Northrop Grumman Co. (NOC) Shares Bought by Los Angeles Capital Management & Equity Research Inc.

Los Angeles Capital Management & Equity Research Inc. lifted its stake in Northrop Grumman Co. (NYSE:NOC) by 10.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 144,735 shares of the aerospace company’s stock after buying an additional 13,330 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Northrop Grumman were worth $45,935,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NOC. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Northrop Grumman in the second quarter worth $114,000. Meeder Asset Management Inc. purchased a new position in shares of Northrop Grumman in the second quarter worth $115,000. Fort L.P. purchased a new position in shares of Northrop Grumman in the second quarter worth $117,000. WESPAC Advisors SoCal LLC purchased a new position in shares of Northrop Grumman in the third quarter worth $126,000. Finally, Kaizen Advisory LLC lifted its holdings in shares of Northrop Grumman by 156.2% in the second quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock worth $133,000 after buying an additional 264 shares in the last quarter. 82.16% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Sheila C. Cheston sold 10,440 shares of the stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $320.00, for a total value of $3,340,800.00. Following the sale, the vice president now owns 43,696 shares of the company’s stock, valued at $13,982,720. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Shawn N. Purvis sold 1,565 shares of the stock in a transaction on Monday, October 29th. The shares were sold at an average price of $273.39, for a total transaction of $427,855.35. Following the completion of the sale, the vice president now directly owns 4,326 shares in the company, valued at approximately $1,182,685.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,750 shares of company stock worth $7,031,962. 0.62% of the stock is owned by insiders.

NOC has been the topic of several research analyst reports. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 target price on the stock in a report on Thursday, October 11th. Goldman Sachs Group lowered their target price on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating on the stock in a report on Thursday, July 26th. Stifel Nicolaus set a $280.00 target price on shares of Northrop Grumman and gave the stock a “hold” rating in a report on Thursday, October 25th. UBS Group initiated coverage on shares of Northrop Grumman in a report on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 target price on the stock. Finally, Credit Suisse Group lowered their target price on shares of Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating on the stock in a report on Friday, July 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $357.18.

Northrop Grumman stock opened at $279.44 on Tuesday. The firm has a market cap of $47.54 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. The company has a current ratio of 1.26, a quick ratio of 1.17 and a debt-to-equity ratio of 1.53. Northrop Grumman Co. has a 52-week low of $251.66 and a 52-week high of $360.88.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.35 by $2.19. The company had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. Northrop Grumman’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.67 earnings per share. On average, equities research analysts predict that Northrop Grumman Co. will post 19.06 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Northrop Grumman Co. (NOC) Shares Bought by Los Angeles Capital Management & Equity Research Inc.” was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://www.chaffeybreeze.com/2018/11/06/northrop-grumman-co-noc-shares-bought-by-los-angeles-capital-management-equity-research-inc.html.

Northrop Grumman Company 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.

Featured Story: What is dollar cost averaging (DCA)?

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC).

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

Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply