Wellington Shields & Co. LLC Purchases Shares of 715 Northrop Grumman Co. (NOC)

Wellington Shields & Co. LLC purchased a new position in Northrop Grumman Co. (NYSE:NOC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 715 shares of the aerospace company’s stock, valued at approximately $227,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Northrop Grumman in the 2nd quarter valued at $114,000. Meeder Asset Management Inc. purchased a new stake in shares of Northrop Grumman in the 2nd quarter valued at $115,000. Fort L.P. purchased a new stake in shares of Northrop Grumman in the 2nd quarter valued at $117,000. WESPAC Advisors SoCal LLC purchased a new stake in shares of Northrop Grumman in the 3rd quarter valued at $126,000. Finally, Kaizen Advisory LLC boosted its stake in shares of Northrop Grumman by 156.2% in the 2nd quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock valued at $133,000 after purchasing an additional 264 shares in the last quarter. 82.16% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on NOC. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 price objective for the company in a research note on Thursday, October 11th. Credit Suisse Group cut their price objective on shares of Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating for the company in a research note on Friday, July 27th. JPMorgan Chase & Co. cut their price objective on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Goldman Sachs Group cut their price objective on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a research note on Thursday, July 26th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $300.00 price objective on shares of Northrop Grumman in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $357.18.

NOC traded down $2.68 during trading on Friday, hitting $281.35. 77,241 shares of the stock traded hands, compared to its average volume of 1,618,515. The stock has a market capitalization of $49.09 billion, a P/E ratio of 21.19, a PEG ratio of 1.06 and a beta of 0.83. The company has a quick ratio of 1.17, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. Northrop Grumman Co. has a 12-month low of $251.66 and a 12-month high of $360.88.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.35 by $2.19. The business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.67 EPS. Sell-side analysts expect that Northrop Grumman Co. will post 19.06 EPS for the current fiscal year.

In other Northrop Grumman news, VP Lesley A. Kalan sold 1,065 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $300.02, for a total transaction of $319,521.30. Following the completion of the sale, the vice president now owns 13,656 shares of the company’s stock, valued at approximately $4,097,073.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Wesley G. Bush sold 10,000 shares of the stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $274.73, for a total transaction of $2,747,300.00. Following the sale, the chairman now directly owns 9,600 shares of the company’s stock, valued at approximately $2,637,408. The disclosure for this sale can be found here. Insiders have sold a total of 33,557 shares of company stock valued at $10,005,222 in the last three months. 0.62% of the stock is currently owned by corporate insiders.

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Northrop Grumman Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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

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