Northwestern Mutual Wealth Management Co. raised its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 12.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,054 shares of the aerospace company’s stock after buying an additional 655 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Northrop Grumman were worth $1,921,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Summit X LLC increased its stake in shares of Northrop Grumman by 22.4% in the third quarter. Summit X LLC now owns 1,753 shares of the aerospace company’s stock worth $558,000 after purchasing an additional 321 shares in the last quarter. Synovus Financial Corp grew its stake in Northrop Grumman by 53.9% during the third quarter. Synovus Financial Corp now owns 2,048 shares of the aerospace company’s stock valued at $650,000 after acquiring an additional 717 shares in the last quarter. Cognios Capital LLC purchased a new position in Northrop Grumman during the third quarter valued at $1,781,000. US Bancorp DE grew its stake in Northrop Grumman by 8.9% during the third quarter. US Bancorp DE now owns 50,530 shares of the aerospace company’s stock valued at $16,036,000 after acquiring an additional 4,131 shares in the last quarter. Finally, Moody National Bank Trust Division grew its stake in Northrop Grumman by 595.4% during the third quarter. Moody National Bank Trust Division now owns 47,472 shares of the aerospace company’s stock valued at $15,066,000 after acquiring an additional 40,645 shares in the last quarter. 82.16% of the stock is owned by institutional investors and hedge funds.
In other Northrop Grumman news, VP Shawn N. Purvis sold 1,565 shares of the stock in a transaction on Monday, October 29th. The shares were sold at an average price of $273.39, for a total transaction of $427,855.35. Following the completion of the transaction, the vice president now owns 4,326 shares in the company, valued at $1,182,685.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark A. Caylor sold 4,543 shares of the stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $297.45, for a total transaction of $1,351,315.35. Following the transaction, the vice president now owns 24,592 shares of the company’s stock, valued at approximately $7,314,890.40. The disclosure for this sale can be found here. Insiders have sold 33,557 shares of company stock valued at $10,005,222 in the last quarter. 0.62% of the stock is owned by company insiders.
NOC stock opened at $285.73 on Friday. Northrop Grumman Co. has a 52 week low of $251.66 and a 52 week high of $360.88. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.17. The firm has a market cap of $49.64 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $6.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.35 by $2.19. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The business had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.99 billion. During the same quarter last year, the business earned $3.67 earnings per share. Northrop Grumman’s quarterly revenue was up 23.1% compared to the same quarter last year. Research analysts anticipate that Northrop Grumman Co. will post 19.06 EPS for the current fiscal year.
Several equities analysts recently weighed in on the stock. ValuEngine raised shares of Northrop Grumman from a “sell” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus reaffirmed a “hold” rating and set a $300.00 target price on shares of Northrop Grumman in a research note on Thursday, July 26th. Goldman Sachs Group cut their target price on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a research note on Thursday, July 26th. Credit Suisse Group cut 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 note on Friday, July 27th. Finally, Buckingham Research raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and raised their target price for the company from $246.00 to $371.00 in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $357.18.
Northrop Grumman Company 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.
See Also: Hedge Funds Explained
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.