Hudson Valley Investment Advisors Inc. ADV reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 11.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,467 shares of the aerospace company’s stock after selling 450 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Northrop Grumman were worth $1,120,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Thoroughbred Financial Services LLC grew its stake in Northrop Grumman by 30,736.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 785,405 shares of the aerospace company’s stock valued at $78,540,000 after buying an additional 782,858 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Northrop Grumman by 354.2% during the 1st quarter. SG Americas Securities LLC now owns 158,112 shares of the aerospace company’s stock worth $42,627,000 after acquiring an additional 123,300 shares during the period. Ellis Investment Partners LLC bought a new stake in shares of Northrop Grumman during the 1st quarter worth approximately $111,000. Clark Capital Management Group Inc. bought a new stake in shares of Northrop Grumman during the 1st quarter worth approximately $22,115,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Northrop Grumman by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 2,002,473 shares of the aerospace company’s stock worth $489,450,000 after acquiring an additional 56,098 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.
In related news, 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 value of $306,020.36. Following the transaction, the director now directly owns 16,675 shares of the company’s stock, valued at $5,255,293. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kathy J. Warden sold 6,837 shares of Northrop Grumman stock in a transaction on Monday, July 29th. The stock was sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the completion of the transaction, the chief executive officer now directly owns 99,002 shares in the company, valued at $34,993,246.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,740 shares of company stock valued at $5,087,496. Company insiders own 0.45% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein upped their price objective on shares of Northrop Grumman from $344.00 to $368.00 in a research report on Thursday, July 25th. UBS Group upped their price objective on shares of Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. ValuEngine upgraded shares of Northrop Grumman from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Barclays upped their price target on shares of Northrop Grumman from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Finally, Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $345.93.
Northrop Grumman stock opened at $365.22 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 1.62. The firm’s fifty day moving average price is $338.57 and its two-hundred day moving average price is $302.27. Northrop Grumman Co. has a 1-year low of $223.63 and a 1-year high of $377.34. The firm has a market capitalization of $62.72 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping the consensus estimate of $4.64 by $0.42. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate 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 was up 18.8% on a year-over-year basis. During the same quarter last year, the company earned $4.50 earnings per share. On average, research analysts forecast that Northrop Grumman Co. will post 19.63 EPS for the current year.
Northrop Grumman Profile
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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