Oregon Public Employees Retirement Fund Raises Holdings in Northrop Grumman Co. (NOC)

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Oregon Public Employees Retirement Fund grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 0.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,856 shares of the aerospace company’s stock after purchasing an additional 254 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Northrop Grumman were worth $12,966,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NOC. Waddell & Reed Financial Inc. boosted its position in shares of Northrop Grumman by 13.1% in the second quarter. Waddell & Reed Financial Inc. now owns 668,613 shares of the aerospace company’s stock valued at $205,732,000 after acquiring an additional 77,611 shares during the period. Fluent Financial LLC boosted its position in shares of Northrop Grumman by 16.4% in the second quarter. Fluent Financial LLC now owns 3,129 shares of the aerospace company’s stock valued at $963,000 after acquiring an additional 440 shares during the period. California Public Employees Retirement System boosted its position in shares of Northrop Grumman by 21.9% in the second quarter. California Public Employees Retirement System now owns 482,808 shares of the aerospace company’s stock valued at $148,560,000 after acquiring an additional 86,735 shares during the period. Centaurus Financial Inc. boosted its position in shares of Northrop Grumman by 370.3% in the second quarter. Centaurus Financial Inc. now owns 1,980 shares of the aerospace company’s stock valued at $609,000 after acquiring an additional 1,559 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Northrop Grumman in the second quarter valued at approximately $389,000. Hedge funds and other institutional investors own 81.69% of the company’s stock.

A number of equities analysts have recently commented on NOC shares. Citigroup cut their price objective on shares of Northrop Grumman from $370.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 price objective for the company in a research report on Thursday, October 11th. Buckingham Research upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and raised their price objective for the company from $246.00 to $371.00 in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Jefferies Financial Group cut their price objective on shares of Northrop Grumman from $400.00 to $324.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Goldman Sachs Group cut their price objective on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Northrop Grumman presently has a consensus rating of “Buy” and an average price target of $357.18.

In related news, VP Lesley A. Kalan sold 1,065 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $300.02, for a total value of $319,521.30. Following the sale, the vice president now directly owns 13,656 shares of the company’s stock, valued at $4,097,073.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Patrick M. Antkowiak sold 5,137 shares of Northrop Grumman stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $310.00, for a total transaction of $1,592,470.00. Following the transaction, the vice president now directly owns 5,371 shares in the company, valued at $1,665,010. The disclosure for this sale can be found here. Insiders sold 21,185 shares of company stock worth $6,604,107 over the last ninety days. 0.62% of the stock is currently owned by insiders.

Shares of NOC opened at $261.95 on Thursday. The company has a market capitalization of $45.33 billion, a P/E ratio of 19.73, a P/E/G ratio of 0.98 and a beta of 0.67. The company has a current ratio of 1.26, a quick ratio of 1.17 and a debt-to-equity ratio of 1.53. Northrop Grumman Co. has a 1-year low of $251.66 and a 1-year high of $360.88.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share for the quarter, beating analysts’ consensus estimates of $4.35 by $2.19. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. Northrop Grumman’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the firm posted $3.67 earnings per share. On average, analysts anticipate that Northrop Grumman Co. will post 19.06 EPS for the current fiscal year.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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

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