Family Legacy Inc. Boosts Position in Northrop Grumman Co. (NOC)

Family Legacy Inc. boosted its stake in Northrop Grumman Co. (NYSE:NOC) by 2.4% in the 1st quarter, Holdings Channel reports. The firm owned 3,134 shares of the aerospace company’s stock after purchasing an additional 74 shares during the period. Family Legacy Inc.’s holdings in Northrop Grumman were worth $868,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new position in shares of Northrop Grumman in the fourth quarter worth $27,000. Truvestments Capital LLC acquired a new position in shares of Northrop Grumman in the first quarter worth $28,000. Sontag Advisory LLC acquired a new position in shares of Northrop Grumman in the fourth quarter worth $29,000. Legacy Advisors LLC acquired a new position in shares of Northrop Grumman in the first quarter worth $30,000. Finally, Athena Capital Advisors LLC acquired a new position in shares of Northrop Grumman in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 83.78% of the company’s stock.

In other news, VP David T. Perry sold 13,210 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $288.94, for a total value of $3,816,897.40. Following the completion of the sale, the vice president now directly owns 25,100 shares of the company’s stock, valued at $7,252,394. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Janis G. Pamiljans sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $285.12, for a total transaction 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 $1,919,427.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,197 shares of company stock valued at $48,826,976. 0.45% of the stock is owned by corporate insiders.

Shares of NOC opened at $300.80 on Monday. Northrop Grumman Co. has a 1-year low of $223.63 and a 1-year high of $340.14. The firm has a market capitalization of $50.09 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.19 and a beta of 0.89. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.18 and a quick ratio of 1.10.

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

NOC has been the subject of several recent analyst reports. Drexel Hamilton set a $335.00 price objective on shares of Northrop Grumman and gave the stock a “buy” rating in a research report on Saturday, February 9th. Goldman Sachs Group cut shares of Northrop Grumman from a “conviction-buy” rating to a “buy” rating in a research report on Friday, February 1st. Bank of America reaffirmed a “buy” rating and set a $355.00 price objective (down from $360.00) on shares of Northrop Grumman in a research report on Friday, February 1st. Argus reaffirmed a “buy” rating on shares of Northrop Grumman in a research report on Friday, February 1st. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Northrop Grumman in a research report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. Northrop Grumman presently has an average rating of “Buy” and an average price target of $337.06.

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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.

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

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