JLB & Associates Inc. Grows Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

JLB & Associates Inc. lifted its holdings in Northrop Grumman Co. (NYSE:NOC) by 27.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,460 shares of the aerospace company’s stock after acquiring an additional 4,772 shares during the quarter. JLB & Associates Inc.’s holdings in Northrop Grumman were worth $7,085,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Campbell Wealth Management acquired a new stake in Northrop Grumman during the 2nd quarter worth about $25,000. Bay Harbor Wealth Management LLC purchased a new position in Northrop Grumman during the first quarter valued at approximately $25,000. Hoover Financial Advisors Inc. acquired a new position in Northrop Grumman in the second quarter valued at approximately $46,000. Banco de Sabadell S.A purchased a new stake in Northrop Grumman in the 2nd quarter worth approximately $57,000. Finally, Financial Management Professionals Inc. acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth approximately $58,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on NOC. Royal Bank of Canada raised shares of Northrop Grumman from a “sector perform” rating to an “outperform” rating and set a $391.00 price target on the stock in a report on Tuesday, October 6th. Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $334.00 target price on the stock in a research report on Thursday, October 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $375.00 price target on shares of Northrop Grumman in a report on Thursday, June 25th. TheStreet raised Northrop Grumman from a “c” rating to a “b-” rating in a report on Monday, August 10th. Finally, Sanford C. Bernstein upped their target price on Northrop Grumman from $405.00 to $419.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $392.00.

Shares of NOC traded up $1.42 during trading hours on Friday, hitting $316.24. 1,393,687 shares of the stock were exchanged, compared to its average volume of 998,336. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.27 and a current ratio of 1.35. Northrop Grumman Co. has a 12-month low of $263.31 and a 12-month high of $385.01. The company has a market cap of $52.72 billion, a price-to-earnings ratio of 22.24 and a beta of 0.81. The stock’s 50-day moving average price is $330.01 and its two-hundred day moving average price is $325.79.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, July 30th. The aerospace company reported $6.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.32 by $0.69. The company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $8.66 billion. Northrop Grumman had a net margin of 6.91% and a return on equity of 40.24%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.06 EPS. On average, research analysts expect that Northrop Grumman Co. will post 22.46 earnings per share for the current year.

In other Northrop Grumman news, VP David T. Perry sold 5,091 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $326.83, for a total value of $1,663,891.53. Following the completion of the sale, the vice president now owns 9,508 shares in the company, valued at approximately $3,107,499.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation operates as a security company. It provides various systems, products, and solutions in autonomous systems, cyber, space, strike, and logistics and modernization, as well as in command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR) to customers in the United States and internationally.

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

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