Whittier Trust Co. of Nevada Inc. increased its stake in Northrop Grumman Corporation (NYSE:NOC) by 19.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590 shares of the aerospace company’s stock after buying an additional 95 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Northrop Grumman Corporation were worth $151,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Gulf International Bank UK Ltd raised its position in shares of Northrop Grumman Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 52,623 shares of the aerospace company’s stock valued at $12,515,000 after buying an additional 725 shares in the last quarter. Stock Yards Bank & Trust Co. raised its position in shares of Northrop Grumman Corporation by 87.4% in the first quarter. Stock Yards Bank & Trust Co. now owns 1,672 shares of the aerospace company’s stock valued at $398,000 after buying an additional 780 shares in the last quarter. Creative Planning raised its position in shares of Northrop Grumman Corporation by 2.1% in the first quarter. Creative Planning now owns 16,808 shares of the aerospace company’s stock valued at $3,998,000 after buying an additional 341 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Northrop Grumman Corporation by 16.1% in the first quarter. Raymond James Trust N.A. now owns 4,610 shares of the aerospace company’s stock valued at $1,097,000 after buying an additional 639 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of Northrop Grumman Corporation by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 153,788 shares of the aerospace company’s stock valued at $36,576,000 after buying an additional 3,252 shares in the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.
Shares of Northrop Grumman Corporation (NYSE NOC) traded up 0.17% during midday trading on Friday, hitting $269.24. 653,027 shares of the stock were exchanged. Northrop Grumman Corporation has a 12-month low of $206.69 and a 12-month high of $269.24. The firm has a market cap of $46.89 billion, a P/E ratio of 20.57 and a beta of 0.66. The firm has a 50 day moving average of $261.05 and a 200 day moving average of $247.53.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the firm earned $2.85 earnings per share. Northrop Grumman Corporation’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts forecast that Northrop Grumman Corporation will post $12.56 EPS for the current fiscal year.
Several equities analysts have recently commented on the stock. Argus upped their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday. Cowen and Company restated a “hold” rating and issued a $275.00 price objective on shares of Northrop Grumman Corporation in a report on Monday, July 17th. BidaskClub lowered shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Deutsche Bank AG restated a “buy” rating and issued a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $255.00 price objective (up from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $258.47.
In other news, VP Sid Ashworth sold 3,847 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the transaction, the vice president now directly owns 69,458 shares of the company’s stock, valued at $18,059,080. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas E. Vice sold 29,740 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $250.00, for a total transaction of $7,435,000.00. Following the transaction, the vice president now directly owns 72,453 shares in the company, valued at $18,113,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,954 shares of company stock valued at $8,531,833. 0.70% of the stock is owned by insiders.
Northrop Grumman Corporation Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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