Lester Murray Antman dba SimplyRich purchased a new stake in shares of Northrop Grumman Co. (NYSE:NOC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,067 shares of the aerospace company’s stock, valued at approximately $991,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOC. Massey Quick Simon & CO. LLC acquired a new position in shares of Northrop Grumman during the second quarter valued at approximately $27,000. Trustcore Financial Services LLC acquired a new position in Northrop Grumman in the first quarter worth approximately $27,000. Glassman Wealth Services grew its position in Northrop Grumman by 203.0% in the first quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock worth $27,000 after buying an additional 67 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in Northrop Grumman in the first quarter worth approximately $29,000. Finally, Kavar Capital Partners LLC acquired a new position in Northrop Grumman in the second quarter worth approximately $36,000. 83.13% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on the stock. Credit Suisse Group raised their price objective on shares of Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. ValuEngine raised shares of Northrop Grumman from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Robert W. Baird raised their price objective on shares of Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Bank of America reaffirmed a “buy” rating and issued a $405.00 price objective (up previously from $355.00) on shares of Northrop Grumman in a research note on Thursday, July 25th. Finally, UBS Group raised their price objective on shares of Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Northrop Grumman currently has an average rating of “Buy” and a consensus target price of $345.93.

In other Northrop Grumman news, CEO Kathy J. Warden sold 6,837 shares of Northrop Grumman stock in a transaction on Monday, July 29th. The shares were sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the completion of the sale, the chief executive officer now owns 99,002 shares of the company’s stock, valued at approximately $34,993,246.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Madeleine Kleiner sold 971 shares of Northrop Grumman stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $315.16, for a total transaction of $306,020.36. Following the sale, the director now directly owns 16,675 shares of the company’s stock, valued at approximately $5,255,293. The disclosure for this sale can be found here. Insiders have sold a total of 12,808 shares of company stock valued at $4,488,576 in the last three months. Company insiders own 0.45% of the company’s stock.

Shares of NYSE:NOC traded up $1.54 during trading on Tuesday, reaching $371.62. 10,634 shares of the company traded hands, compared to its average volume of 1,035,325. The firm has a fifty day simple moving average of $342.36 and a 200 day simple moving average of $303.60. The firm has a market cap of $62.46 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. Northrop Grumman Co. has a 1-year low of $223.63 and a 1-year high of $377.34. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.64 by $0.42. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.41 billion. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the business posted $4.50 EPS. As a group, research analysts anticipate that Northrop Grumman Co. will post 19.63 EPS for the current year.

About Northrop Grumman

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

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