on Wednesday, reaching $363.04. The company’s stock had a trading volume of 36,158 shares, compared to its average volume of 933,022. Northrop Grumman Co. has a 52-week low of $223.63 and a 52-week high of $377.34. The company has a market cap of $62.69 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The firm has a 50-day simple moving average of $336.94. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 1.62.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $8.41 billion. During the same quarter in the prior year, the company earned $4.50 EPS. The firm’s revenue was up 18.8% on a year-over-year basis. As a group, analysts predict that Northrop Grumman Co. will post 19.63 EPS for the current fiscal year.
About Northrop Grumman
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.
Further Reading: What is the Difference Between Common Shares and Convertible Shares?
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).
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.