L & S Advisors Inc Takes $3.52 Million Position in Northrop Grumman Co. (NYSE:NOC)

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L & S Advisors Inc bought a new stake in shares of Northrop Grumman Co. (NYSE:NOC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,893 shares of the aerospace company’s stock, valued at approximately $3,520,000.

Several other institutional investors and hedge funds have also bought and sold shares of NOC. Krane Funds Advisors LLC purchased a new stake in Northrop Grumman in the second quarter worth $26,000. Trustcore Financial Services LLC purchased a new stake in Northrop Grumman in the first quarter worth $27,000. Glassman Wealth Services boosted its holdings in 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 in the last quarter. Massey Quick Simon & CO. LLC bought a new stake in Northrop Grumman in the second quarter worth $27,000. Finally, Meridian Wealth Management LLC bought a new stake in Northrop Grumman in the first quarter worth $29,000. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

NOC stock traded up $1.62 during trading on Friday, reaching $366.85. The stock had a trading volume of 84,871 shares, compared to its average volume of 671,183. Northrop Grumman Co. has a 52 week low of $223.63 and a 52 week high of $377.34. The stock’s 50 day moving average is $361.49 and its two-hundred day moving average is $313.26. 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 has a market cap of $60.08 billion, a PE ratio of 17.20, a PEG ratio of 1.45 and a beta of 0.79.

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, 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 company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same quarter in the prior year, the company earned $4.50 earnings per share. Northrop Grumman’s revenue was up 18.8% on a year-over-year basis. On average, research analysts anticipate that Northrop Grumman Co. will post 19.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, September 6th. Northrop Grumman’s dividend payout ratio is 24.75%.

NOC has been the topic of several analyst reports. UBS Group boosted their target price on Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Robert W. Baird boosted their target price on Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. ValuEngine downgraded Northrop Grumman from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 target price on the stock in a report on Tuesday. Finally, Barclays boosted their target price on Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $347.60.

In other Northrop Grumman news, CEO Kathy J. Warden sold 6,837 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $353.46, for a total value of $2,416,606.02. Following the transaction, the chief executive officer now owns 99,002 shares of the company’s stock, valued at $34,993,246.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher T. Jones sold 5,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $353.19, for a total value of $1,765,950.00. Following the completion of the sale, the vice president now owns 67,422 shares of the company’s stock, valued at approximately $23,812,776.18. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

Northrop Grumman Company 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.

See Also: Hedge Funds – Risk or Reward?

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

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