LPL Financial LLC Buys 6,101 Shares of Northrop Grumman Co. (NYSE:NOC)

LPL Financial LLC boosted its stake in Northrop Grumman Co. (NYSE:NOC) by 5.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 116,116 shares of the aerospace company’s stock after acquiring an additional 6,101 shares during the quarter. LPL Financial LLC’s holdings in Northrop Grumman were worth $42,200,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NOC. FMR LLC increased its position in Northrop Grumman by 25.5% in the 2nd quarter. FMR LLC now owns 4,798,182 shares of the aerospace company’s stock valued at $1,743,803,000 after acquiring an additional 974,433 shares during the period. Price T Rowe Associates Inc. MD increased its position in Northrop Grumman by 68.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,248,638 shares of the aerospace company’s stock valued at $404,109,000 after acquiring an additional 506,032 shares during the period. Nuance Investments LLC increased its position in Northrop Grumman by 1,026.9% in the 1st quarter. Nuance Investments LLC now owns 550,922 shares of the aerospace company’s stock valued at $178,300,000 after acquiring an additional 502,033 shares during the period. Bessemer Group Inc. increased its position in Northrop Grumman by 226.2% in the 2nd quarter. Bessemer Group Inc. now owns 584,872 shares of the aerospace company’s stock valued at $212,560,000 after acquiring an additional 405,582 shares during the period. Finally, Allen Investment Management LLC increased its position in Northrop Grumman by 106.9% in the 2nd quarter. Allen Investment Management LLC now owns 739,906 shares of the aerospace company’s stock valued at $268,904,000 after acquiring an additional 382,377 shares during the period. 81.91% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on NOC shares. Seaport Global Securities increased their price objective on shares of Northrop Grumman from $398.00 to $419.00 and gave the stock a “buy” rating in a research report on Monday, July 19th. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $392.00 price objective for the company in a research report on Wednesday, October 6th. The Goldman Sachs Group upgraded shares of Northrop Grumman from a “sell” rating to a “neutral” rating and set a $350.00 price objective for the company in a research report on Thursday, September 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Northrop Grumman from $330.00 to $335.00 and gave the company an “underweight” rating in a research note on Monday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $395.10.

NOC opened at $388.70 on Thursday. Northrop Grumman Co. has a fifty-two week low of $282.88 and a fifty-two week high of $396.58. The company’s 50-day moving average is $363.59 and its 200 day moving average is $361.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.49 and a quick ratio of 1.39. The firm has a market capitalization of $62.23 billion, a P/E ratio of 14.03, a PEG ratio of 1.59 and a beta of 0.84.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, July 29th. The aerospace company reported $6.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.75 by $0.67. Northrop Grumman had a net margin of 12.10% and a return on equity of 39.32%. The business had revenue of $9.15 billion during the quarter, compared to the consensus estimate of $8.71 billion. On average, equities research analysts expect that Northrop Grumman Co. will post 24.83 earnings per share for the current year.

The company also recently disclosed a dividend, which was paid on Thursday, September 2nd. Investors of record on Monday, August 23rd were paid a dividend of $0.14 per share. The ex-dividend date was Friday, August 20th. This represents a yield of 0.15%. Northrop Grumman’s dividend payout ratio is currently 26.55%.

In other Northrop Grumman news, VP Mary D. Petryszyn sold 892 shares of Northrop Grumman stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $358.65, for a total transaction of $319,915.80. Following the completion of the sale, the vice president now directly owns 12,991 shares in the company, valued at $4,659,222.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas H. Jones sold 470 shares of Northrop Grumman stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $361.35, for a total transaction of $169,834.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,597 shares of company stock valued at $576,700. 0.25% of the stock is owned by corporate insiders.

Northrop Grumman Company Profile

Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.

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

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