Stokes Capital Advisors LLC grew its stake in shares of Northrop Grumman Co. (NYSE:NOC – Free Report) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,830 shares of the aerospace company’s stock after acquiring an additional 991 shares during the quarter. Northrop Grumman comprises about 1.8% of Stokes Capital Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Stokes Capital Advisors LLC’s holdings in Northrop Grumman were worth $6,465,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors boosted its holdings in Northrop Grumman by 5.6% in the 1st quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock worth $5,623,128,000 after buying an additional 621,636 shares during the period. Focused Investors Fund L P purchased a new position in shares of Northrop Grumman during the 1st quarter worth about $108,369,000. JPMorgan Chase & Co. increased its stake in Northrop Grumman by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock worth $2,218,132,000 after purchasing an additional 211,459 shares during the period. Eagle Asset Management Inc. purchased a new stake in Northrop Grumman in the 4th quarter valued at about $97,866,000. Finally, Manning & Napier Advisors LLC bought a new position in Northrop Grumman in the second quarter worth approximately $90,177,000. 83.40% of the stock is owned by institutional investors.
Northrop Grumman Stock Up 0.6 %
NOC stock traded up $2.96 during midday trading on Friday, reaching $506.66. The company had a trading volume of 580,332 shares, compared to its average volume of 960,531. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $507.73. The company has a 50 day moving average of $452.88 and a two-hundred day moving average of $458.64. The company has a market capitalization of $74.98 billion, a P/E ratio of 35.43, a PEG ratio of 2.26 and a beta of 0.32.
Insider Activity
In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on NOC. Morgan Stanley lifted their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Sanford C. Bernstein downgraded Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target for the company. in a report on Friday, June 21st. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and upped their price target for the stock from $474.00 to $575.00 in a report on Monday, July 29th. UBS Group lifted their price objective on Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, TD Cowen boosted their price objective on Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $521.33.
View Our Latest Research Report on Northrop Grumman
About Northrop Grumman
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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