DekaBank Deutsche Girozentrale grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 55.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 480,331 shares of the aerospace company’s stock after purchasing an additional 171,117 shares during the quarter. Northrop Grumman makes up approximately 0.8% of DekaBank Deutsche Girozentrale’s portfolio, making the stock its 24th largest holding. DekaBank Deutsche Girozentrale’s holdings in Northrop Grumman were worth $153,054,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in NOC. Trustcore Financial Services LLC acquired a new stake in shares of Northrop Grumman during the first quarter worth $27,000. Glassman Wealth Services lifted its stake in shares of 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 acquiring an additional 67 shares during the period. Truvestments Capital LLC acquired a new position in shares of Northrop Grumman in the first quarter worth approximately $28,000. Meridian Wealth Management LLC acquired a new position in shares of Northrop Grumman in the first quarter worth approximately $29,000. Finally, Field & Main Bank acquired a new position in shares of Northrop Grumman in the first quarter worth approximately $31,000. Institutional investors and hedge funds own 83.71% of the company’s stock.
NOC has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Credit Suisse Group lifted their price objective on Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and issued a $405.00 price objective (up from $355.00) on shares of Northrop Grumman in a research note on Thursday, July 25th. Barclays lifted their price objective on Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $335.00 to $418.00 in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $345.93.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, beating analysts’ consensus estimates of $4.64 by $0.42. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.41 billion. During the same quarter in the prior year, the firm earned $4.50 EPS. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, research analysts forecast that Northrop Grumman Co. will post 19.63 earnings per share for the current fiscal year.
In other news, VP Patrick M. Antkowiak sold 1,932 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $310.00, for a total transaction of $598,920.00. Following the transaction, the vice president now owns 5,208 shares of the company’s stock, valued at approximately $1,614,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher T. Jones sold 5,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $353.19, for a total value of $1,765,950.00. Following the transaction, the vice president now directly owns 67,422 shares in the company, valued at approximately $23,812,776.18. The disclosure for this sale can be found here. Insiders have sold a total of 14,740 shares of company stock worth $5,087,496 in the last ninety days. Insiders own 0.45% of the company’s stock.
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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