Concert Wealth Management Inc. boosted its stake in shares of Northrop Grumman Corp. (NYSE:NOC) by 3.4% during the second quarter, Holdings Channel reports. The firm owned 1,067 shares of the company’s stock after buying an additional 35 shares during the period. Concert Wealth Management Inc.’s holdings in Northrop Grumman Corp. were worth $238,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of NOC. Wellington Management Group LLP boosted its position in Northrop Grumman Corp. by 21.7% in the first quarter. Wellington Management Group LLP now owns 3,362,671 shares of the company’s stock valued at $665,472,000 after buying an additional 600,388 shares during the period. Geode Capital Management LLC raised its stake in Northrop Grumman Corp. by 4.5% in the first quarter. Geode Capital Management LLC now owns 1,503,650 shares of the company’s stock valued at $296,989,000 after buying an additional 64,702 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Northrop Grumman Corp. during the first quarter valued at $77,676,000. Bank of Montreal Can bought a new stake in Northrop Grumman Corp. during the second quarter valued at $76,299,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in Northrop Grumman Corp. by 5.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 337,388 shares of the company’s stock valued at $74,996,000 after buying an additional 17,255 shares in the last quarter. 82.52% of the stock is owned by hedge funds and other institutional investors.
Northrop Grumman Corp. (NYSE:NOC) traded up 0.25% on Friday, hitting $218.92. The stock had a trading volume of 923,428 shares. The company’s 50 day moving average is $213.81 and its 200-day moving average is $213.36. Northrop Grumman Corp. has a 1-year low of $172.87 and a 1-year high of $224.12. The firm has a market capitalization of $39.09 billion, a price-to-earnings ratio of 19.69 and a beta of 0.72.
Northrop Grumman Corp. (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 27th. The company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.32. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. The company earned $6 billion during the quarter, compared to the consensus estimate of $5.99 billion. During the same period in the previous year, the business earned $2.54 earnings per share. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, analysts forecast that Northrop Grumman Corp. will post $11.04 EPS for the current year.
NOC has been the topic of several analyst reports. Zacks Investment Research lowered Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. JPMorgan Chase & Co. lowered Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $225.00 to $231.00 in a research note on Thursday, August 25th. Jefferies Group upped their price objective on Northrop Grumman Corp. from $233.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Argus reiterated a “buy” rating on shares of Northrop Grumman Corp. in a research note on Tuesday, August 2nd. Finally, Robert W. Baird initiated coverage on Northrop Grumman Corp. in a research note on Wednesday, October 5th. They issued an “outperform” rating and a $260.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $223.97.
In other news, CEO Wesley G. Bush sold 35,000 shares of Northrop Grumman Corp. stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $218.45, for a total value of $7,645,750.00. Following the completion of the sale, the chief executive officer now directly owns 35,000 shares in the company, valued at $7,645,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Thomas E. Vice sold 20,997 shares of Northrop Grumman Corp. stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $217.94, for a total transaction of $4,576,086.18. Following the completion of the transaction, the vice president now directly owns 82,496 shares in the company, valued at $17,979,178.24. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
About Northrop Grumman Corp.
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.