Calamos Wealth Management LLC Boosts Holdings in Northrop Grumman Co. (NOC)

Calamos Wealth Management LLC lifted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 98.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,812 shares of the aerospace company’s stock after acquiring an additional 7,359 shares during the quarter. Calamos Wealth Management LLC’s holdings in Northrop Grumman were worth $3,993,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Standard Life Aberdeen plc raised its stake in Northrop Grumman by 3.2% in the 3rd quarter. Standard Life Aberdeen plc now owns 116,641 shares of the aerospace company’s stock valued at $37,022,000 after acquiring an additional 3,592 shares during the period. First Republic Investment Management Inc. raised its stake in Northrop Grumman by 1.3% in the 3rd quarter. First Republic Investment Management Inc. now owns 16,717 shares of the aerospace company’s stock valued at $5,306,000 after acquiring an additional 218 shares during the period. Fifth Third Bancorp raised its stake in Northrop Grumman by 8.9% in the 3rd quarter. Fifth Third Bancorp now owns 7,598 shares of the aerospace company’s stock valued at $2,411,000 after acquiring an additional 623 shares during the period. Capital Research Global Investors raised its stake in Northrop Grumman by 5.1% in the 3rd quarter. Capital Research Global Investors now owns 1,245,569 shares of the aerospace company’s stock valued at $395,306,000 after acquiring an additional 60,545 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Northrop Grumman by 14.0% in the 3rd quarter. Pacer Advisors Inc. now owns 9,136 shares of the aerospace company’s stock valued at $2,899,000 after acquiring an additional 1,122 shares during the period. 83.99% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on NOC. Zacks Investment Research cut Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Susquehanna Bancshares upgraded Northrop Grumman from a “neutral” rating to a “positive” rating and upped their price target for the company from $309.00 to $315.00 in a research report on Friday, April 5th. Credit Suisse Group reiterated a “buy” rating and set a $302.00 price target on shares of Northrop Grumman in a research report on Wednesday, January 23rd. UBS Group upped their price target on Northrop Grumman from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, Cowen reiterated a “hold” rating and set a $300.00 price target on shares of Northrop Grumman in a research report on Thursday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $337.06.

NOC stock opened at $292.04 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $49.59 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.17 and a beta of 0.89. Northrop Grumman Co. has a 1-year low of $223.63 and a 1-year high of $340.14.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.59 by $0.47. The company had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.34 billion. Northrop Grumman had a net margin of 9.67% and a return on equity of 41.42%. Northrop Grumman’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.21 earnings per share. As a group, sell-side analysts predict that Northrop Grumman Co. will post 19.39 earnings per share for the current year.

In other Northrop Grumman news, Chairman Wesley G. Bush sold 86,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $287.28, for a total value of $24,849,720.00. Following the completion of the sale, the chairman now owns 39,937 shares of the company’s stock, valued at $11,473,101.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Janis G. Pamiljans sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $285.12, for a total value of $712,800.00. Following the completion of the sale, the vice president now directly owns 6,732 shares of the company’s stock, valued at approximately $1,919,427.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,197 shares of company stock valued at $34,247,476. 0.45% of the stock is owned by insiders.

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Northrop Grumman Company 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: Outstanding Shares and The Effect on Share Price

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

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