Milestone Asset Management LLC acquired a new stake in Northrop Grumman Co. (NYSE:NOC – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 2,332 shares of the aerospace company’s stock, valued at approximately $1,017,000.
A number of other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Northrop Grumman in the fourth quarter worth approximately $25,000. SRS Capital Advisors Inc. grew its stake in Northrop Grumman by 960.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 48 shares in the last quarter. Optimum Investment Advisors lifted its position in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares during the last quarter. Bank & Trust Co purchased a new position in Northrop Grumman during the 2nd quarter valued at about $28,000. Finally, Frazier Financial Advisors LLC purchased a new position in Northrop Grumman during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.
Northrop Grumman Stock Down 0.4 %
NYSE NOC traded down $1.79 during trading on Monday, reaching $504.87. 343,941 shares of the company’s stock were exchanged, compared to its average volume of 956,660. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $508.47. The firm has a market capitalization of $74.72 billion, a PE ratio of 35.41, a P/E/G ratio of 2.26 and a beta of 0.32. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The company’s fifty day simple moving average is $452.88 and its 200-day simple moving average is $458.64.
Analyst Ratings Changes
Several analysts have weighed in on the stock. Sanford C. Bernstein downgraded shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a research report on Friday, June 21st. BTIG Research started coverage on shares of Northrop Grumman in a report on Wednesday, June 26th. They set a “buy” rating and a $565.00 target price for the company. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. TD Cowen increased their target price on shares of Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, UBS Group raised their price objective on shares of Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Northrop Grumman has an average rating of “Hold” and a consensus price target of $521.33.
View Our Latest Stock Report on Northrop Grumman
Insider Transactions at Northrop Grumman
In related news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the sale, the vice president now owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the sale, the vice president now owns 6,755 shares in the company, valued at $3,225,917.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.
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