Strs Ohio lowered its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,035 shares of the aerospace company’s stock after selling 19,489 shares during the quarter. Strs Ohio owned 0.11% of Northrop Grumman worth $60,311,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of NOC. Element Capital Management LLC purchased a new position in Northrop Grumman during the 1st quarter valued at $278,000. Atlantic Trust Group LLC boosted its holdings in Northrop Grumman by 3.3% during the 1st quarter. Atlantic Trust Group LLC now owns 16,788 shares of the aerospace company’s stock valued at $5,861,000 after acquiring an additional 539 shares during the period. Summit Trail Advisors LLC boosted its holdings in Northrop Grumman by 31,127.3% during the 1st quarter. Summit Trail Advisors LLC now owns 211,721 shares of the aerospace company’s stock valued at $212,000 after acquiring an additional 211,043 shares during the period. Principal Financial Group Inc. boosted its holdings in Northrop Grumman by 7.7% during the 1st quarter. Principal Financial Group Inc. now owns 434,842 shares of the aerospace company’s stock valued at $151,813,000 after acquiring an additional 31,029 shares during the period. Finally, Suntrust Banks Inc. boosted its holdings in Northrop Grumman by 16.1% during the 1st quarter. Suntrust Banks Inc. now owns 20,915 shares of the aerospace company’s stock valued at $7,300,000 after acquiring an additional 2,896 shares during the period. Institutional investors own 81.51% of the company’s stock.
A number of equities analysts recently issued reports on the company. Credit Suisse Group boosted their price objective on Northrop Grumman from $326.00 to $341.00 and gave the company a “neutral” rating in a report on Wednesday, June 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $300.00 target price on shares of Northrop Grumman in a research report on Thursday, July 26th. Goldman Sachs Group decreased their target price on Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a research report on Thursday, July 26th. Buckingham Research raised Northrop Grumman from a “neutral” rating to a “buy” rating and lifted their target price for the company from $246.00 to $371.00 in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. decreased their target price on Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $366.65.
Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.84 by $0.09. The business had revenue of $7.12 billion during the quarter, compared to analyst estimates of $7.10 billion. Northrop Grumman had a return on equity of 34.88% and a net margin of 8.33%. Northrop Grumman’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.16 EPS. Research analysts expect that Northrop Grumman Co. will post 16.88 earnings per share for the current fiscal year.
In other news, VP David T. Perry sold 4,425 shares of the business’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $300.27, for a total value of $1,328,694.75. Following the completion of the transaction, the vice president now directly owns 28,112 shares of the company’s stock, valued at approximately $8,441,190.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Sheila C. Cheston sold 10,440 shares of the business’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $320.00, for a total value of $3,340,800.00. Following the completion of the transaction, the vice president now directly owns 43,696 shares of the company’s stock, valued at $13,982,720. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,052 shares of company stock valued at $14,323,601. Corporate insiders own 0.62% of the company’s stock.
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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