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.
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.
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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.
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