Canal Capital Management LLC boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 55.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,876 shares of the aerospace company’s stock after acquiring an additional 1,031 shares during the quarter. Canal Capital Management LLC’s holdings in Northrop Grumman were worth $704,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc increased its position in shares of Northrop Grumman by 1.3% in the third quarter. Vanguard Group Inc now owns 13,591,668 shares of the aerospace company’s stock valued at $4,313,588,000 after buying an additional 176,809 shares in the last quarter. BlackRock Inc. increased its position in shares of Northrop Grumman by 1.0% in the third quarter. BlackRock Inc. now owns 12,844,593 shares of the aerospace company’s stock valued at $4,076,488,000 after buying an additional 125,967 shares in the last quarter. Capital World Investors increased its position in shares of Northrop Grumman by 40.4% in the third quarter. Capital World Investors now owns 4,751,070 shares of the aerospace company’s stock valued at $1,507,847,000 after buying an additional 1,367,045 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Northrop Grumman by 15.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,716,917 shares of the aerospace company’s stock valued at $1,497,008,000 after buying an additional 614,356 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Northrop Grumman by 67.0% in the third quarter. Capital International Investors now owns 4,525,421 shares of the aerospace company’s stock valued at $1,436,233,000 after buying an additional 1,816,321 shares in the last quarter. Institutional investors own 87.31% of the company’s stock.

Shares of NOC opened at $280.62 on Monday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.17 and a quick ratio of 1.09. Northrop Grumman Co. has a one year low of $223.63 and a one year high of $360.88. The company has a market cap of $47.63 billion, a P/E ratio of 13.16, a PEG ratio of 1.24 and a beta of 0.89.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 31st. The aerospace company reported $4.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.45 by $0.48. Northrop Grumman had a return on equity of 41.24% and a net margin of 9.73%. The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the previous year, the business earned $2.82 earnings per share. As a group, equities analysts predict that Northrop Grumman Co. will post 18.98 EPS for the current year.

Northrop Grumman announced that its Board of Directors has approved a stock buyback program on Tuesday, December 4th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

A number of analysts have recently commented on the company. Wells Fargo & Co cut their price objective on Northrop Grumman from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. ValuEngine upgraded Northrop Grumman from a “sell” rating to a “hold” rating in a research report on Saturday, November 10th. Cowen restated a “hold” rating and issued a $300.00 price objective on shares of Northrop Grumman in a research report on Thursday, January 31st. Drexel Hamilton set a $335.00 price objective on Northrop Grumman and gave the company a “buy” rating in a research report on Saturday. Finally, Goldman Sachs Group cut Northrop Grumman from a “conviction-buy” rating to a “buy” rating in a research report on Friday, February 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Northrop Grumman presently has a consensus rating of “Buy” and an average target price of $336.94.

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Northrop Grumman 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.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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