Family Legacy Inc. Raises Stock Position in Northrop Grumman Co. (NYSE:NOC)

Family Legacy Inc. boosted its holdings in Northrop Grumman Co. (NYSE:NOC) by 8.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,385 shares of the aerospace company’s stock after buying an additional 251 shares during the period. Family Legacy Inc.’s holdings in Northrop Grumman were worth $1,094,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Trustcore Financial Services LLC purchased a new position in shares of Northrop Grumman during the first quarter valued at about $27,000. Glassman Wealth Services grew its position in shares of Northrop Grumman by 203.0% during the first quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Northrop Grumman during the first quarter valued at about $28,000. Meridian Wealth Management LLC purchased a new position in shares of Northrop Grumman during the first quarter valued at about $29,000. Finally, Legacy Advisors LLC purchased a new position in shares of Northrop Grumman during the first quarter valued at about $30,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

NOC opened at $341.16 on Monday. The stock has a market capitalization of $57.72 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.40 and a beta of 0.81. Northrop Grumman Co. has a 12 month low of $223.63 and a 12 month high of $358.96. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 1.62. The stock has a 50-day moving average of $327.01.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, topping the Thomson Reuters’ 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 firm’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the business posted $4.50 earnings per share. Analysts predict that Northrop Grumman Co. will post 19.6 earnings per share for the current year.

NOC has been the subject of a number of research analyst reports. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. ValuEngine lowered Northrop Grumman from a “hold” rating to a “sell” rating in a research report on Thursday. Sanford C. Bernstein raised their price objective on Northrop Grumman from $344.00 to $368.00 in a research report on Thursday, July 25th. Bank of America restated a “buy” rating and set a $405.00 price objective (up previously from $355.00) on shares of Northrop Grumman in a research report on Thursday, July 25th. Finally, UBS Group raised their price objective on Northrop Grumman from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Northrop Grumman presently has an average rating of “Buy” and a consensus price target of $340.40.

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

About Northrop Grumman

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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