TD Asset Management Inc. Grows Position in Northrop Grumman Co. (NYSE:NOC)

TD Asset Management Inc. raised its position in Northrop Grumman Co. (NYSE:NOC) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,057 shares of the aerospace company’s stock after purchasing an additional 19,398 shares during the quarter. TD Asset Management Inc. owned 0.10% of Northrop Grumman worth $54,624,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NOC. Patten Group Inc. raised its holdings in shares of Northrop Grumman by 1.2% during the 2nd quarter. Patten Group Inc. now owns 2,522 shares of the aerospace company’s stock valued at $815,000 after buying an additional 31 shares during the period. Moors & Cabot Inc. raised its holdings in shares of Northrop Grumman by 1.0% during the 2nd quarter. Moors & Cabot Inc. now owns 3,418 shares of the aerospace company’s stock valued at $1,101,000 after buying an additional 33 shares during the period. SVA Plumb Wealth Management LLC raised its holdings in shares of Northrop Grumman by 2.5% during the 1st quarter. SVA Plumb Wealth Management LLC now owns 1,433 shares of the aerospace company’s stock valued at $386,000 after buying an additional 35 shares during the period. Cornerstone Advisors Inc. raised its holdings in shares of Northrop Grumman by 18.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 233 shares of the aerospace company’s stock valued at $75,000 after buying an additional 36 shares during the period. Finally, Kistler Tiffany Companies LLC raised its holdings in shares of Northrop Grumman by 29.1% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 164 shares of the aerospace company’s stock valued at $53,000 after buying an additional 37 shares during the period. Institutional investors own 83.71% of the company’s stock.

In other news, VP Patrick M. Antkowiak sold 1,932 shares of Northrop Grumman stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $310.00, for a total value of $598,920.00. Following the completion of the transaction, the vice president now owns 5,208 shares in the company, valued at approximately $1,614,480. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Madeleine Kleiner sold 971 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $315.16, for a total value of $306,020.36. Following the transaction, the director now owns 16,675 shares of the company’s stock, valued at approximately $5,255,293. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,740 shares of company stock valued at $5,087,496. Insiders own 0.45% of the company’s stock.

Several equities research analysts recently commented on NOC shares. Morgan Stanley upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $335.00 to $418.00 in a report on Tuesday, August 6th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 30th. Bank of America reiterated a “buy” rating and set a $405.00 target price (up from $355.00) on shares of Northrop Grumman in a report on Thursday, July 25th. ValuEngine upgraded Northrop Grumman from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Sanford C. Bernstein lifted their price objective on Northrop Grumman from $344.00 to $368.00 in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $345.93.

Shares of NOC traded up $2.34 during mid-day trading on Thursday, hitting $363.76. The stock had a trading volume of 175,796 shares, compared to its average volume of 999,836. The stock has a market capitalization of $63.15 billion, a P/E ratio of 17.05, a PEG ratio of 1.53 and a beta of 0.81. The company’s fifty day moving average price is $337.76. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.15 and a current ratio of 1.25. Northrop Grumman Co. has a fifty-two week low of $223.63 and a fifty-two week high of $377.34.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, topping the consensus estimate of $4.64 by $0.42. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.41 billion. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The business’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.50 EPS. On average, equities analysts anticipate that Northrop Grumman Co. will post 19.63 earnings per share for the current year.

Northrop Grumman Profile

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.

Read More: Capital Gains Distribution

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

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