Quantitative Systematic Strategies LLC Makes New $1.96 Million Investment in Northrop Grumman Co. (NYSE:NOC)

Quantitative Systematic Strategies LLC bought a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,068 shares of the aerospace company’s stock, valued at approximately $1,961,000.

Several other large investors have also made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of Northrop Grumman by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 2,002,473 shares of the aerospace company’s stock worth $489,450,000 after purchasing an additional 56,098 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in shares of Northrop Grumman by 30,736.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 785,405 shares of the aerospace company’s stock worth $78,540,000 after purchasing an additional 782,858 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Northrop Grumman by 0.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 610,718 shares of the aerospace company’s stock worth $164,650,000 after purchasing an additional 2,698 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Northrop Grumman by 0.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 577,273 shares of the aerospace company’s stock worth $155,632,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Northrop Grumman by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 541,267 shares of the aerospace company’s stock worth $132,552,000 after purchasing an additional 33,098 shares in the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

A number of research analysts have issued reports on NOC shares. Barclays increased their target price on shares of Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Morgan Stanley upgraded shares of Northrop Grumman from an “equal” rating to a “weight” rating and increased their target price for the stock from $335.00 to $418.00 in a research report on Tuesday. Sanford C. Bernstein increased their target price on shares of 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 target price (up previously from $355.00) on shares of Northrop Grumman in a research report on Thursday, July 25th. Finally, UBS Group increased their target price on shares of Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Northrop Grumman has an average rating of “Buy” and a consensus target price of $345.93.

Shares of NYSE NOC traded up $6.40 during trading hours on Tuesday, hitting $349.21. 29,394 shares of the stock were exchanged, compared to its average volume of 829,191. 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 firm has a market cap of $57.72 billion, a P/E ratio of 16.43, a PEG ratio of 1.40 and a beta of 0.81. The firm has a fifty day moving average of $328.98. Northrop Grumman Co. has a 1-year low of $223.63 and a 1-year high of $358.96.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.64 by $0.42. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.41 billion. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the business posted $4.50 EPS. Equities analysts anticipate that Northrop Grumman Co. will post 19.6 earnings per share for the current fiscal year.

In related news, VP Christopher T. Jones sold 5,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $353.19, for a total value of $1,765,950.00. Following the completion of the transaction, the vice president now owns 67,422 shares of the company’s stock, valued at approximately $23,812,776.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Patrick M. Antkowiak sold 1,932 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $310.00, for a total transaction of $598,920.00. Following the completion of the transaction, 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. Insiders have sold a total of 14,740 shares of company stock worth $5,087,496 in the last quarter. 0.45% of the stock is currently owned by company insiders.

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.

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

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