Perigon Wealth Management LLC boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 4.5% in the second quarter, HoldingsChannel.com reports. The fund owned 1,070 shares of the aerospace company’s stock after purchasing an additional 46 shares during the period. Perigon Wealth Management LLC’s holdings in Northrop Grumman were worth $329,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Campbell Wealth Management purchased a new stake in shares of Northrop Grumman during the second quarter worth $25,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth $25,000. Versant Capital Management Inc grew its holdings in shares of Northrop Grumman by 54.4% during the first quarter. Versant Capital Management Inc now owns 88 shares of the aerospace company’s stock worth $26,000 after buying an additional 31 shares in the last quarter. Ballast Advisors LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth $30,000. Finally, Bellevue Asset Management LLC grew its holdings in shares of Northrop Grumman by 220.0% during the first quarter. Bellevue Asset Management LLC now owns 160 shares of the aerospace company’s stock worth $55,000 after buying an additional 110 shares in the last quarter. Institutional investors own 83.97% of the company’s stock.
Shares of NOC stock opened at $325.01 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a market cap of $54.18 billion, a PE ratio of 22.86 and a beta of 0.79. The company has a 50-day moving average of $308.15 and a two-hundred day moving average of $332.27. Northrop Grumman Co. has a 1-year low of $263.31 and a 1-year high of $385.01.
Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, July 30th. The aerospace company reported $6.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.32 by $0.69. The company had revenue of $8.88 billion during the quarter, compared to analyst estimates of $8.66 billion. Northrop Grumman had a net margin of 6.91% and a return on equity of 40.24%. Northrop Grumman’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $5.06 earnings per share. Sell-side analysts anticipate that Northrop Grumman Co. will post 22.2 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on NOC shares. Morgan Stanley upped their target price on shares of Northrop Grumman from $380.00 to $412.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. Seaport Global Securities assumed coverage on shares of Northrop Grumman in a report on Tuesday, May 19th. They set a “buy” rating and a $398.00 target price for the company. Cowen raised shares of Northrop Grumman from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $360.00 to $370.00 in a report on Friday, May 15th. Sanford C. Bernstein upped their price objective on shares of Northrop Grumman from $405.00 to $419.00 and gave the company an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $375.00 price objective on shares of Northrop Grumman in a report on Thursday, June 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $385.00.
About Northrop Grumman
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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