Howe & Rusling Inc. raised its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 1,787.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,906 shares of the aerospace company’s stock after purchasing an additional 1,805 shares during the period. Howe & Rusling Inc.’s holdings in Northrop Grumman Corporation were worth $548,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOC. Harbour Capital Advisors LLC purchased a new stake in Northrop Grumman Corporation during the first quarter valued at about $108,000. Hanseatic Management Services Inc. raised its position in Northrop Grumman Corporation by 12.8% during the second quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 48 shares in the last quarter. First Personal Financial Services raised its position in Northrop Grumman Corporation by 39.0% during the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock valued at $111,000 after purchasing an additional 121 shares in the last quarter. Pittenger & Anderson Inc. raised its position in Northrop Grumman Corporation by 28.6% during the second quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock valued at $116,000 after purchasing an additional 100 shares in the last quarter. Finally, People s United Financial Inc. raised its position in Northrop Grumman Corporation by 9.2% during the second quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock valued at $122,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 81.25% of the company’s stock.
Northrop Grumman Corporation (NYSE:NOC) traded up 0.67% during mid-day trading on Friday, reaching $294.60. The company’s stock had a trading volume of 606,368 shares. The stock has a market cap of $51.29 billion, a P/E ratio of 22.50 and a beta of 0.68. The firm’s 50 day moving average is $282.24 and its 200-day moving average is $263.06. Northrop Grumman Corporation has a one year low of $214.59 and a one year high of $299.33.
Northrop Grumman Corporation (NYSE:NOC) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.31. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.85 earnings per share. Equities analysts expect that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.
NOC has been the topic of a number of research reports. Stifel Nicolaus restated a “hold” rating and set a $255.00 price target (up previously from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Deutsche Bank AG reiterated a “buy” rating and issued a $285.00 price objective (up previously from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. BidaskClub upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Royal Bank Of Canada set a $294.00 price objective on Northrop Grumman Corporation and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, Zacks Investment Research downgraded Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $276.72.
In other news, VP Lisa R. Davis sold 367 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the transaction, the vice president now directly owns 961 shares of the company’s stock, valued at $252,983.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.
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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