First Mercantile Trust Co. grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 33.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 928 shares of the aerospace company’s stock after acquiring an additional 234 shares during the period. First Mercantile Trust Co.’s holdings in Northrop Grumman were worth $347,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NOC. Rockland Trust Co. acquired a new stake in Northrop Grumman during the 2nd quarter worth approximately $258,000. Cooper Financial Group acquired a new stake in Northrop Grumman during the 2nd quarter worth approximately $223,000. Crossmark Global Holdings Inc. lifted its holdings in Northrop Grumman by 1.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 4,307 shares of the aerospace company’s stock worth $1,392,000 after purchasing an additional 75 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in Northrop Grumman by 0.9% during the 2nd quarter. Retirement Systems of Alabama now owns 176,965 shares of the aerospace company’s stock worth $57,179,000 after purchasing an additional 1,543 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust lifted its holdings in Northrop Grumman by 25.0% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 2,000 shares of the aerospace company’s stock worth $646,000 after purchasing an additional 400 shares during the last quarter. 83.34% of the stock is owned by institutional investors.
Northrop Grumman stock opened at $350.11 on Friday. The stock’s fifty day moving average price is $359.47 and its two-hundred day moving average price is $337.22. Northrop Grumman Co. has a one year low of $223.63 and a one year high of $383.89. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.29 and a quick ratio of 1.19. The firm has a market cap of $56.94 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.27 and a beta of 0.78.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $5.49 EPS for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.75. Northrop Grumman had a return on equity of 39.12% and a net margin of 9.05%. The firm had revenue of $8.48 billion for the quarter, compared to analyst estimates of $8.56 billion. During the same quarter last year, the company earned $6.54 EPS. The company’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts expect that Northrop Grumman Co. will post 20.38 earnings per share for the current fiscal year.
NOC has been the subject of several research reports. Morgan Stanley lifted their price target on Northrop Grumman from $418.00 to $437.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 price target for the company in a report on Tuesday, September 10th. Barclays set a $415.00 price target on Northrop Grumman and gave the stock a “buy” rating in a report on Tuesday, October 8th. Sanford C. Bernstein lifted their price target on Northrop Grumman from $374.00 to $385.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Finally, ValuEngine raised Northrop Grumman from a “strong sell” rating to a “sell” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Northrop Grumman has a consensus rating of “Buy” and a consensus price target of $365.08.
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.
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